Optimizing Facebook Ads might seem like a tough thing to accomplish, but we’ve got you covered. Nothing similar to rocket science here. You start by setting the ads in the correct way and then refine the existing strategy by testing it all out and tracking the results. While Facebook algorithms do the most part of optimization, the only thing left for you is to strategically place the ad campaign.
You need to take a data-driven approach in order to optimize and improve your Facebook ads. With the help of critical metrics, you can assess advertisement performance and define whether it is working towards your initial goals. Key metrics are the benchmarks when it comes to evaluating the existing campaign and include:
Conversions
A conversion means that users engage with your advertisement and click on its CTA. If the desired action is encouraging users to visit your brand’s web page, every time someone reaches it through a Facebook advertisement will count as a conversion. Optimizing conversion rate is key for every website element but ads in particular.
Frequency stands for the number of times a person sees your advertisement which is calculated when impressions are divided by ad reach. Such metrics help to understand whether the targeting is effective and avoid showcasing the same advertisement to the same user too many times.
CTR and CPC
CTR or click-through rate refers to the number of users who click on the advertisement and get on the form or page attached. If CTR is not high, it means that your audience is not interested in the ads you show them. CPC or cost per click shows how much a click costs. CPC is usually aimed to be low.
The value of the conversion is the equivalent earnings the company gets for each conversion. Return on ad spend or ROAS refers to the total value of conversion divided by the costs spent on advertising. When you have a lot of advertisements that convert, ROAS will be very high.
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