Seeing data is one thing, but understanding what it means for your business is another.
In today’s RIG94 lab, we’re sharing our insight on how to use your analytics and ad data to formulate a solid marketing strategy built for success. We’ll explain what “CTR” and “Impressions” means, and how to track the activity on your ad.
But, what’s really important is how you use this information to improve your business’s overall performance.
Let’s dive right in.
Here are 5 tracking components your ad performance and analytics are telling you.
Engagement measures the number of times a viewer took action on your post or ad. This could mean clicking through on a link in the ad, sharing your post, or even posting a quick reaction or leaving a comment. Engagement is a sign that people actually like the content you’re sharing. Engagement is a valuable insight because it can give your posts more exposure to your audience. If one of your posts receives a ton of engagement, that tells the algorithm that it’s popular, so your content is more likely to surface more often to your audience and those interested in your content in general.
Reach is the number of people your content or ad is seen by. Not every single one of your posts or ads receives the same level of success. By tracking the amount of reach, you’re able to see what worked or what didn’t with your ad performance. It helps you learn and understand what your audience likes, and why certain posts perform better than others.
Impressions are the actual number of times your ad was seen. This includes if one post was seen multiple times by the same user. One person may get exposed to one of your Oil & Gas ads multiple times. For example, if they saw it once in their feed and then again when a friend shared it, that counts as two impressions. The key takeaway here is that getting your content seen multiple times is necessary to get people to take action.
Click-through rate (or, “CTR”) shows the percentage of people that see your ad and actually click through to the landing page it’s connected to. According to a study from Wordstream, the average CTR for Facebook Ads across all industries is 0.9%. A low CTR can mean that people are seeing your ad, but they simply aren’t taking any action on the content. Tracking the CTR rate is vital to performance because it directly impacts your ad’s relevance score. When Facebook sees your ads are getting impressions but no clicks, it assumes your viewers don’t find the ad relevant. This means you’ll end up paying more per click and receive overall bad performance, i.e. wasting time and money.
Cost-Per-Click is a way of paying for your ads. When paying cost per click, you’re charged every time someone clicks on your ads. This is the most common option for Facebook marketers since you’re paying for actual actions being completed versus just having your ad show up on their feed. According to the earlier study done by Wordstream, the average CPC across all industries to be $1.72.
As you can see, there are a variety of metrics you can track when it comes to your ad performance and analytics. It’s up to your company to decide which ones are most important to you and how to move forward in the future.
Have questions on your ad performance? Reach out to our RIG94 Agency team today to let our experts lead the way to your ad marketing success!