20 Jun Facebook Benchmarks and Metrics you need to pay attention to in 2018
Monitoring Facebook Ad metrics is key to successful campaigns. Knowing how to read the numbers though and which ones matter, makes it easier to better determine their success. In this article, we’re going to reveal the important Facebook Metrics you need to pay attention to in 2018.
Facebook have evolved their reporting and tracking capabilities to more behaviour based metrics that relate to your campaign objective. Facebook automatically report the results based on the campaign objective, but that isn’t always the end objective you want to measure for the business.
So the first step is to decide which metrics you need to monitor according to your business objective.
Once you have that in mind, here are some key metrics we include in 99% of our reports to monitor and troubleshoot their progress.
Key Facebook Ad Benchmarks and Metrics for 2018
1. Relevance Score
This gives a score from 1-10 on how relevant the ad is to the audience you’re targeting. 10 being most relevant, it’s a great way to determine which ad is performing best if you’re testing different types of audiences. Relevance score needs a minimum of 500 impressions to give you an initial score.
Benchmark – we usually like to keep this 6-7 or higher.
ROAS = Return On Ad Spend. This metric gives you an indication for every $1 you spent, how much you got in return. Obviously, more than 1 is preferred. You can also set automated rules based on ROAS to automatically scale or turn off ad sets that aren’t giving you the return you’re looking for. For ROAS to provide results, you need to have the Facebook Pixel setup and be tracking purchase value at your point of conversion.
Benchmark – for eCommerce stores, we aim for $3+ depending on product margins
This refers to the amount of times on average that an individual has seen your ad. There is a tipping point when an ad goes beyond being relevant and to the point of plain annoying. Frequency helps you manage this. You can only see Frequency at the advertisement level.
Benchmark – we try to keep frequency below 3.5, depending how large the audience is
4. Click Through Rate
This is an overall percentage of how many click throughs there have been from an ad you’ve shown to users. When comparing ad sets or ads that have similar metrics, sometimes click through rates can give you a better indication of their success. Benchmark – for top of funnel ads to cold traffic we aim for 1%>, for middle and bottom of funnel ads 2%>
5. Landing Page Views
Facebook introduced Landing Page Views in 2017 to better reflect people that actually reached your website after clicking on the link in an ad. The difference between Landing Page Views and Link Clicks was that Landing Page Views only triggered when the Facebook Pixel fired on the website once it loaded. Meaning it gives you a more specific bounce rate from people that clicked on a link to people that actually made it to the site without bouncing back out. There was always a difference when comparing metrics of link clicks to actual traffic from Facebook when you measured it via Google Analytics or a similar tool and this helps bridge that gap to give you more accurate stats. To calculate the bounce rate, we measure Landing Page Views as a percentage of Link Clicks. Benchmark – we like to keep the bounce rate from ads <20%
6. Cost per Landing Page View
As the more accurate traffic metric, we now use Cost per Landing Page View and the benchmark for our usual Cost Per Click (CPC) as it gives a truer indication of the actual cost. Benchmark – for top of funnel ads to cold traffic we aim <$1, for middle and bottom of funnel we aim for <$2
Facebook metrics and benchmarks change all the time, here are ones you should pay attention to in 2018Click To Tweet
When you’re analyzing your next Facebook Ads campaign, keep our cheat sheet handy to quickly and easily benchmark your campaign progress…
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