Once you have set up your tracking pixel, you’ll start to receive data on your campaign’s performance. So how can you use this data to determine your next steps? We’ll start by focusing on Facebook and Teespring analytics. These analytics can give us useful insight and by cross-checking our numbers, we can avoid being misled by inaccurate data. Keep in mind many top Creators organize their data in a separate excel sheet to keep track of their ad’s performance. Make sure to check out our section on Teespring Analytics too if you haven’t already!
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Let’s say you launched your Facebook ad yesterday at 3pm targeting your audience. You have set the lifetime budget to $20 and you will have spent around $10 by this morning. Go to www.facebook.com/ads/manager and click on the ad you want to analyze.
You should pay particular attention to the following metrics:
- Relevance score: This is a rating of 1 to 10 based on how your audience is responding to your ad. Your score shows how successful your targeting is; if you target the right audience (the people who will be most responsive to your ad), your relevance score will be 9/10 or 10/10. If it’s below 7/10, you should revisit your targeting and update the audience’s interests; having a low score can negatively impact your ad’s performance.
- Results: Depending on what ad type you choose your ads will have different goals. If the goal is hidden it will show under ‘Results’ as a ‘Conversion’ (e.g. the goal of your PPE ad is “engagement” so a like, share, comment). Be careful not to confuse the ‘conversion’ Facebook shows you for actual sales (except for Website Conversion Ads, where the ad goal is an actual conversion, i.e sale).
- Facebook Pixel: Earlier we installed the Facebook Pixel on the ad and within our Teespring account. The fields ending with (Facebook Pixel) now tell you what activity Facebook has recorded. So if a buyer clicks on your ad and views the campaign page it will be recorded under ‘View Content (Facebook Pixel)’. If a buyer coming through an ad actually completes a purchase they will be listed under ‘Purchase (Facebook Pixel)’. This way you can see how many campaign page visitors you had from this ad and how many orders you received from it.
- Cost: The “Cost” section is determined by the ad type you select and shows the average amount of money you paid to achieve your ad’s objective (i.e. engagement, click through or purchase).
- Reach: The number of people from your audience who saw your ad.
- Frequency: The number of times people in your audience have seen the ad; you should aim to have a frequency of 1.5 or less. It is a waste of money if you show the same people the same ad over and over again; if they didn’t engage with it the first time they saw it, it’s unlikely they will do so later.
- Click-Through Rate (CTR): CTR is a very important indicator if your ad is good or not; it tells you how many people who have been served your ad actually clicked on it. You should have a CTR of at least 4%. A very good CTR is 8% or more. If the CTR is very low it could be that the ad image or message is not appealing, the design is not right for your target audience, or the targeting is not accurate.
- Amount Spent: This is the total amount of money spent on the ad and can be used to calculate the return on investment (ROI). Two of the most important indicators related to the total spent are the Return on Investment (ROI) and your net profit. In order to calculate these values (to see if your ad is worth running or not) you need to have a look at your Teespring Analytics to see how much profit you made from the campaign.
Don’t forget you can also click “Customize Columns” to select other metrics you want to include in the report. Next to the customize button is one called “Breakdown” where you can select to divide data by country, age, gender, ad placement etc. It will show you all metrics separately for each of those groups (e.g. CTR for each country, website clicks for different age ranges etc.). This gives you further insight into what countries, age groups, genders etc. perform best (e.g. high CTR, more checkouts, lots of website clicks) so you can further optimize your targeting in the future.
Now that you understand your ad analytics it’s time to make a data based decision on whether you want to scale your campaign or kill the ad. Continue to the next section for more info!