Facebook analytics is the key to driving your business in the direction of success. However, It is riddled with terminology and jargon that the average person doesn’t understand. Not knowing these analytical terms discourages many businesses, resulting in them losing crucial opportunities that could improve their sales. Below is a quick guide for the small business owner that helps decipher the difficult terms, which can assist in using the analytics to their advantage
Reach vs Impressions
Reach gives you a measurement of how many people were exposed to your message during an advertising campaign. While impressions measure how many times your ad has been seen. Impressions are the metrics to watch as it shows which ad is more popular.
How impressions work: If an ad is on screen and someone scrolls down and then scrolls back up to the same ad, that counts as one impression. If an ad is on screen for someone two different times in a day, that counts as two impressions.
Cost per Click Vs Cost Per Mille
As we know, with Facebook ads there’s some form of payment involved. There are two types of ways that you can be charged for your ads. CPM stands for Cost per Mille (Cost per thousand impressions). This consists of a set fee that is charged for every time your ad is shown 1000 times. This is commonly used by advertisers who wish to raise product awareness among consumers, but not necessarily to encourage them to purchase their product.
Cost per click is as simple as it sounds, you pay for every time someone clicks on your ad. This type of payment is more for the strategic marketer who wants to ensure that each click turns into a sale. This requires understanding the customer and enticing them to take an action after seeing the ad.
Facebook analytical terms can be intimidating, but it really takes educating yourself on how each works and how to manipulate the ads to convert customers. Take the time to learn about Facebook and all its features and stay updated on new developments.