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One of my clients was freaking out the other day about the money he was spending on his Facebook ads and he decided to switch them off on Day 2 as he wasn’t getting the results expected out of the gate. Eeekk..
KPI’s/Metrics (Key Performance Indicators)
Facebook can take 3 to 4 days to optimise and for the algorithm to work properly. The more money you have on your ads the better but even so, it takes a while for the algorithm to start working in your favour.
Once you have left your ads a few days, these are the most important KPIs to watch to see If your ads are performing
On Your Ads
Impressions – do not make any assumptions or decision to turn any ads off until you have at least 2,000 impressions on your ads.
CPC (Cost per link click) – this is the cost per click that you pay when someone clicks through to your Landing Page and for conversion ads, we generally expect this to be between $1 to $5 depending on the niche. Money making and internet marketing niches tend to come in on CPC a lot higher than other niches.
CTR (All) – this is the % of people that STOP their scroll to look at your Ad Creative and if it is 3% or higher, you’re onto a winner. Your ad creative is working.
CTR (Link Click-Through-Rate) – this is the % of people that ACTUALLY CLICK ON YOUR AD to get taken to another site/landing page and if it is 1% or higher, you’re onto a winner. Your ad copy and messaging is working
Cost per optin / sale / complete registration – this just depends on what you are selling and at what price point and whether you have upsells. This will vary from business to business
Cost per lead (typical)
Typically you can expect the following lead costs depending on niche.
PDF Guide
$6 or less (cold leads)
$4 or less (warm leads)
Challenge
$5-$8 (cold leads)
$4 or less (warm leads)
Webinar
$8-$20 (cold leads)
$8 or less (warm leads)
ON VIDEO VIEW ADS
15 cents or less for ThruPlays
$1 per 100% view
On Your Landing Page (LP) Conversions
LP Conversions – we are looking for 1 in 5 people to opt into your webinar or case study
Running Facebook ads is all about testing and optimising, knowing your KPIs (Key Performance Indicators) and throwing out any non winning to optimise the winners.
Too many people run ads with false expectations and do not allow Facebook enough time to optimise – they then shut their ads off before the optimisation time has lapsed if they are not getting the results they want straight away.
I suggest on a brand new Campaign, allow ads to run for 3 to 4 days before making any judgements at all and give time for the the algorithm to work properly. The more money you have on your ads the better but even so, it takes a while for the algorithm to start working in your favour.
Once you have left your ads a few days, these are the most important KPIs to watch to see If your ads are performing.
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