If you’re new to using Meta Business Suite or Ads Manager, (previously known as Facebook Business Manager), don’t stress. While everything is constantly changing in the digital space, the key metrics in Meta Business Suite have stood the test of time. They remain reliable indicators of campaign performance in an ever-evolving digital landscape, where your understanding of them is crucial for success.
And we’re coming in clutch with a guide to deciphering the basics of Meta Business Suite. While a Meta ad agency like us at Reform Digital can manage this complexity for you, let’s start by turning you into an armchair expert, first.
We’re specialists in all things digital, including Social Advertising and everything that goes into it. So take it from us that Meta isn’t a platform your business should sleep on, whether you’re e-commerce or lead gen focused. Let’s take a walk through what you can do with Meta Business Suite and Ads Manager, and what each of its metrics that can make or break your ad campaigns really mean.
One Dashboard, Multiple Functions
Meta Business Suite isn’t just for Facebook anymore. It’s a comprehensive tool that lets you publish feed posts and stories for both Facebook and Instagram without switching accounts. You can schedule your posts, save them as drafts, or even upload creative assets to the media library. But what about the metrics? What do each of them mean?
Reach and Impressions
While reach refers to the number of unique users who have seen your ad, impressions refer to the total number of times your ad has been displayed on someone’s screen.
Engagement Metrics
Ever seen the acronym “CTR” and wondered what it means? CTR stands for Click-through rate and refers to the percentage of people who clicked on your ad after seeing it. On the other hand, engagement rate refers to the total engagement (likes, comments, shares) your ad receives, divided by its impressions.
Conversion Metrics
The percentage of completed goals (or conversions) compared to the number of visitors is the conversion rate. Cost per conversion encapsulates how much it costs you for each conversion gained through your ad.
Sort Your Inbox
With Meta Business Suite, you can manage all your messages and comments across all meta platforms (Facebook, Messenger, and Instagram) in one place. You can also set up Automated Responses for faster replies, allowing for more time to focus on metrics.
What’s particularly useful is that these Automated Responses can be customised to match your brand’s voice and can even be tailored to answer specific types of inquiries. This not only speeds up your response time but also adds a touch of personality and attentiveness to your customer interactions.
Customer Response Metrics
Your business response time is a metric also measured by Meta, providing the average time it takes for you to reply to a customer’s inquiry. Your response rate, on the other hand, shows the percentage of customer inquiries that you respond to within a certain timeframe. Both metrics are critical in assessing how effectively you’re managing customer interactions and can be invaluable for refining your service strategy.
Create Ads with Meta Ad Manager
Ads Manager in Meta’s Business Suite is a comprehensive space for crafting, implementing, and monitoring ad campaigns across platforms like Facebook, Instagram, Messenger, and the Audience Network. It’s a unified solution that allows you to control your ads’ deployment and timing.
When crafting your ads, remember that the first three seconds are crucial to capture attention. Use compelling creative content and concise copy to get your message across.
Ad Performance Metrics
A rating from 1 to 10 is your Ad Relevance Score, which estimates how well your target audience is responding to your ad. Your Return on Ad Spend (ROAS) measures the effectiveness of a digital advertising campaign.
A common pitfall is ignoring the Ad Relevance Score, leading to higher costs and lower engagement. This is when tagging in a digital agency puts your business above the rest, as we can help test different elements to discover what resonates best with your target audience.
Track Insights and Trends
With Meta campaigns, you can see how your posts are performing, track key trends, and learn more about your audience demographics such as age, gender, and location – all invaluable information.
For example, if you were to notice a sudden spike in engagement from males aged 18-24, you could consider crafting campaigns that cater specifically to this demographic.
Audience Metrics
Your audience reach, and engagement are two different yet important insights. While audience reach is the total number of people your ads could potentially reach based on your budget and bid strategy, engagement measures how actively your audience interacts with your content.
Once you have a good understanding of your audience metrics, you can utilise this data for retargeting. If you see high engagement but a low conversion rate, a retargeting campaign focusing on conversions can be really effective.
Activity at a Glance
Keep a comprehensive eye on all your business activities across Facebook and Instagram through the Activity tab. This feature serves as a central hub, giving a panoramic overview of the real-time performance and interactions within your campaigns.
Monitoring Metrics
Performance Over Time metrics are graphs and charts illustrating the performance of your campaigns over specific periods. On the other hand,
Key Performance Indicators (KPIs), refer to the metrics that are most important for evaluating the success of your campaign.
The KPIs you choose should align with your overall business goals. If brand awareness is the objective, impressions and reach become crucial KPIs. For conversion-focused campaigns, the cost per conversion would be a vital KPI to monitor.
Access Helpful Tools
From Meta Business Suite you can access other Meta tools like Ads Manager, Commerce Manager, Business Settings, and more. This enables an easy transition between different activities, helping you maintain focus on the metrics that matter.
By understanding these metrics, you’re not just monitoring numbers; you’re gathering insights. These insights can help you make data-driven decisions for future campaigns, bringing more eyes and conversions through your digital doors.
And if this all seems too overwhelming, don’t worry. As a Meta/Facebook ad agency, our team at Reform Digital is here to help you navigate the Meta Business Suite’s maze of metrics. Let us turn these numbers into a story of success for your business. Contact us today for a free site review.
