So now, you know how to setup Facebook conversion tracking and how to target better in Facebook. Even great people do at first attempts sometimes. So let’s see how you can analyze / retrospect/postmortem the performance of the campaign and get actionable insights.
General Best practices :
These are something you can do at the top level.It could be obvious testing to find out which copy works or which medium works. But even these obvious tricks will help you save as much as 2X to 3X depending on various factors.
Here’s the general best practices which could still give you breath taking insights.
Have multiple Ad copies tested :
Since Facebook ad image is the important factor that can influence other performance metrics you should experiment. Initially the experimentation budget should be up-to 15% of your total budget allocated for that campaign.
How to experiment with ad images?
Have a different five image designed for the target audience. Keep the audience targeting same. You can do this by creating a ad-group and duplicating that into 4 times. Use different images in those 4 ad groups.
Don’t run all the four ad set’s parallel. Have a fixed budget for all the four ad sets ( like $25 or INR 2000). Run the ad-sets by one by one.
After the completion of all the ad-set’s you get to see which ad set has performed well in terms of ctr , cost per click and cost per acquisition. Then you gonna choose the winner and go with the big budget which could 90% of the total budget.
Try different devices.
Facebook has user from both devices and desktops. Sometimes based on you’re campaign objective one or other platform would be a nice choice. Due to customer experience, sometimes you’re offering would be valuable to mobile user and not to desktop users and vice versa.
Hence it would be advisable to test your ad set’s along the different platforms. Let’s say you already found out which creative yields you best CTR. Now you want to find out which platform users are very likely interested in your product/service.
To find out which platform user are most valuable to you, duplicate your ad set with high ctr. Duplicate the same ad set into three new ad sets. And only include mobile, desktop and tablet in respective ad sets.
Run the ad set’s in series with same budget. Find Out which asset has high conversion rate and high ctr. That’s the winner from the experiment.
Advanced Analytics :
Let’s say you’d one obvious steps and now you discovered that mobile platform performs well for your business. That means you had at least saved the marketing budget by 30%. Now if you want to further optimize your campaign here’s the help.
You can use breakdown option in the Facebook ads manager or power editor to optimize further.
Device & Platform Breakdown
You can breakdown the Ad-set which was winner in the final obvious analysis. If you breakdown via platform and device , you will be surprised to see the different in performance across various devices and platforms. Here’s the screenshot,
Once this options chosen from Breakdown→ By delivery → Placement & device, you will be getting analysis like this,
If you look closer, Facebook in android phones is giving a better results for you’re products.
Gender Breakdown :
Sometimes as simple as gender breakdown could be an eye opener. The reason being is product advertisement might appeal to one particular gender so much. In those cases if you find out those gender and target only those your results will skyrocket.
How to do gender segment in Facebook?
Go to breakdowns → By Delivery → gender, then you will be shown report for gender conversion data, ctr & cpc. This will also result in at least another 30% cost optimization.
This is yet another obvious feature which gives you insights at basic level. Activity history contains log of activities happened on the particular campaign/ Ad-set/Ad-creative. This will help you understand which change triggered massive change in ad performance along with timeline.
For example : You have added the few other interest in the targeting options a few week back and now the cost per click has increased. If you want to find the correlation between that change and cost increase you can use activity history to get the date when the changes made. And use time segment ( next paragraph) to see the cost increase over time
How to use activity history in Facebook
You can view activity log for three levels.
- Campaign level
- Ad set level
- Ad creative level
To see activity history for a particular campaign and click on the check box on the left side,
Upon clicking the checkbox, on the right side you will see a popup , click on the clock icon to see the activity log for the selected campaign.
By seeing the campaign changes with time, you will be able to find out if a particular change has triggered anything massive.
By segmenting the campaign performance by time, you will be able to see the pattern. This often very important because it helps you to understand at what point of time the cost has increased /decreased.
How to segment campaign performance by time?
You can do time segment for campaign, ad-set and ad creative. To segment select the ad set or campaign and then go to breakdown → By time → week
You can see key metrics to changes by week.
That’s all for the analysis part. Now you know how to find which device, platform and creative works. You also know how to see the pattern of critical metrics with time.