July 3, 2014
By: Melaina Lewis @melaina_lewis
While Facebook seems to be a dwindling marketing platform the ever-important question is why metrics matter. The answer, regarding any social media, is metric means everything. It’s a way to calculate return-on-investment, impressions, reach, frequency and clicks, all of the metrics mentioned before matter more than clicks. The value in Facebook metrics remains with impressions, reach and frequency.
Facebook Head of Measurement and Insights Brad Smallwood says, “Specifically, 99 percent of sales came from users who saw an ad, but did not interact with it.”
Smallwood also said campaigns that optimized ads for reach were 70 percent more effective at driving ROI. So, think about Facebook advertising. By paying a small chunk of change to increase reach of the ad, more consumers invest in the product. Smallwood reported campaigns optimized for frequency had a 40 percent increase in ROI, meaning if the ad appeared at optimized hours more consumers invest in the product. With that in mind here’s a crash course in measuring Facebook metrics.
First things first, know these three things:
- What you posted
- The number of impressions
- The percent feedback
Percent feedback= total number of comments + likes / the number of impressions.
Impressions can be misleading, but overall you want the percent feedback to increase. Because you want people to engage with your content, not just see it.
Thinking about what analytics to use? Facebook provides great insights. Facebook measures page likes, post reach and engagement, while comparing it against weekly ratings and competitors.
Keep in mind, impressions is the number of times your content was “rendered in the stream.” This means the content displayed on fan page walls, shown in newsfeeds, commented on or liked all counts in impressions. Three breakdowns of impressions include organic, paid and viral impressions. Reach measures the unique set of people that see it. In strategic planning, know your target demographic before designing Facebook content.
Organic Impressions: Number of times content was displayed in a Facebook user’s newsfeed or page.
Paid Impressions: Number of times your paid content was displayed.
Viral Impressions: Number of times content was associated with your page was displayed in a story published by a friend, which can include liking, commenting or sharing on your page, answering a question or responding to an event.
It’s important to grow organic impressions as it represents the number of engaged fans of your page.