Facebook Advertising Data Analysis

Ask yourself a few questions first:
What key data indicators do you usually set and pay attention to in the Facebook advertising background?
Are you still stuck in the analysis dimensions before 2023?
Look at CPM, CPC, CTR, ACT, Initiate Checkout and other data?
Should you invest more resources in UGC materials or image materials for advertising? FB background has added a lot of changes in the past year with the continuous upgrading of video and Internet celebrity industries.
Meta advertising performance has declined, and all industries have to face such force majeure changes.
Complaining is useless. Are you precipitating enough and drilling deep into this channel, and can always block the water and cover the earth?
This article will focus on sharing and showing: How should you perform data analysis of FB advertising in the right way in 2024.

1. How do I set up the data dashboard of the FB advertising background
2. How to analyze key data
3. Why CPM, CPC, and CTR are no longer the most important data focus now—-Enter the advertising account background:

In cross-border e-commerce, our usual advertising optimization goal is Purchase, so basic values ​​such as basic purchase, budget, cost, single conversion cost, reach and thousand exhibitions must be paid attention to.

There is an indicator: Frequency, which many FB pitchers do not pay special attention to, which is a big mistake.

Frequency can tell us whether we have reached new audiences, or whether we have repeatedly shown it to the same group of people.
Generally speaking, I hope the frequency index is around 2 or lower than 2.

If a large proportion of ads are targeting mixed potential audiences, and retargeting ads, this value should be controlled within 4.

In addition to CPM (cost per thousand impressions), I suggest also observing CPR data (cost per thousand impressions).

CPR can be used to determine whether your ad reach frequency is too high from another perspective.

If your ad runs to a certain stage and you find that the overall CPA (cost per conversion) is rising, it is very likely that you are constantly stimulating the same group of people with excellent performing materials, and the materials are actually exhausted.

Therefore, combining CPR and Frequency can effectively help you reach new audiences in a rhythmic manner.

Hook Rate–This is a very important data indicator at present, especially when your advertising materials are mainly UGC videos or self-cut videos.

Hook Rate = 3-seconds Video Plays/Impressions (Hook Rate)
This indicator can clearly reflect the effectiveness of your video in attracting audiences, so as to infer whether the influencer marketers and creative editors have buried good hooks when designing (expert) scripts.

At the same time, I will monitor the Hold Rate indicator and the average viewing time of the video.

These data need to be cross-analyzed. Hold Rate = ThruPlays/Impressions (Retention Rate) In addition, I will also pay attention to the unique indicator: Unique Outbound CTR (Outbound Click-through Rate) Paying attention to this data rather than the original CTR click-through rate is to ensure the frequency of users clicking on the landing page after seeing the ad.

This indicator can be said to be relatively pure and accurate click-through rate data. Of course, Hook Rate and Hold Rate are not available in the original advertising background data dashboard.

This needs to be set manually, and I will teach you how to set it at the end of the article.

Next, the Post Share metric is also critical. I will use this metric to monitor how much traction my creative material has and how much free traffic it can bring me.

In summary, there are two groups of key KPIs that I focus on in the FB advertising background:

A. Focus on performance indicators (related to direct ROI–Spend, CPA, Purchase)

B. Creative performance indicators (Hook Rate, Hold Rate, Video Average Watch Time, Unique Outbound CTR) Group B indicators can be used to guide the optimization direction of advertising materials, as well as what optimizations marketers need to make in the video script guidance during the development of influencers. In this way, the advertising conversion efficiency can be improved in all aspects.

Why should CPM, CPC, and CTR not be your core indicators?

Because these data are not the indicators you should optimize, you cannot choose to close an ad just because the CPM of a certain ad group is too high.

To give the simplest example, you will find that the CPM value of your ad group with the best order efficiency will be significantly higher than that of your ad group that does not order or orders but has a high CPA.

CPM largely reflects the average value of your industry under a certain type of advertising.

CTR-broad click-through rate is also likely to cause a decrease in overall click-through rate due to your wide audience settings, but it does not mean that you should close the ad group.

So for indicators like CPM, CPC, and CTR, what you need to do is not to optimize them, but to pay attention to the changes in these values ​​and cross-analyze them with indicators of other dimensions.
Finally, the setting guidelines for HOOK RATE and HOLD RATE are as follows:

1. Find Cutomize Columns:

Click Create Custom metrics

Set the Hook Rate as follows:

Set the Hold Rate as follows: