Test, Test, Test - Why It Is Important To Analyse Ad Performance
With any online marketing campaign, it is crucial to regularly analyse ad performance data to ensure that advertising dollars are being well spent. This data is generally easy to retrieve -especially with Facebook Ads – and it allows advertisers to gain a better insight into their marketing efforts, what is working and what should be changed.
Determine what similar characteristics – such as the type of content chosen, the message delivered, and audience targeting settings – are present in the better performing ads and use that knowledge to assist with future campaigns. Conversely, it is just as important to terminate any underperforming campaigns and to discover what variables may have caused this.
Facebook provides us with many key metrics to interpret ad performance and often considered the most important is the Cost Per Result. The cost per result could be cost per click, cost per engagement, cost per video view, etc. and will be determined by the marketing objective you decide at the beginning of the campaign.
Brendan Kane, the author of the book ‘One Million Followers’, credited his massive following on Facebook to an extremely thorough testing process. Kane would split test dozens of versions of similar content and determine what variables in the ad copy or audience targeting were performing better than others. The better performing content would then provide a new baseline, where he would create even more variables to optimise further the content he was creating for his audience.
It is essential to factor in that return on investment metrics for social media marketing differs from that of traditional marketing. Social media allows school marketers to form deeper connections with their audience and can result in other benefits that are harder to measure and track. These include increased website visits, word-of-mouth referrals that lead to enrolments, building brand engagement, and the school’s image and strengthening loyalty.