Be it a small-scale online business or a large unit, everyone wants to dramatically increase their business results in the long run through different social media practices. Referring to the old saying “if you can’t measure, you can’t improve”; you can’t identify what’s important and easiest way to make the most impactful improvements.
For example, are you, as a business owner, going to focus on your business improvement efforts, your online advertising, your email marketing, or on converting more leads into potential clients? So, tracking these social media metrics will answer the most critical and crucial questions and more.
Facebook (which now is called Meta – reflects the organization’s growing ambitions beyond social media) offers tons of metrics required to monitor your business’s campaign performance. Facebook metrics also recommend you optimize the marketing tactics on the platform further.
Sometimes, for startups and new businesses, it’s hard to get their head wrapped around the plethora of existing Facebook metrics and dig out the key signs required for evaluating their performance better.
Why It’s Imperative To Analyze Facebook Metrics For Businesses?
Statistics say Facebook has around a 2.9billion active users every single day. This confirms that Facebook still is the ruler of social media marketing despite the fact that brands and online businesses hunting down the best social media platforms to jump on.
Be it powerful advertisement options or signing up new/existing Facebook groups, this social media platform among all has many possibilities online businesses and SMBs should use. Having an active Facebook presence can help any business pull potential customers and eventually witness business growth. Ignoring such a brilliant customer base without assessing Facebook insights can be a total waste of such a powerful marketing channel.
Therefore, it’s significant to have a data-driven strategy obtained from the key Facebook metrics aligned with your business’ marketing goals in order to make it your success mantra for your business.
Avoiding the Facebook metrics and promoting your business online can lead you to target the wrong audience, doesn’t create a lasting impression of your posts, converts fewer leads, gives lower returns on marketing expenses, create less engagement, generate less referral traffic and list go on.
Therefore, you must do a proper analysis of all your key productive Facebook metrics in order to avoid the listed drawbacks.
Without further ado, let’s dig into some of the key metrics your online business need for tracking the growth of your business on Facebook.
9 Effective Facebook Metrics To Help Grow Any Business
Effective Facebook metrics are the vital signs to narrate about your posts’ reach and how well they became attention-grabbing for your audience.
Facebook engagement rate symbolizes how well your posts connect with the average number of people. Developing a compelling Facebook business profile is one thing but crafting steady engagement is a whole other skill that every business owner/marketer needs to learn.
You can calculate the average engagement rate per post by calculating followers as the sum of interactions, shares, and comments divided by the number of posts; then all are divided by the number of followers and multiplied by 100.
When you see more people engaging with your posts it’s evidence that your content is appealing to your target audience. So, using Facebook’s engagement metrics, you can understand which form of content is working best for your e-business and which aren’t.
This Facebook metric tells you how many people have seen your Facebook post. It’s quite a fuzzy number compared to engagement but still informs you about your potential target audience size.
If your online businesses have just seen an increase in social media demographics, then ‘Reach’ can be the most crucial Facebook metric to assess your brand awareness program. However, if you want to see a drastic increase in your ‘Reach’ on Facebook, then considering Facebook Ads should be your first priority for the needed boost.
By examining your Facebook Reach metrics, you will see which post on your Facebook business account is getting more organic reach. Doing so, you can further boost it to ten times.
Another reason to examine and make every effort for generating good reach is that it directly affects your engagement metrics. The more your posts reach, the better your chances of securing a good engagement rate.
Facebook’s Reach metrics and Impression metrics are somewhat the same with a slight difference. Facebook’s Reach metrics get the count for every unique person seeing your posts whereas Impression metrics count the number of times the user has seen your posts, no matter if it’s the same person viewing it over and over again.
Remember, tracking Facebook’s Impression metrics is an exceptional way to dig out the virality of a post. A good and first-of-its-kind impression can also lead to successful conversion. The “marketing rule of seven” says your Facebook posts should align with your prospects an average of seven times before you plan to take any action.
Thus, having more impressions on your posts mean having more conversion rate. So keep track of the posts that receive substantial impressions and try to generate more of such content to escalate your business on Facebook.
If you have a growing Facebook business page means you are getting more attention, liking, and interaction with your content. Therefore, it’s crucial to not only measure the new followers you get but also to know how many followers you just lost in a specific period.
The important thing to bear in mind here is that you can track the growth of your Facebook followers only by using a social media analytics tool since this feature isn’t available in the native application. Remember to make your Facebook content bite-size and eye candy to attract more and more Facebook users.
Click-Through Rate (CTR)
Click-Through Rate often referred to as CTR, can be best described as the percentage of people clicking the social media posts. To calculate your CTR, you must divide the number of link clicks by the number of impressions.
Facebook’s high click-through rate results turn every marketer into a trendsetter investor, applied to both organic and paid posts.
When looking at these Facebook metrics and analyzing your Facebook ads strategy, it’s imperative to realize that optimization on the go is crucial, as well as doing in-depth research.
The Facebook feed has the highest average CTR, followed by the Facebook video feed.
Cost per Click (CPC)
When all is set to start your online business campaign, you must have an eye on the cost factor to get that conversion. Take all the costs of the social media campaign and divide them by the number of clicks you get.
Many brands put a tremendous amount of their profit into Facebook advertisements. Therefore, having an in-depth calculation of your Facebook ads metrics is mandatory to create a complete and bulletproof Facebook strategy report.
Remember that Facebook video feeds have a lower cost per click than Facebook feed.
Facebook Audience Metrics
Facebook Audience metrics give you a piece of in-depth knowledge about the age, gender, location, and language of your business’ fans, followers, and the audience that you have reached.
Best Time to Post
You may think Facebook posts are welcomed by users anytime, primarily because the notification bar exists, and your followers can find your new content in their Facebook feed.
However, to make sure all eyes are on you as soon as you hit the publish button, you should check which is the best time to post on Facebook. If you take advantage of this Facebook metric, your traffic may double.
Social media studies have proved that Facebook users are more likely to interact with posts on Friday when most people relax for the weekend. Moreover, content posted on weekends can register an increase of 25% in the engagement rate compared to those published during weekdays.
A picture is worth a thousand words, but videos are way more important in today’s social media strategy. If you are using Facebook videos for your business promotion, tracking your video views is a must. This metric will show you how engaging your video content is.
Knowing your target audience is the first step to developing your social media marketing strategy. Therefore, creating valuable content needs consistent monitoring. Take the right decisions by hiring FCS as your marketing advisor and make your business stand out.