Are you taking advantage of the actionable data Facebook offers marketers? If you answered yes, that surely means you have you explored the Facebook Analytics dashboard and seen all the wonderful goodies it has to offer.
Facebook Analytics is a robust tool that lets digital marketers explore users’ interactions with advanced goal paths and sales funnels for Facebook ads. In this blog post, you will learn how to get started with Facebook Analytics.
What Data Is Available to You in Facebook Analytics
While Facebook Analytics is a free tool, it’s designed to work with Facebook Ads which do have a cost attached to them.
Previously, Facebook allowed you to see only the last touch point in your funnels. For example, if someone interacted with seven of your posts but purchased on the eighth interaction, only the final interaction would be given credit for the conversion.
Facebook now allows you to see the full interaction path to the conversion, rather than just the last touch point in years past. As a digital marketer, you know how important and powerful this is to increasing your campaign ROI.
- Advanced machine learning/AI capabilities to display important insights, such as which audiences are most often engaging with or converting from your content
- Omni-channel analytics so you can view users who hopped from the Facebook app to your app to your website back to Facebook on desktop before converting
- Custom dashboards so you can see important data at a glance
- The ability to build custom audiences based on omni-channel insights
- The ability to create event source groups from the dashboard, allowing you to segment and retarget people who followed a specific event path on your page
The redesigned Facebook Analytics is one of the most significant updates since the massive algorithm change. Now let’s look at how to navigate the analytics dashboard interface to find the information that matters most to improving your marketing performance.
#1: Access Your Facebook Analytics
To begin, navigate to your Facebook Analytics dashboard. Side note: For this dashboard to work, you need to install the Facebook pixel. Once you’ve installed it and given it time to season, your Facebook Analytics dashboard will pre-populate with all of your site data.
When you first open your analytics dashboard, you’ll see an overview of your analytics.Click Dashboards in the left sidebar to view your omni-channel and custom dashboards.
Click Activity to delve into analytics specific to active users, purchases, funnels, and more.
As you explore your data, you can add relevant charts to a custom dashboard for easy access. To pin data to a dashboard, click the Pin to a Dashboard icon in the upper-right corner of the chart.
In the pop-up box, create a new dashboard (or select an existing dashboard if you already have one). Then enter a name for your chart and click Add to Dashboard.
#2: Review Activity Reports
Reports are the mainstays of analytics software which allow you to understand the data better based on specific needs so you can make more informed decisions in your marketing campaigns. Facebook’s updated analytics dashboard has thorough reporting capabilities. You can deep dive your user data, looking at micro-conversions mixed with several demographics and events. The combinations you can use is extensive.
As an example, let’s say you own an ecommerce website and want to find out which customers are converting best from your Facebook channel. Choose Activity > Revenue to generate a report of purchase-related data.
To narrow the data, select an option from the Show By drop-down menu.
For example, select Traffic Source to look at conversions based on traffic source.
What’s really awesome is that you can create cross-channel funnels to test which interaction paths have the highest conversion rates. To create a funnel, go to Activity > Funnels and click Create Funnel in the upper-right corner of the page.
Some funnel illustrations include:
- Users who messaged your Facebook page and then made a purchase on your website
- Users who commented on a certain Facebook post and then made a purchase
- Users who reacted a certain way (such as Love, Wow!, or Haha) and then made a purchase
- Users who installed an app and then made a purchase on your website
As you can see, your funnels can be really detailed and setup any way that you’re comfortable with. They have the flexibility to be as simple or complex as you want to make them.
#3: Use Facebook Analytics Data to Inform Your Campaigns
The real value of Facebook Analytics is how you use the data to make informed decisions for your marketing initiatives. It’s important to note that even if a Facebook ad campaign isn’t converting well, it may still be having a positive effect on your overall bottom line. These insights can help you see that.
For example, suppose that one of your Facebook ad campaigns gets people to click to your landing page, but does not convert. From there, people may interact with another retargeting campaign that’s converting well. Remember that without the initial campaign, you wouldn’t get the first touch point that arguably led to the final conversion event later down the sales pipeline. The first touchpoint is NOT meant to be the introduction AND closer. Just won’t ever be that. So get conversions and sales and all that out of your mind with top of the funnel marketing campaign initiatives.
So how do you use this data to your advantage? One way is to see which funnels are converting best and then push to get more people through those funnels that convert well!
For instance, if you notice that most people convert after messaging you on Facebook, you can use Messenger chatbots to automatically engage with anyone who likes your page. Or if you notice people convert better after commenting, do more to encourage comments such as making engaging Facebook posts with questions for your audience to answer.
These ideas just scratch the surface of what’s possible. If you’re creative, you can use analytics data to inform almost every decision you make, such as:
- Which channel to drive traffic to
- Which audience to target
- What type of content to post
- Where to place your ads
I really encourage you to take some time to really explore your Facebook Analytics data. Examine the reports in relentless detail, try new combinations of funnels, and target different audiences to harvest more data to play with. The more time you spend on your analytics, the better you’ll understand the breadth of data available.
If you want to get the most from your social media marketing, understanding your Facebook analytics data is a must. With this data, you can maximize your engagement and conversions, and get better results from your marketing efforts. It’s like a complicated drama or murder mystery, the more times you reread and go over the same info you will start spotting new little nuggets of information that you didn’t notice the first time and that’s honestly where you’re able to start taking those ideas and putting them to work trying new combinations that improve your ROI. Digital marketing campaigns, whether ran on social media channels or search channels or native ad networks start out as winners. It takes time to be carefully crafted into a winning story by a trained storyteller, or digital marketer. Using Facebook analytics gives you so much more power and control over your campaigns and ad budgets that it makes little sense to run a Facebook ad campaign without using it. Facebook analytics are like a pilots navigational controls and gauges that allow pilots to fly in any type of weather safely.