Facebook is already a key platform for marketers and business owners who want to grow and engage their customer base. And with over 2 billion users worldwide logging on each month, it offers huge potential to get your business in front of your target audience. Although you have to be savvy and understand your audience to really benefit from Facebook marketing, it can be a worthwhile investment.
But before you make that investment and decide what and when to post, you need to get to grips with the most essential Facebook KPIs, i.e. those buzzwords that everybody’s throwing around like confetti. In this article, we’ll explore what is it exactly that you need to be tracking on Facebook in order to evaluate the success of your campaigns.
There are several essential KPIs to track on Facebook in order to monitor your performance. While Reach, CTR and Engagement are ultimately the most important, there are also a couple of other useful metrics to keep in mind as well. So, let’s run through the list!
In Facebook terms, impressions are the number of times a post from your page is displayed. For instance, if a user sees your Facebook update in his/her own feed and then later on sees it again when, say, his/her Mom shares it on her own feed, that will count as 2 impressions for 1 user.
Reach, however, is the number of unique views your post receives. The number of Impressions on a Facebook post will always be higher than the Reach. Why? Because Reach counts individual views whereas impressions includes numerous views by the same person. Reach can be of three different types: Paid, Organic, and Viral (a dream come true to us all).
3. Engagement Rate
Your engagement rate tallies up the total number of likes, reactions, comments and shares on your Facebook post to give you an overall percentage of engagement based on your follower count at the time of the post. Find out which kind of engagement you’re receiving the most (whether it’s likes, comments or shares) and even which reaction your fans are giving your content (is it thumbs up or love emojis?). You can also determine the type of post that gets the best engagement by checking your engagement by post type.
4. Link Clicks
The number of Link Clicks shows you how many times the link in your post (perhaps leading back to a blog article or landing page) has been clicked. Don’t confuse Link Clicks with ‘Post Clicks’, which is a calculation of how many clicks there have been anywhere on your Facebook post (this could be a click on the post image, or back to your Facebook profile, for example).
5. Click-Through Rate
Also known as a CTR, a Click-Through Rate is essential to track so that you know how many of the people who saw your content actually clicked through to your website or landing page. To work out the CTR of a post, divide the number of link clicks by the reach, and multiply by 100.
Click Through Rate is a better indicator of how engaging and enticing your posts are than simply looking at the Link Clicks. If 50 people see your post and 25 click through, that’s great! But if 150,000 people see your post and 25 click through, you need to change your approach…
Additional Facebook KPI’s
6. Audience Growth
it’s helpful to monitor your gained and lost fans on a regular basis and keep tabs on when you’re gaining lots of followers (or losing them, but we hope that’s not the case!) to see if it coincides with particular types of content.
7. Star Ratings
If your page is listed as a ‘Local Business’, Star Ratings can be a good indicator of how your business is received in general. Amassing great reviews and hitting the 5 star mark shows your Facebook followers that your service or product is of high quality, and can help convert visitors to customers! You can find star reviews. You can enable or disable star ratings in your profile settings.
Keep track of the written reviews you receive to learn what is working with your customers and what you need to improve on, whether that’s on or offline!
Where to go from here?
If you keep an eye on these metrics and tailor your strategy accordingly, Facebook will become a key part of your journey to marketing success! Remember though, you don’t need to be working towards a million different goals at once, or tracking every single KPI religiously (in fact, you shouldn’t be!).
The KPI’s you want to pay the most attention to will be the ones directly relating to your long term Facebook goals and your overall marketing strategy. If you want to build a community and boost brand awareness, engagement will be a key metric for you. But maybe your priority is driving traffic to your online store, and so you’re focused on Link Clicks and CTR. Whatever your end goal, when it comes to Facebook, keep at it, be patient, and harness your findings so that you can constantly improve.
*Facebook Insights on the Iconosquare platform are available to Master, Elite and Enterprise accounts