In March 2017 " Facebook had 1.28 billion active users every day, and more than 85% of those users were outside the United States and Canada. <- more ->
With so much of the world using Facebook, marketers around the world know Facebook is a great place to reach and engage new audiences.
You've probably heard these statistics before. After all, Facebook is a given to marketers. And if you're trying to reach new audiences, you probably know that paying for Facebook ads is a great way to do it.
That said, knowing that a channel is effective is very different from creating an effective strategy.effective for your unique brand. With more marketers on Facebook each quarter , it's harder than ever to create a strategy that will stand out from your competition and drive return on investment (ROI) Your Brand
But if you're ready to start spending a budget on your Facebook strategy, it's important to understand how your efforts are affecting your business results. Otherwise, how do you justify your spending?
Fortunately, with the help of Socialbakers, a global leader in social media marketing analytics, we've put together a data-rich report and how-to guide to help you build a better Facebook Ads strategy, measure your success, and improve the ROI on your ad spend.
First, we will teach you how to calculateyour social media ROI so you can compare your ad spend against your industry and region. Then use your calculations and compare them to the benchmarks in the full ebook. We'll also help you create a strategy for your Facebook ad campaigns along the way.
Are you ready to set a killer Facebook ads strategy and get the latest industry data on social ROI? Get the full guide now.
How do you start to measure the ROI of social media?
Why measure the ROI of your spending? It’s pretty straightforward. If you want your ads to have an impact on the rest of your marketing funnel, you need to measure what they generate and the return you get, which will ultimately define where marketing dollars are best spent on them. future cacampaigns that generate the best results, leads, conversions, customers, etc.
Let's take an example. Suppose your Customer Acquisition Cost (CAC) is typically $ 100 per customer. Your boss wants you to run a Facebook ad campaign to generate new customers and gives you a budget of $ 1000. You launch your first campaign and generate eight new customers. Was it worth it or not?
How to measure ROI:
Measuring ROI is pretty straightforward. You just need to take the amount you spent (cost) and divide it by your returns *.
* The "returns " you measure will vary depending on your type of goal. If your goal is to generate more leads, you divide your costs by the number of leads you generate. The same goes for customer acquisition announcements, application installation announcements,website clicks, etc.
In the example above, you have to take the amount that you spent ($ 1,000) and divide it by the number of new customers you generated (8). This would mean that you acquired eight new customers at a cost of $ 125 per new customer. If your boss tells you that your typical CAC is $ 100 per customer, you know that the return you get from that ad campaign is higher than your typical CAC.
ROI = total amount of investment / total return
If your campaigns generate a lower return on investment than other strategies, it probably means that you need to optimize your strategy to reduce your costs. You can do this in a number of ways, such as optimizing your content or targeting your targeting strategy. Get moretips in this complete ebook .
The example we just used assumes that you already know a benchmark to compare your campaign results to. But what if you don't already have this information?
In this Facebook Ad Optimization ebook , we have brand new data that breaks down typical ad spend by campaign type and region to give you a starting point for evaluating the success of your campaigns.
Ready to start? Download the "How to Use Data to Optimize Your Facebook Strategy" ebook now.
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