Tracking your ad’s performance should be a key task you carry out each day.
No one wants their ads running off into the wild unsupervised, that will just lead to chaos and a diminishing bank account.
We all dream of hitting that $10K/month profit and the only way to do so is by making sure you’re not throwing your money into a metaphorical fire… or literal pits of Facebook.
When you track your ads properly, you kill off the ones that aren’t performing well which allows you to spend more money on winning campaigns, reach broader audiences, and make substantial profits – leading you closer to that $10,000 monthly salary.
Important Facebook Ad Metrics To Track Daily
There’s a little secret to quickly look over important metrics so a 10-minute task doesn’t turn into one that takes an hour or longer.
Want to know the trick to tracking your ads performance at supersonic speeds?
Just customize your Business Manager admin columns!
Its simple to do:
- Go to ads manager
- Select the campaigns, ad sets, or ads you want to track
- Select the columns dropdown menu
- Click customize columns and select the box next to the metrics you want to view
- Click apply and then you have all of your important metrics visible within the dashboard
I recommend viewing the following columns:
- Amount Spent
- Unique Link Clicks
- Cost Per Unique Link Click
- Unique Content Views
- Cost Per Content View
- Unique Adds To Cart
- Cost Per Unique Adds To Cart
- Cost Per Purchase
- Website Purchases
- Website Purchase Conversion
- Purchase ROAS
How To Track Your Ad’s Performance On Facebook
When it comes to tracking your ads you should only start monitoring them after a full 24 hours past the launch.
Because you want to give Facebook’s algorithm enough time to optimize the ads for placement.
The metrics within the first 24 hours are pretty volatile so it’s not worth checking and stressing out over.
And the first time you check your ads after the 24 hour period, make sure to check out the amount spent so that way you can gauge how well facebook optimized the ad for the whole day.
If your cost per link clicks are too high it may just be because facebook didn’t optimize your entire budget.
Once the initial 24 hours pass you should start monitoring your ads performance 2 times each day. Once in the morning, and once in the evening.
Don’t obsessively check each hour because the data is going to be all over the place – you don’t need to witness the ups and downs.
I recommend checking around 8 a.m. every morning, and again at 5 or 6 p.m. each night. Your scheduled checks should be the first and last task of your workday.
Once you customize your report columns, your benchmark metrics should be:
- Cost Per Link Click
- Cost Per Purchase
- Amount Spent Per Day
- Purchase ROAS
Which brings me to the question you must address when tracking your ads, “Am I breaking even?”
And unfortunately, Facebook doesn’t provide a metric for you to glance at to see what your break-even point is – but we do.
The Skup team created a nifty ROI calculator for you to use when determining winners… and losers.
All you have to do is enter the amount you are selling your product for in the Product Price entry
Then, enter the profit per item which is (the amount you’re selling it for – the amount your supplier charges). So if you’re selling a product for $40, and your supplier charges $15, then your profit will be $25
And finally, you enter your average conversion rate on the sliding scale to reveal what your break-even point should be for you cost per link click as well as your cost per purchase!
You can check out the Skup ROI Calculator here.
So now that we know our break-even point, where do we go from here?
If your ads are performing below your break-even point, then you need to kill them.
If ads are at that break-even point or even higher, scale them by 20% or you can create new ads with broader interests for further reach!
Tying It All Together
Now that you know how to track how you’re ad’s performance, we’re going to move on to the next section that discusses how to interpret the metrics and take actions based on the reports.
For now, make sure to download this free PDF that outlines a quick schedule breakdown, metrics to measure, and how to use the Skup ROI Calculator – see ya in the next section!