How to start using Facebook Analytics to grow your business

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Facebook Analytics, or web analytics, is the measurement, collection, analysis, and reporting of web data for understanding and optimizing the use of the web. When is a powerful analytics platform that allows you to know the entire user’s path who has passed through Facebook channels, having a granular view of them?.

One of the peculiarities of online advertising is measuring results and making decisions based on data. Have you ever noticed that Facebook Ads Manager and Google Analytics only provide pieces of a puzzle but not a complete picture?

The Ads Manager can show many metrics for each advertising campaign, especially when using the Facebook Pixel. However, it is still limited as it only considers the actions within the attribution window starting from the click or display of the announcement but does not consider the organic interactions on the Facebook page that occurred previously.

In short, it does not consider the general history of each user; instead, it uses the attribution for the last touchpoint to measure only the results of the previous ad clicked or viewed.

The Topic Of This Post

  • 1 The usefulness of Facebook Analytics
  • 2 How to set up Facebook analytics
  • 3 The Dashboard

The utility of Facebook Analytics

The usefulness of Facebook Analytics arises from the fact that the web marketing activity does not stop at the results of a single ad but sees the user go through different touchpoints, in a path characterized by various interruptions and deviations, before reaching the conversion. 

In web marketing, conversion means when a user takes a specific – measurable – action that is important to your business. Examples are access to the site, the visit of the final.

Therefore, it may be of interest to know after how long the user buys and what path he takes, starting from his first interaction with the Facebook page.

Facebook Analytics can group different Pages, Pixels, and Apps to provide a complete picture of user interactions over time. For the first time, we can track organic and paid coverage results across multiple devices and sessions.

How to set up Facebook analytics

The most complex part of Facebook Analytics is its setting, which requires practical knowledge of the Business Manager, within which you can access the Measurement and Report menu by selecting the Analytics item:

You will now greet a list of pages and pixels. However, using a single Pixel or a single page may be limited compared to viewing a complete picture. We can create a group with the origin of the actions by pressing the button at the top right.

Proceed by giving a name to the group and selecting the Apps, Pixels, and Pages to include or avoid.

To access the resources, you must be an administrator of the Business Manager that manages them.

As for the Pixels, the owner needs to share them with the analyst from the BM settings.

The Dashboard

When you log in to Facebook Analytics, a default dashboard is shown with the most relevant data regarding:

  • Growth
  • Interaction
  • Demography

The possibilities are endless, but let’s look at three prevalent types of reports.

Funnel

Funnels allow us to trace the user’s path from the first touchpoint to reaching the final goal. By selecting Funnel in the left menu, we will get this screen:

By creating a funnel, I’m going to select the different phases in sequential order. I’m checking the conversion rates between Facebook comments, website visits, and completed subscriptions in the example below.

In this case, 13.3% of people who commented on a post on Facebook visited the website, and of these, 25% completed the registration to book a medical visit.

Considering the overall figure, 3.33% of users who commented then requested the service by releasing their data.

Finally, we can know the actual value of the interactions on the insurance Facebook page! But don’t forget to save the report by clicking on the top right so that you can recall it at any time.

Revenues

By clicking on the item Revenues in the menu on the left after selecting the date range, you will be capable of understanding the turnover produced by the activity on Facebook, the number of unique buyers, the average value of a customer and a purchase, and the number of average assets for each customer.

Scrolling will show other graphs that show the number of purchases over time and their breakdown by age and gender.

Customer Lifetime Value

The customer lifetime value. Lifetime Value (LV) or Customer Lifetime Value (CLV) is the customer’s total value for a company; for the entire period of its relationship with it is the profit that a customer generates over time. From the moment in which he is not limited to a single purchase but completes others subsequently.

Once you have clicked on the relevant item, we choose whether to include all users or only those who have made a purchase.

Regular reports in Business Manager are limited to considering the cost per conversion and revenue for each purchase. On the other hand, looking at the CLV, we can see how much a customer is worth considering his purchases over time.

If we realize that the CLV is much higher than the initial value, we can spend more acquiring a customer, perfecting the calculation on the actual acquisition value.

It’s time to try this powerful tool!

Thanks to it, we could have the possibility to adopt strategies that we had never thought of before.

With Facebook Analitycs, we could have advantages over the competition, studying the contents and strategies that convert best within a complete analysis framework, optimizing earnings.

 

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