3 Big Benefits of Facebook’s New Reports
Published: September 13, 2013
Author: Melissa Polsky
As most of you know, Facebook recently released a new reporting interface for advertisers. This new structure allows for more precise reporting and refined targeting, something every advertiser looks for. One of the great aspects of this new report interface is that is has been designed to be extremely user-friendly. Advertisers of all skill levels are able to easily navigate through the different reporting options and manipulate the data to fit their needs. With that being said, check out these three ways to increase your Facebook ad reporting efficiency.
1. Customizable reports
Gone are the days of generating multiple reports, then deleting 10 columns in Excel to finally display the data you need. With the new reporting structure, you can easily pick and choose which metrics you want to see, including both on-Facebook, and off-Facebook conversions. Facebook essentially condensed all of the old reporting types into one easy to follow, customizable structure. Want to see how many website conversions a specific ad generated, and what the cost per conversion was for men vs. women? You can now get all that data in one simple report.
Use this customizable feature to your benefit. Set goals for each ad (increasing engagement on a page post, generating leads, etc.), then use the customizable reports to gather the specific data you need to measure success. If you generate the same report multiple times, remember to click the “save” button and Facebook will keep that report on file so you can easily access it anytime without re-entering the dimensions.
2. Age/Gender Metrics
Great ad performance is often due largely to great targeting. Facebook’s new reporting structure allows advertisers to get granular with demographic targeting. You can now see precisely which ads perform best with different ages or genders, and which demographics are giving you the lowest cost per conversion.
Let’s say you are testing two different images, one with a red border, and one with no border. The new demographic reporting will allow you to see how different age brackets and genders respond to the two images, allowing you to optimize creative accordingly (hint hint: this can save you lots of money and time). It will also give you a good indication if your ads are appealing to the right audience.
Don’t forget to pay attention to age groups or genders that have negative effects on your campaign. Perhaps women ages 55-64 have the highest cost per conversion – try excluding this audience from your campaign and observing any performance changes.
3. Placement Reporting
With the numerous placement options available to advertisers in Power Editor, it’s important to know which ones are performing best, so you aren’t pouring money into bad ads. The new reporting structure allows advertisers to see which placements are best for different ad creative or ad types. This is something every advertiser should look at. We typically suspect that newsfeed will perform best, but will mobile or desktop give you the highest CTR or lowest cost per conversion? These questions can be easily answered on an ad by ad basis in one report.
I would strongly urge every advertiser to take a deeper look at Facebook’s reporting and search for ways to make it more valuable to your campaigns. Use the customized reports to get the exact data you need, analyze age/gender metrics to refine your targeting, and test different placement options to ensure your audience is seeing and responding to your ads in the right placement. Reporting can often be a hassle or even overlooked, but these new metrics and reporting options make it an extremely valuable asset for advertisers to have.