12: Metrics Basics you need to know

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Episode Summary:

In this engaging episode, the discussion centers on the common pitfalls in tracking digital advertising campaigns and the importance of understanding key performance metrics. 

Stacy goes  into why many advertisers feel their ads aren't working, highlighting the significance of tracking the right data. She offers insights into the misconception surrounding the return on ad spend (ROAS) and stress that not every campaign can be measured by this metric, similar to expecting a fish count without having fished. 

This clarifies the need to set realistic expectations and objectives for every advertising campaign.

 The episode concludes with valuable steps on customizing reports in Facebook Ads Manager to ensure accurate data analysis, further enhancing the listener's knowledge and confidence in managing ad campaigns.

Key Takeaways:

• Understanding the right metrics to track is crucial for determining ad effectiveness.
• Return on ad spend (ROAS) may not apply to all campaigns; knowing your campaign goals is key.
• Beginners should focus on affordable campaigns like traffic or video view campaigns with appropriate metrics.
• Customizing your columns in Facebook Ads Manager is essential for an accurate understanding of your campaign data.

Notable Quotes:

• “You're not looking at the right metrics. The best way to know what metrics you need is to understand your campaign objective.”
• “Not every campaign you can track and base any decisions on ROAS.”
• “I'm going to give you just a short, a short demonstration… you can customize what results you want to see.”

Resources:

• Facebook Ads Manager: Link to Facebook Ads Manager (URL provided for context)
• Stacy's Quiz GPT  for advertising readiness 

Listeners are encouraged to tune into the full episode to gain deeper insights into optimizing ad campaigns and to explore upcoming episodes for more expert guidance on effective advertising strategies.

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Episode Transcript

SPEAKER_00 (00:00):
What if your ads have been crushing it the whole
time?
You turn them off because youthought they didn't work.
Today, we are going to talkabout why it's so important to
know how to track your data andwhat you should be tracking.
Because so often people arethinking their ads don't work

(00:26):
and turns out, They wereworking, they just didn't know
either how to look to see ifthey were working or they were
looking at the wrong metric.
You hear a lot of times outthere, oh, I got 10X, I got 5X,
you know, whatever your ROAS is.
And so a lot of times when I'mtalking to business owners and

(00:48):
they're wanting to work with meor seeing if I would be a good
fit to work with them, they'llask me, just this blanket,
what's your ROAS?
And It's such a misunderstood, alot of campaigns don't have a
tangible ROAS.
That's like going to the lakefor the weekend and coming home

(01:10):
and having people say, how manyfish did you catch?
And you say, none.
And they say, oh, you're aterrible fisherman.
And you say, well, I didn'tfish.
So I can't really, it doesn'tmatter.
So that's the first thing I wantto get out of the way.
Not every campaign you can trackand base any decisions on on

(01:35):
ROAS.
So Let's talk about some basicmetrics that every brand new
person to ads should know about.
Because if you've tried to doads and you're learning and
you're watching YouTube videos,you may be looking at like low
budget.
I have a small budget.

(01:55):
What kind of ads can I run?
And a lot of times people willsay either run a traffic
campaign or or run a video viewcampaign for retargeting.
Let's say that's what you'redoing for a video view campaign
and you go into your metrics andit looks like, oh God, these are
doing terrible.
And that's probably becauseyou're not looking at the right

(02:20):
metrics.
The best way to know whatmetrics you need to know and
what to track for are what isyour campaign objectives?
Are you going for sales?
Then yes, that would be returnon ad spend, cost per result,
how many results you'd want totrack for that.

(02:40):
If you're doing a video viewcampaign, you're not asking
anyone to click or to opt in orto do any kind of conversion
whatsoever.
You shouldn't be looking atclick-through rate and clicks
and cost per click.
Because you're not asking anyoneto do that.

(03:02):
In order to do this, you want toknow a basic overview of what
you're looking for and how toset it up.
I'm going to share my screen.
I'm going to give you just ashort demonstration.
So really quick, since you'relistening and you can't see my
screen, let me walk you throughit.

(03:23):
To find your reports in FacebookAds Manager, click on Ads
Manager, and then look for thecolumns dropdown near the top
right.
And what I want to show you orpoint out is that you can
customize what results you wantto see, like leads, cost per

(03:44):
result, and more.
And when you first go in there,and let's say you're running a
video view campaign, and you gointo that setting, it's already
pre-populated.
So if you didn't customize itfor the metrics you're looking
for, you could look at themetrics and say, oh my goodness,

(04:06):
this is really tanking becausemaybe it says zero across the
board because it auto-populatedor it was preset to clicks and
click-through rate and cost perclick, and that is blank.
So you feel alarmed.
Now, if you want to see thescreen share example, there's

(04:29):
also a video of this and I'llput the link to that in the show
notes.
So let's say you want to do alow cost campaign and you want
to track for video views.
You would set up your campaignas engagement, video views.
You would go down to yourcolumns and you would set them
up.

(04:49):
And here's the settings that Ilike when I'm doing a video view
campaign.
I like to do through play.
cost through through play andcost per result, 50% video
watched and for 100% as well.
So check out the video if youwant to see me demonstrate it.

(05:13):
Hopefully this has made senseand you are one step closer to
understanding just simplemetrics enough to make good
decisions and hang around ifyour campaign is actually doing
something good and make somedecisions if it's not.

(05:33):
I will end this with thank youfor listening.
As always, this was a little bitlonger and clunkier because I'm
doing this video thing at thesame time.
But I also want to say that Ihad fun yesterday.
I created a custom GBT.
And if you're deciding whetheror not you want to run ads, this
custom GBT is like a fun littlequiz.

(05:54):
And it's going to ask you thequestions and you get to
interact with it and see if yourbusiness is ad ready.
You need to have a paid versionof ChatGBT.
But if you do...
Come have a look.
I'll put the link in the shownotes.
Click on it.

(06:14):
Have some fun.
And if you don't have the paidversion of ChatGBT and you do
want to do this, I am in theprocess of creating this in a
PDF type quiz.
So you can reach out, messageme, and I will get that to you.
In the meantime, thanks so much.
And I will see you next time.