This post will tech you about almost all the important things of Facebook Analytics and will give you a brief insight of how to use the tool.
Over the years, Facebook has become the single largest conglomeration of people in the digital space. Around 1.4 billion people use it on a daily basis, which means that 1 out of 5 people in the world are on Facebook. With such a vast user base, it should be a goldmine for marketing and advertising your business. It definitely is, but not without some challenges. Some of the challenges are running facebook ad campaigns and understanding how to use facebook analytics. We have already posted a guide for beginners on how to use facebook ads here on our blog. Now, let’s dive deeper and understand how Facebook Analytics actually work.
The Need for Insights
Table of Contents
- 1 The Need for Insights
- 2 Getting Started with Facebook Analytics
- 3 Understanding the Basic Features of Facebook Analytics
- 4 Facebook Analytics: The Core Features
- 5 Conclusion:
Facebook boasts more than 2 billion monthly active users, a figure that surpasses the population of China. This is equivalent to the consumer base of giants like Nestle and Pepsico. For any medium-sized company, the pool of users should be nothing less than an ocean. However, sadly this isn’t the case. Even if your business is in a popular niche, chances are that you are struggling to find a reach while your competitors are thriving. Some other times, you might be having a lot of subscribers on Facebook but are unable to convert them into consumers. What went wrong? The answer to this varies, but a tool was needed to solve this anyway. This is where Facebook Analytics stepped in.
Essentially, Facebook Analytics is a tool that processes the data related to your page on Facebook for various metrics. The tool performs analytics on this data and generates insights.
Getting Started with Facebook Analytics
Well, first things first. Setting up Facebook Analytics is the first and often the most difficult step of the journey. For starters, you need to know about something called Business Manager. Facebook Business Manager is essentially a small space within the platform where you can manage all your pages and ads at one place. Once you get the gist of it, you need to follow the below steps:
- On the Business Manager page, choose Analytics under Measure and Report Menu.
- There is always the option to choose a single page or pixel, though it wouldn’t be of much use. The better way would to Create an Event Source Group.
- You would have to set the name of the ESG and whether to include app, pixel or page. Then, you can select the apps/pages/pixels you want to include for analytics.
- Once done, you would be redirected to the Facebook Analytics Dashboard.
Understanding the Basic Features of Facebook Analytics
Being an analytics tool, it is natural to assume that the features would be abundant. Since different cases have different requirements, you would require various views and parameters to have multiple insights. Here are the basic features you would find on Facebook Analytics:
As the name suggests, Overview gives you information about the basic information about the page. It is useful if you only want to keep tabs on the progress of your page without delving deeper. Particularly, three metrics are provided:
- Likes:The number of new likes your page had in the past one week.
- Reach:The number of people who saw your posts in the past one week.
- Engagement:The number of people who interacted with your posts in any way.
Note:The default time frame for the figures is 7 days, though you can change it as per your needs.
Page likes are similar to the subscribers on the email list. These are the people who are (almost) guaranteed to be part of your post reach. Hence, having more likes at a steady rate is important. The Likes view gives you three important types of information:
- The total likes you have in a specific time period, usually 4 weeks. It also shows you the net likes, that is, the new likes minus the dislikes on your page.
- The demographics of the people who liked your page. Through visualization, you can see the age and gender groups of the new subscribers. You can also see the geographical locations of these people.
- The last view shows you the breakdown of new likes over the specified time period, and shows new likes and dislikes on a daily basis.
There are two vital benefits of this feature. First, it allows you to track your page progress. If the new likes decline or become stagnant, it serves as an alert of reducing post quality or interest of users. Second, it gives an insight on the people who are interested in your page.
Advertisements are nice, but how many people actually see it? In the case of Facebook pages, it is defined as “reach”. Reach is a very important criterion for the success of any page. Often, pages with huge likes are unable to have the same amount of reach. This feature allows you to realize this and take counter-measures. The Reach feature gives you two views:
- The first view gives you every relevant data about your page reach. It divides the total reach into 3 sub-categories. The Organic reach is the reach you would normally expect: people who saw your post or page. Paid reach is the reach you achieve through paid marketing, where Facebook shows the posts to the audience that have not already liked your page. Viral reach is the most vital reach, which is achieved when people see your posts in their news feed due to the activity of their friends who have already liked your page.
- The second view shows you the visitors you had on your page. Total Visits is, as the name suggests, the total number of times Facebook users visited your page. Unique Visits removes multiple visits from the same users and count only unique visits.
The first metric tells you about the intensity of user engagement, while the latter tells you about the extent.
4) Talking About This:
This is the trickiest and the most valuable insight that Facebook Analytics provides. The question that must be forming in your mind is: What is “talking about this”? Well, it is just another name for user engagement. If Likes is the total subscribers and Reach is the total audience, Engagement is the total response. Unlike the popular perception, “talking about this” is not limited to when people mention the page in their own stories. In reality, any of the following activities would count as user engagement:
- Like the page
- Like a post
- Comment on the post
- Share a post
- Post on the page
- RSVP to an event created by the page
- Check-in (if your page is a location-based page like a restaurant, mall, college, etc.)
- Like, comment or share on a check-in activity
- Mention the page
- Tag the page
- Claim an offer provided by the page
- Answer a question/poll created by the page
This feature tells you how effectively the one-way communication of marketing is getting converted into a two-way dialogue. You can view both the user-engagement for the page and the extent of viral reach (which happens precisely due to user-engagement).
Facebook Analytics: The Core Features
While the features mentioned above are the most used features for the majority of users, it doesn’t really leverage the full power of analytics. There is so much more you might want to understand in order to have a true edge over your competitors. Well, Facebook Analytics doesn’t disappoint. Here are some of the advanced features of Facebook Analytics:
Funnels are essentially the journey of your users on the page. It helps you understand how many steps were completed by specific users, and what was the most common start or drop points. The more steps are involved in the funnel, the more engaged users are with your page. While measuring conversion, Funnel reports are a very useful insight.
While Funnel View multiple steps, Cohort Report only troubles itself with two particular actions. These actions are generally correlated and contribute to a larger action. The Cohort report shows the percentage of people who completed both the actions.
This feature effectively details the customer retention by displaying the customers that have returned to the page after their initial purchase. The true power of the feature is the real-time information. Thus, you can make changes in your strategy and see how it affects customer retention without much delay.
The revenues are the ultimate goal of doing a business. With the Revenue feature, you can keep an eye on this. Various metrics include:
- Average Revenue per customer
- Average revenue per purchase
- Average purchase per customer
The feature also lets you visualize the revenue trends over time.
5) Custom Dashboard:
It would be a mistake to assume that Facebook Analytics ignored your convenience. The Customer Dashboard is your one-stop for all the reports that you find relevant and important. It saves you from the hassle of generating it every time it is needed.
Naturally, this post cannot teach you everything about Analytics. There are still a lot of nuances and sub-features that you would learn only via practice. But through this guide, you are ready to set up and use the core features of Facebook Analytics tool.