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Measure and Optimize Social Media Campaigns - Facebook
Measure and Optimize Social Media Campaigns - Facebook
Measure and Optimize Social Media Campaigns - Facebook
WEEK 1: EVALUATE YOUR MARKETING reported as the number of link clicks the
RESULTS AGAINST GOALS campaign generated.
Campaigns Impressions
In this tab, information in the dashboard is This metric measures how often your ads were
organized by the ad campaign it’s in. The on screen for your target audience. For our
dashboard will automatically show you a list of example company, the number reported here is
your active and inactive campaigns, the the number of times their campaign ads were
performance of each campaign, and more. shown.
Delivery
The delivery column lets you know whether your 1.2 Understanding ROAS and ROI
ad campaign is running or not. Possible delivery
statuses include: off, active, completed, or in Return on Ad Spend
review. Here, we can see that our example ROAS is simply a way to find out how much
campaign’s ad campaign is active. revenue you made on your advertising versus
what you spend on it. The calculation for ROAS
Bid Strategy is Revenue made from the ads divided by
This column shows the campaign bid strategy. Advertising Costs of those ads.
Bid strategy choice determines how much you
spend on bids in ad actions. Our example
company chose two different bid strategies,
which you can see reflected here.
Result Metrics
Results metrics for your campaign can give you
a sense how many people your ad campaign
has reached and the results your campaign
achieved. We’ll cover three types of result
metrics, although there are more. It's a good indicator of knowing the effectiveness
of your campaign and not only if its profitable,
Results but how profitable. You never want your ROAS
Results are the number of times your ad to break even at one to one or be lower than
achieved an outcome, based on the objective one, because that means you're losing money
and ad delivery optimization you selected. Since on your campaign.
our example company chose to optimize its
campaign for link clicks, their results are
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
1.4 Understanding Customer Lifetime Value If one segment has a high LTV and
another has a low LTV, investigate the
Customer Lifetime Value, or LTV, is a metric group with lower LTV and compare them
that specifically takes into account what happens to the higher LTV segment.
after that first purchase. LTV is how much your Are those customers abandoning your
customer will spend with your business over the products? When are they abandoning
span of their relationship with you. your products? Now you can look at
why.
LTV puts more than a price tag on your For segments with higher LTV and more
customers. It puts a value on them as loyal customers use them to create a
you can track their loyalty to your new lookalike audience, so you can
business. A higher LTV will lead to a target your advertising to new customers
customer who continues to come back. who have the same characteristics as
LTV can also help you see whether those already giving you the most
you're spending the right amount on business.
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
Because you're looking not just at The difference in results or sales can
monthly or quarterly sales, but sales that then be considered the result of your
extend years or even decades, LTV advertising.
forces, big picture thinking. Now you're
looking at customers, not just as a one Experiments are carefully planned ahead of
of sale, but as a long-term relationship time. That's because they involve creating
to grow and cultivate. groups of subjects that receive different
ne of the biggest things looking at LTV treatments. If you want to run an experiment to
can do is to help your business make test your advertising effectiveness, you have to
better decisions in regard to customer plan it before you create and run your
relationships. If your LTV is low or you're advertising campaign.
seeing shorter customer lifespans, then
you know you need to invest in retention
initiatives and customer support. 2.2 Using Experiments to Measure
Advertising Effectiveness
Increase LTV through:
Make improvements to your To compare the effect of changing one variable
customer service. It's not unusual to between two groups of people, it's important that
hear about customers abandoning two groups of people be a similar as possible.
brands after even one poor interaction To create two similar groups, you can use
so make sure the service and attitude randomization.
you're offering your customers is best in
class. Randomization is the process of signing
Re-evaluate the content you're people to the different groups, by chance or
distributing, increase its value to randomly. By doing that, you distribute people
your customers so they stay with certain characteristics equally over the
engaged. Offer resources like articles groups, and that way you create groups that are
and blog posts and use social media to as similar as possible.
interact with customers or to distribute
useful informative content. Experiments in advertising use
Improve your listening. Follow randomization to assign people to a
conversations about your brand and control group or a treatment or test
products on social media. Gather group. Studies that use this type of
feedback from your customers. experiment are referred to as
Build relationships with them and Randomized Controlled Trials or
solve pain points. Feeling hurt will go a RCTs.
long way towards cultivating and
keeping those long-term relationships. EXAMPLE
In terms of products, you could Imra, the owner plans a campaign to drive
change your subscription model to a online sales of the new fall bookcase she's
longer-term horizon like offering created. She's interested in knowing whether it's
annual contracts instead of monthly to worth it to spend money on advertising, so she
commit your customers longer. Or offer plans to run an experiment. Here's what would
discounts, rewards or loyalty programs need to happen for the experiment to really
to keep customers engaged and feeling prove to her what the effect of the campaign
like they're getting value from your was.
business. First, you'd identify a group of people
you'd like to show the campaign to, in
other words, the target audience.
WEEK 2: MEASURE YOUR ADVERTISING Out of this target audience, people will
EFFECTIVENESS be randomly assigned to either the test
group or the control group.
2.1 What Are Experiments? People who are assigned to the test
group may be exposed to a treatment. In
You can use experiments to measure the effects other words, they may see Imra's ad.
of your ads on the results you're hoping to People in the control group don't receive
achieve. that treatment. They won't see the ad.
For example, if one group sees your ads After the campaign runs. Imra can
and another group doesn't see your ads, compare the results between the control
you can measure how many results or and the test group. In this case, she'd
sales you achieve from the group that look at the difference in conversions or
saw your ads and compare that to the sales of the fall bouquets in the test
number of results of sales you see from group-- the group that saw the ads,
the group that didn't see your ads. compared to the control group-- the
group that didn't see the ad.
If there are significantly more
conversions or sales from the test group
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
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Facebook | Anke Audenaert
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
Based on this insight, you then adjust The accuracy of Attribution results depends
your budget proposal for next year. You on the quality of the data input, but also the
might suggest putting a smaller portion accuracy of the model.
of the budget into TV and a larger chunk
into ads on Facebook. Most Attribution analysis will use what we call
rules-based models. In rules-based models
Remember: you select the rule that determines how
Because media mix modeling uses a conversions should be allocated to add
variety of datasets from different touch points.
channels where information may not all
be immediately available in contrast to Last Click Attribution Model
online media, the information collection A very commonly used model is the last click
can be long and complex. Attribution model. It gives 100% credit to the
Moreover, the modeling approach is last click from a person before a conversion took
typically iterative and building a model place.
takes time. As a result, marketing mix Even if a person saw and clicked on
modeling is a method that takes a long many ads before that. To model still
time to execute. assumes that the last ad the person
clicked on is solely responsible for the
sale.
3.5 Measuring Across Channels with While this model is popular, marketers
Attribution agree that it's not a very accurate
representation of reality.
As Kathy moved through her customer journey.
She met many different ads, and most likely all For most conversions, it takes more than one
these ads had some effect on Kathy's decision. touch point for people to convert, hence models
that give credit to more than one touch point are
Attribution is the process of assigning credit considered to be more accurate.
to touch points along a customer’s
conversion path. Last Touch Model
This insight can help you understand Last touch models like last click models also
whether you invested in the right consider only one touch point, but in this
advertising channels and by case there's no need for a click. This model
understanding which of the channels gives 100% credit. The last ad a person
worked best. interacted with before a conversion, whether the
Attribution is mostly used to evaluate the person just saw the add or clicked on it.
impact of online media channels on a
purchase. Even Credit
Of course, you can also use it across In even credit models, equal credit is given to
online and offline channels like TV, for the touchpoints, impressions, and clicks that led
instance, but since the data is not to a conversion.
always easy to get by, the result from
this type of cross channel analysis is not Time Decay
as immediate. The time decay model gives credit to
touchpoints, clicks, or impressions based on
With Attribution modeling, you will decide on how recently they happened. This model gives
a model in which you're going to credit the more credit to touch points that happened more
different marketing channels before you start recently, so closer to the conversion.
analyzing.
Positional Model
You will think about a customer journey
In this model, first and last touchpoints, whether
and make some assumptions about
they're clicks or impressions, are given more
which parts of your marketing you
credit. While the credit for the remaining
believe have the biggest effect on the
touchpoints in the middle is divided equally.
final sale.
First Click
Elements of Attribution
The first click Attribution model, which gives
Data. Information about the ads a
100% credit for a conversion to the first click on
person saw and whether they clicked on
the conversion path.
them or took action.
Attribution model. A model that is used First Touch
to assign value to the different It gives 100% credit for a conversion to the first
touchpoints. The output is a value for click that happens in the conversion path, but if
each touchpoint that reflects the impact there is no click then it will credit to conversion to
it had on the conversion. the first impression.
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
In statistical or math-based models, you let the meaningless outside of the context of
data speak and you don't decide on a model the campaign.
ahead of time. Show what the data tell you. You want
Statistical models use all the available to tell the narrative of what you did and
data to determine which ads impact show a through line from goals, to
results. campaign, to results, to implications for
This data driven attribution model then the future.
assigns fractional credit for a conversion State conclusions and insights.
to touch points based on their estimated Explain how you got those conclusions
incremental impact. and show how those conclusions will
Instead of using your intuition to choose affect decisions going forward. Ten
a rule, a statistical model uses the slides of data to senior leadership won't
available data to figure out which be helpful, but 10 slides telling them how
touchpoints have most influence. your actions affected their bottom line
and increased sales will.
Your story:
3.6 Challenges When Measuring Across Think of your presentation as following a story,
Channels or as loosely following the scientific method,
where you come up with a question or a goal
Measure across platforms and devices around a set of actions, you execute the actions,
For instance, if you sell a product on a mobile gather data and metrics around the actions, and
app on the Web and in your store, you want to then create new questions and goals.
make sure you have a way to capture all the In our story, you start with a Smart Goal.
sales. You create a Campaign, you evaluate
results of the campaign, and you
If you're trying to evaluate the effect of your formulate Insights. These insights can
advertising on all sales, you'll have to make sure be the inspiration for a new campaign to
that all sales are indeed included, which also achieve a new goal.
means including the offline sales.
Campaign Setup
Connecting touchpoints to one person First, you always want to start with the goals you
When a person visits your website and visits determined for the campaign, as this will set up
your App along their journey to purchase. You'd the premise of the story moving forward.
want to understand that that was the same Starting with your goals and why you set
person, without that insight. them, will give you a baseline to build
from as you tell your campaigns story.
It's difficult to understand the contribution of
different touch points to your results. Historically, Next, explain how those goals turned into
advertisers have relied on cookies to connect a campaign objectives, which will move the story
sequence of touch points to a person. forward towards what actions you took in your
campaigns.
With that same person’s interactions on If you were looking to increase brand
computers, platforms like Facebook leverage, a awareness, you planned for an
persistent log in and a unique identifier awareness campaign. If you wanted to
associated with a person's Facebook account, gain 25 percent more in sales, you
when a person sees Facebook ads on mobile or planned for a conversion campaign.
on the Web.
Facebook can connect the dots, Additionally, now would be the time to speak
together with the Facebook pixel, the about the KPIs you are going to track to
SDK, and the conversions API. measure the success of your campaign.
This approach allows you to tie actions For brand awareness, you'll track ad
directly to real people, using this recall lift. For sales, you'll track specific
approach. conversion events. For more visitors,
you'll track link clicks, landing page
views, or reach.
WEEK 4: COMMUNICATE YOUR MARKETING
RESULTS Campaign Specifics
1. Show the creative you used
4.1 Presenting Your Campaign Results 2. An overview of the characteristics of
the audience you delivered it to,
3. Which platforms it ran,
Your presentation should:
4. How long it lasted (duration)
Tell a story and give context. Create a
5. How much you spent on it (budget)
presentation that's going to tell the story
of your campaign from start to finish, not
Campaign Results
just the results, because they would be
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
Data sources. It's always useful to go distributions. For instance, if you have to
over where you gathered your data break down an audience by age, the
from. Ads Manager, Google Analytics, whole pie is your complete audience,
etc. If you ran any experiments like A/B and different portions represent different
or hold out tests for instance, or extra age groups.
analysis like an attribution study, you A line graph works well if you want to
would want to let them know that too. show how numbers change over time, it
also makes it easy to compare trends,
Metrics overview. too.
1. Results (KPIs)
2. Costs Other tips:
3. ROAS (and ROI) 1. Don’t clutter the chart. As you're
4. Effectiveness adding your charts and graphs, you
should first think about how you can tell
Insights. the data story visually. In other words,
1. Evaluate your goal. Did I reach you may not need numbers and labels
my goal? Did I do so for a to communicate what you want to say.
reasonable cost? In fact, they might just get in the way.
2. Breakdown by segment. Ask 2. Use color to help the audience focus
yourself whether there's any on what matters. Your color choice will
audience or any part of your help communicate your story as well. As
campaign that seems to stand you put together your visualizations,
out in terms of results. Maybe think about using gradients of the same
you did not reach your overall color, a branded collar palette or even
goal, but you reached it among color against grayscale to highlight
a certain group, maybe a certain different metrics.
ad worked better with some 3. Make comparisons easy. It's a good
people than with others. idea to make comparisons between two
3. Apply insights to next steps. data points so the audience can easily
see what's going on.
Example: 4. Order your data when possible. Also,
Imagine you find that you didn't meet your brand make the data easier to read by ordering
awareness goal, you can show how while your it, either by size or incrementally, so that
awareness campaign had a large reach, recall it makes sense to look at.
was low in general, but when you break down 5. Pay attention to the scale. Make sure
your results a bit more, you find that for one each point on your access is evenly
demographic, recall was a lot higher. spaced out, and with the right increment
like month to month, or year to year.
Now you can find out why the brand resonated 6. Call out important points. Let the data
with them and not with others and whether that tell the story, but don't force the data to
segment could be your new target audience. fit the story you would like to see. Not all
of your data has to be in a chart or a
When you tell your data story or convey your graph. If you want to highlight specific
insights, it's important that you look beyond data points, you can do that with a call
the average data points and try to assess out.
different segments or breakdowns of your
data.
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MEASURE AND OPTIMIZE SOCIAL MEDIA MARKETING CAMPAIGNS
Facebook | Anke Audenaert
presentation software. Essentially, you grip the podium, but also don't wander
want your slides to simply highlight what and pace as you talk or talk with your
you're speaking about. Not to carry the hands, which may distract your
weight of the presentation itself. You will audience. Some public speakers build
be the storyteller and your slides are deliberate movements like a step
there to support you, and to stress the forward into their presentation to
main points of your story. highlight a point.
Use only keywords or short bullet Slow down and breathe. Allow for
points on your slides to do a simple pauses to not only let the information
visualization of what you're saying. sink in, but to calm yourself as you go.
Keep your font size to 28 or bigger. Slowing down and being deliberate in
Anything that's smaller can get hard to what you can say also eliminates
read on a slide, and that way you will distracting mmhs and uhs as well.
stick to the main points. Eye contact. Having a friend in the
Declutter them and use them to audience or someone who is attentive
highlight what you're saying or else your and nodding along, it's always helpful to
audience will be distracted trying to concentrate on, but pick a few people in
decipher your graphs. different spots of the room and look
Don't read from your slides. Use the back and forth between them or look just
presenter notes feature to see your over their heads.
notes during a presentation, or have Watch the clock. Always have clock
summaries or bullet points on note inside so that you can adjust as needed,
cards, or get to the point where you and so that you can leave time for Q and
know what you want to say well enough A.
to let your slides be a memory tool for Tech and set-up issues.
you. Set the room beforehand. Chat with
Catchy opening. A rhetorical question someone who's familiar with the room
related to your findings, or a story or an where you will be presenting, so you can
interesting fact. Grab the audience prepare yourself and then walk through
straight away and start them on the the presentation situation in your head
journey with you. Don't spend too much and use this checklist.
time on ramping up or introductions to
the topic as your audience may drift off. Once your presentation is complete, offer to
Use a story framework. Start with a send out a slide deck for anyone who wants to
problem you were trying to solve or what know more. Then plan to treat yourself to
goal you want to hit. Then tell what something nice for your accomplishment.
actions you took. Explain what you
found after you took those actions and
finish up telling how those findings will
impact future decisions.
Make your conclusion as impactful as
your opening. In fact, circle back to
what you mentioned in your opening by
either answering the questions, finishing
the story, or adding an interesting fact to
presentation showed.
Always tell your audience, you'll take
questions at the end and then do so.
Nothing derails a presentation faster
than stopping to answer questions in the
middle that will probably be explained by
your story.
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