If you are a new jewelry brand that wants to reach 18 - 24 year-old females living in Los Angeles (where you can provide free shipping), then your performance metrics will focus on:
Reach: the number of unique people you reach throughout your campaign
Impressions: the number of times your ad is viewed by a user
Frequency: the average number of times a user sees your ad
Cost per 1,000 impressions (CPM): the amount you pay for every 1,000 impressions delivered
Ideally, you should plan these metrics before starting the campaign to be able to compare and evaluate whether or not you accomplished the marketing objectives. When you are just starting out this might be a little bit tricky and you can use the industry benchmarks as a comparison base. But moving forward, use your historical data to plan your metrics.
For awareness campaigns, you are looking to reach as many people as possible at the cheapest possible rate (CPM). When building the campaign, Facebook will give you an estimated audience size which is critical when comparing what percentage of this audience your campaign was able to reach.
How to Evaluate the Performance
of Your Facebook Ads
By Gayane Virabian
F
Facebook has one of the most
sophisticated advertising
platforms with ad solutions
for all businesses, big and small. However, advertising is only effective when you can track and measure its results. To evaluate the performance of your Facebook ads you need to know which metrics to track and how to read those metrics.
Awareness Metrics
60 FACEBOOK | EVALUATING ADS