Facebook is currently in the process of unveiling changes to the Facebook advertising analytics tool, allowing some users to see new data on ad reach, average frequency as well as target funnel statistics.
Basically, Facebook’s new offerings will improve the ability to track performance indicators aimed around social actions rather than CPM (cost per thousand impressions).
The changes, which we think are way overdue, represent big changes in strategy and should effect online marketing across the board. Performance indicators, more specifically Social Performance indicators, will help advertisers track and optimize for better performance and ROI. The new stats will help those advertisers see metrics beyond the basic, clicks and views.
The main components (roughly 4) include:
‘Reach’, allows advertisers to see the number of individual accounts who’ve seen (been exposed to) the ad.
‘Frequency’, gives advertisers the ability to track the number of times an account has seen the ad.
‘Social Reach’ refers to the number of accounts who’ve seen the ad in social context.
‘Connections’ lets you know what social actions were taken by those viewing the ad (Page Likes, RSVPs, App Installs, etc)
As Facebook Ads users, we have been waiting (as many others have as well) to see an expanded feature set within the ad platform. These updates begin to give us (and all) some hope that we will be able to improve the effectiveness of our campaigns after utilizing these metrics to make optimizations.