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May 26, 2021

Using Facebook Analytics to Grow Your Business

Facebook analytics helping your business grow

Facebook Analytics helps you track your growth, and tells you who your audience are and how they are interacting with your page.

In marketing, no matter what strategies a company uses, it always boils down to one important question i.e. how will it attract more customers? Everything in marketing revolves around, to one degree or another, this important question. After all, it’s the only tool that brands have to keep themselves relevant as well as ahead of their competitors. Times change, strategies change accordingly, but this one question still lingers.

Facebook was a game-changer for just about every industry. While it was primarily designed for individuals to connect with one another and communicate in a manner that had never been tried out before, it wasn’t long until the brands saw the immense potential in it. In the end, brands see that extraordinary number of users that use Facebook on a daily basis. These users constantly check on their Facebook news feed for more updates, more content, and more information.

This is where the marketers come in. They can act as the perfect conduit between these potential customers and their product/service. What tool do they have at their disposal to accomplish this? Facebook Analytics.

Facebook Analytics is an incredibly powerful platform that is giving giants like Google Analytics a run for their money. It can add likes, expose your product/service to your ideal target audiences, and help you keep an eye on your site traffic.

Here’s how you can use this tool to maximize the results:

Setting it up

In order to use Facebook Analytics, you’ll need a thorough working knowledge of Business Manager. Using Business Manager, navigate to the Measure & Report section and select Analytics. On the right-hand side, select the “Create event, source group”. From there on, you can name your Event Source Group (ESG) as you please. You can also choose the apps, pixels, and pages that you want to use.

Using the dashboard

You’ll see a dashboard in front of your screen when you access Facebook Analytics. It generally includes all the relevant data that you’ll be using such as Growth, Engagement, Monetization, People as well as a sidebar to keep yourself updated on the developments.

The funnels

Funnels will allow you to track the number of customer conversions using the “Sales Funnel” principle. Simply create a funnel and then enter the parameters that you’d like to use when assessing the success or failure of your campaigns using the funnels.

The revenue

The Revenue report is what it’s all about. Click on the “Data range” on the right-hand side and then select the Revenue from there. This will keep you updated on the various demographic aspects of your sales in terms of gender, age as well as city.

Lifetime value

Lifetime value allows you to see how much value your customers are adding to your product/service on an individual basis. It can give you a thorough insight into your customer conversions and help you understand which strategies are the most successful.

Apply It

Once you’ve set up this tool to your satisfaction, you can test it out to see whether it’s delivering the kind of data you want to receive.

Need help with your Facebook Ads? Visit Stealth Agents now!

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