Metrics an Advanced Media Buyer will Track on Meta

We hear you: You’re tired of only focusing on Return on Ad Spend (ROAS) when managing your ads on Meta. Focusing on solely ROAS can stunt your growth on Meta and in paid advertising in general. We liken it to driving a car with blinders on - you're missing out on other crucial metrics that can supercharge your ad performance. Close your eyes and imagine this:

You're a pilot flying a plane. ROAS is like your altitude - important, but not the only thing that matters. You also need to consider your speed, fuel efficiency, and engine health to ensure a smooth and successful flight.

But ROAS is the ultimate metric for measuring ad success, right?

Wrong! While ROAS is important, it doesn't give you the full picture. Within the Meta ads platform, cost per purchase, click to purchase rate, and conversion rate are equally crucial in optimizing your ad campaigns for maximum results.

By diversifying your focus to include these metrics, you can identify areas of improvement and fine-tune your ads for better performance. Think of it as having multiple instruments on your dashboard to monitor and adjust your flight path in real-time.

When looking at marketing performance holistically, metrics like Marketing Efficiency Ratio (MER) has become increasingly important. Measuring holistic marketing efforts that are multi-channel and have their own spend investments allows you to get an even bigger picture of performance and growth opportunities as a brand. MER is calculated by taking your total revenue divided by total ad spend within the same time period. Although this doesn’t give you specific notes of how to make in-platform optimizations, it helps guide larger picture decisions such as channel spend investment or understanding how products or seasonality could be shaping overall performance during periods of scale.

Isn't it more complicated to track and analyze all these different metrics?

With the right tools and strategy in place, you can easily track and analyze cost per purchase, click to purchase rate, and conversion rate alongside ROAS to get a comprehensive view of your ad performance. Some of these metrics can be easily populated within Meta’s metrics columns or created custom within the platform for measurement.

MER can be calculated separately, while accounting for holistic revenue and spend in a separate performance report or document. Manually calculating this metric is an option, but there are automated reporting systems that can easily integrate into your regular reporting.

By leveraging these additional metrics, you can uncover hidden opportunities, optimize your ad spend more effectively, and ultimately increase your overall ROI.

Don't limit yourself to just one metric when managing ads on Meta. Embrace the power of cost per purchase, click to purchase rate, conversion rate, and MER to optimize your campaigns for peak performance. Want to achieve sky-high results? BlueSwitch’s expert team of media buyers is the co-pilot you need achieve your growth goals in 2024 and beyond.

Contact us to schedule a discovery call today.