Question

Topic: Research/Metrics

Need Clear Standards To Judge Facebook Metrics

Posted by amandah on 5/7/2021 at 8:53 AM ET 250 Points
So, I have a dilemma. I am running Facebook ads for the small business I work for. The owner doesn't want to invest much money into advertising until he sees "proof" that it works from some smaller campaigns. I am trying to help him lower his expectations for results because at this point he is expecting the "success" of a video campaign to look like 75% of the audience watching our 3-minute video for at least 2 1/2 minutes. As I have been looking for an average watch time for Facebook videos or a specific metric for how I will judge the campaign's success, I've found several different answers. One article says you can expect half your audience to drop off between the 3 - 10 second mark, someone else says the drop off really happens after 10 seconds, then another report I read says somewhere around half of the people watching a 1 minute video will be there until the end. This issue doesn't just apply to videos though. All Facebook ad metrics are this way. I can find a million articles telling me what CTR, CPC and CPA, etc mean, but NO ONE agrees on what the standards for judging success are. One person will say a good CTR is 1.5% then another will say you should expect nothing less than 3% and so on and so on. So, I have no way of showing my boss that I have done my job well or even knowing IF I did it well.

Does anyone know of a reliable source that I can go to for clear (emphasis on clear) and direct Facebook/Instagram/etc social media metrics standards? I understand they may change year to year, but I have to have something that doesn't change with the wind and contradict every other source out there.

Thank you,
Amanda Hurd
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RESPONSES

  • Posted by mgoodman on 5/7/2021 at 9:11 AM Moderator
    The problem with the statistics you're seeking is that they don't necessarily translate into "success." Success depends on your objective, your industry, your primary target audience and the specific copy and offer you are measuring.

    One business might be happy to get 1.0% CTR while another wouldn't be satisfied unless it saw 3.0% (or more). And if you look at an average across 1000 advertisers, there is no way you can apply that average to your situation.

    Your best bet might be to determine the metrics at which your campaign would break even financially (or meet a target ROI), and let that be your standard. You can even develop a simple table that would let management see the various combinations of results that could lead to "success."
  • Posted by amandah on 5/7/2021 at 2:49 PM Author
    I do understand that every industry is different and businesses can have different goals. Though I am looking for an average for the industry plus an average for the people who do really "well" in that industry for the same type of campaign. We are trying to create "brand awareness", which takes time, but my boss wants lengthy video views or a good amount of time spent reading our articles. We had around a 3% CTR on the last campaign, so people were clicking & going to our site, but they didn't stay there very long when they got there. So, I don't know if CTR is the best way to judge our success. Reach doesn't seem like a good option either. We want people to be aware of who we are by interacting with our posted content. So, I don't know how to measure those in a reasonable way & not get frustrated by "goals" that can't be met.
  • Posted by mgoodman on 5/7/2021 at 7:34 PM Moderator
    Regarding the use of averages, here are just a few examples of comments from the MarketingProfs archives:

    1. A man may have six meals one day and none the next, making an average of three meals per day, but that is not a good way to live.

    2. I am reminded of the researcher who found the Average Australian has one testicle. This is apparently because roughly half of all Australians have none, while roughly the other half have two, you see.

    So what does that tell us about the Average Australian? Not a lot, except perhaps that a man who has suffered the loss of a testicle in a croc-hunting accident, or when attacked during surfing by a Great White, is on one measure alone, still pretty average.
  • Posted by mgoodman on 5/7/2021 at 7:40 PM Moderator
    What your experience might suggest is that you need to test alternative/shorter copy. See what happens to your metrics when you have a :20- or :30-second video or static copy ... or a compelling large image with a brief headline, etc.

    Maybe your target audience doesn't find what you're showing them now to be interesting enough to stick around and watch the whole thing.
  • Posted by Jay Hamilton-Roth on 5/8/2021 at 8:31 AM Member
    Success shouldn't be about measuring the length of time someone watches your video (for example, if your video is great, then it'll inspire action before the end of the video is reached). Better to measure ROI - what did watching the video/ad do to help your business' bottom line. Also, ensure you have a sense of what your LTV for a customers is, since the ROI may be measured not as an initial sale but as acquisition for a lifetime of sales.
  • Posted by amandah on 5/12/2021 at 9:20 AM Author
    Thank you for your responses. However, these did not help me figure out what my next step is. Being in the hearth industry complicates things. So, I understand that what may make sense for other industries doesn't make sense for us. Thanks again. I'll keep looking.
  • Posted by mgoodman on 5/12/2021 at 7:22 PM Moderator
    FWIW, solid marketing strategy applies to all industries and product categories. Marketing is about meeting (or exceeding) the needs of your target audience. If you have already taken the initial steps to crafting your strategy, share those with us and we will do our best to address your question(s) about the next step.

    Don't give up on us so quickly. The most helpful responses often come after an exchange of questions and answers -- just like a live in-person consulting engagement.
  • Posted by Shelley Ryan on 5/17/2021 at 5:07 PM Moderator
    Closing this question at the poster's request. Thanks for participating, everyone!
  • Posted by Shelley Ryan on 5/17/2021 at 5:07 PM Moderator
    Closing this question at the poster's request. Thanks for participating, everyone!
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