Part 3: Measuring your Facebook Page’s effectiveness
This is the last part of my series on creating a successful Facebook Page, where I intend to share some thoughts on how to best measure the effectiveness of all your hard work.
In my first post, I covered a few key points on what a Facebook Page is and the things you need to consider before launching your Facebook Page.
In my second post, I explored techniques for creating sticky content and tips on growing a community.
Measurement is always about business objectives
When it comes to measurement, don’t get caught up in the numbers Facebook can spit out. While these are important, your ultimate goals should be focused on your business objectives.
Of course, there are a multitude of business objectives you may be trying to achieve with your Facebook efforts, but the 3 common ones are brand awareness, brand engagement and action towards sales conversion. Below are details on how you can measure against these business objectives.
Facebook Measurement Funnel
Facebook is an ideal platform for growing you brand awareness. There are 2 ROI components you should consider when measuring your awareness building activity:
- Facebook ads – As I outlined in my last post, Facebook advertising is an effective way of building awareness of your business and brand to a highly refined audience. Instead of creating one ad for all your audiences, create highly targeted advertisements for many small target audiences. Compare their effectiveness, and tailor your messages to what is driving the most interaction. Use the impression numbers for all advertisements to understand the reach your advertisements are generating.
- Impressions – When you make a Facebook status update, not all of your audience will see the message. The reality is that it will likely be between five percent to 16 percent or lower. When you are logged in as an admin of your page, you will be able to see how many people have seen each post. Take note of those posts that have been most effective, and adjust your content accordingly. You may even consider supporting the content by making it a promoted post (a form of Facebook advertising) for status updates that have been important to reach a greater portion of your Facebook Page audience.
As I have mentioned in previous posts, driving engagement on your Facebook Page is an effective way of ensuring your messages are seen by as many people as possible.
The Facebook Talking About score is the primary way of measuring engagement on your Facebook Page. The Talking About score measures all interactions on your page, from a simple like, to a comment, a wall post or the ultimate engagement – sharing your content.
Monitor your Talking About score. As a guide, the vast majority of Facebook Pages have talking about rates that are under five percent. While your goal should be to always increase this number, Facebook is making it increasingly difficult to secure a high score without paid support.
Similar to the the traditional sales funnel, conversion is the ultimate goal. The same goes for Facebook. A conversion in Facebook can be done in different ways. It might be a click-through to your website, a click-through to a reseller, a sign up to your database or entry to a competition and promotion.
You need to measure where the traffic is coming from at the point of conversion. Compare your Facebook traffic against other traffic-driving activities you may be undertaking.
How do your Facebook efforts compare? Are they more cost effective than other methods of driving conversion? Also, compare your individual Facebook efforts. What type of content drives the most conversions, and what time of day it is most effective? Are you better off using your Facebook advertising to direct users to a conversion point, or should you attempt to engage potential customers on your Facebook Page first?
Facebook Pages can be a highly effective way to drive success for your business, but as I have stated previously, it requires trial and error. You will not likely get it right the first time, but if you measure your activity effectively you will be able to identify how to constantly improve your efforts.
I would love to hear from you on your activity in Facebook and any feedback you have on these tips.