HubFirms : Blog -Analyze Facebook Ad Funnel Using Google Analytics and Facebook
HubFirms : Blog -Analyze Facebook Ad Funnel Using Google Analytics and Facebook
It is really difficult to know which of the Facebook ads produce customers and revenue? Often, Facebook tells you different things from that of Google Analytics.
Let's learn to use Facebook and Google Analytics together to reveal how Facebook customers can be engaged with your funnel on their path to purchase.
Let's get started with some basic tracking fundamentals.
How Attribution Credit Is Applied to Conversions?
There are two types of attribution events:
· A view attribution:
It assigns credit for conversion when someone takes action after viewing your ad.
· A click attribution :
It assigns credit for conversion when someone takes action after clicking your ad.
The time duration between a view or click event and conversion for the ad to receive credit for the conversion is called the attribution window.
The standard attribution window for Facebook is 28 days, and 30 days for Google for clicking an ad. It means that anyone who purchases within 28 days of clicking an ad will be marked as a conversion for that ad.
The standard attribution window for a view is 1 day. If anyone converts within 24 hours of seeing an ad then the conversion will be attributed to the ad. But, If it happens after 2+ days since seeing the ad, then conversion won’t be attributed to that ad.
On the contrary, if a person sees one ad and clicks on another ad within 1 day, then the ad that drove the click will get attributed the conversion.
Facebook Attribution logs the conversion the day it occurred. and Facebook Ads Manager logs the conversion on the day the customer interacted with the ad.
For example, if someone clicked on an ad on the 5th day of the month but made a purchase on 20th day, Ads Manager would record the conversion on the 5th while Facebook Attribution would record the conversion on the 20th.
Now, understand, how Facebook Analytics, Facebook Attribution, and Google Analytics track attribution and conversions.
Facebook Analytics Reports
Facebook Analytics does segmentation of customers, leveraging the Facebook pixel and social engagement data from your social media channels. This customer segmentation gives a lot of insight about potential customers and their conversion tendency.
This tool helps to understand the traffic, and the steps customers take on a website to get to the conversion goal such as a purchase, lead, download, and so on.
Have a look at the main reasons to use Facebook Analytics:
· It lets you understand the customer's journey through your website.
· See the cross-device behaviour of conversions.
· See the time delay and duration between conversion or repeat purchases.
· Track social media engagements to conversion.
· See delayed conversions from prospecting campaigns.
For Facebook Analytics, you should have enough data. Too little data won’t be significant enough to give you valuable insight. Aim for 30+ days or 100+ conversions.
1: Understand the Time Customers Spend in Each Stage of Your Funnel
In Facebook Analytics, funnels can be build to understand the customer and the checkout journey. To create a funnel, first, go to the Funnels section under Activity in the left navigation. Then click 'Create Funnel' on the right.
Now track your checkout flow from page view to purchase. People enter into the funnel by viewing page. Then they view content, add something to their cart, and finally check out.
On average, customers take 3.7 days to complete the funnel. The average time spent at each stage of the funnel can be viewed at the bottom of the funnel results. This analytics data can be used to set bid optimization to either 1-day or 7-day click.
To check the delay between purchases, set the funnel to “purchase then purchase.”
2: Analyze Top-of-Funnel Lead Conversions by Campaign
In Facebook Analytics, the result of a top-of-funnel campaign like a lead magnet, giveaway, or quiz can be tracked. This gives you an understanding if the people who download the lead magnet, enter the giveaway, or complete the quiz turn into customers further down the line.
Go to the Revenue section in Facebook Analytics to see whether the traffic from the lead magnet, giveaway, or quiz turned into revenue.
Next, add filters to see how the revenue shown here was generated. At the top of the page, click Add Filter and select Create New Filter from the drop-down menu. You’ll get a variety of filters to choose from.
3: Identify Your Most Valuable Customers
Now let's learn how to use Facebook Analytics to find the most valuable customers and how to use that information in Facebook ad buying strategies.
Firstly, open the Percentiles tab in Facebook Analytics. This will show the highest-value people in your entire audience.
Scrolling down to the Purchases graph will show what the top 25% of your customers are spending. After having this information, go to your Audiences dashboard and create two custom audiences from website traffic:
Top 25% LTV (lifetime value) or AOV (average order value) users
Top 25% page view or view content users
After creating these custom audiences, select the purchase event and choose a time period.
Then click Refine By to refine this purchase event. From the three drop-down menus, choose Sum Of > Value > Is Greater Than (>) and enter the $ amount.
Now, after creating custom audiences of the most valuable customers, create lookalike audiences based on them.
For this, choose the country you’re targeting, click Create Audience to create your lookalikes. Now they can be used in ad campaigns.
Facebook Attribution Reports:
The Facebook Attribution tool is used to compare attribution model types and conversion attribution windows. The best thing about using this tool is, It brings all traffic channels into one dashboard so you can interact among all channels together. It helps in segmenting traffic sources and looking at the different types of attribution.
Here are the main reasons to use the Facebook Attribution tool:
· You can see the full customer journey tracking past the 28-day click.
· Do multi-attribution, - channel, and -source comparisons.
· It gives equal value to the first and last touchpoint of your funnel.
· It looks at the customer journey through Facebook campaigns.
· Measure conversion performance and impact cross-channel
4: Track the Customer Journey Across Devices
To access the data of the customers who are using desktop and mobile devices to purchase the products, navigate to the Attribution tool.
It reveals 3 categories of people:
· Customers who are engaged with both desktop and mobile.
· People who check out on mobile
· People who are checking out on the desktop.
Now, you can have clear stats for your business. People may either find out your brand on mobile and checking out on mobile, or they’re finding out your brand on mobile and then checking out on desktop.
Either way, you make sure that your website is optimized for mobile.
5: Compare Multiple Attribution Models to Reveal Profitable Revenue Sources
Facebook Attribution tool is used to compare different attribution models. Here’s how to do that.
In the top right of the Attribution tool dashboard, select the conversion you want to measure and the date range you want to see.
Click the currently selected attribution model below the date. It opens a window to change models and attribution windows so you can compare them.
From here, choose the attribution window that best suits your business. Remember, the more expensive the product, the longer the window should be.
Start by selecting the Last Click or Visit model. On the right side of the window, you can check total conversions and what percentage of those conversions are attributed to paid, organic, and direct.
Click Apply in the lower-right corner of the window after selecting the attribution model and window.
Both first- and last-touch attribution is equally important to give both of those credit to understand the real impact of paid advertising on introducing new people to brand for filling the top of the funnel.
Only last-touch attribution can't be able to grow a brand because it will always be telling you to spend more on your remarketing or your organic just because they’re the last touchpoint that people have.
The Positional 40% attribution model shows the true ROI for top-of-funnel campaigns and traffic sources.
Google Analytics Reports:
Google Analytics gives you a general idea of a brand's activity. It gives a lot of information about website visitors. Ecommerce Tracking can give even more out of it.
Google Analytics is great to use because:
· Get deeper website metrics (time on site, product data, more filtering options).
· Improves a website's conversion rate by fixing things.
· Checks eCommerce breakdowns and checkout flows.
· Checks referral traffic sources and their quality.
· Compare attribution models by cross-checking Facebook and Google stats.
· Google Analytics and Ecommerce Tracking give valuable information about the customers in 30 days.
6: See Which Audience Segments Convert Best
In Ecommerce Tracking set up - go to Audiences > Demographics > Gender to see the conversion ratio of males to females.
If you want to find data about the different age ranges of your traffic- go to Audiences > Demographics > Age. You will identify the age ranges you should focus on.
Next, go to Audiences > Geo > Location and click on India to see which places have the highest conversion rates.
Under Audiences > Technology and Audiences > Mobile, it will give data about which devices (mobile, desktop, and tablet) and browsers (Chrome, Safari, Firefox, etc.) are used by the audience.
7: Analyze Conversions by Traffic Source and Campaign
To evaluate the quality of traffic sources and campaigns to determine the areas need to focus efforts- go to Acquisition > All Traffic > Source/Medium. The traffic you see in this report is tracked with UTM tags. Anything that isn’t tracked usually shows as direct/none.
It will give the bounce rates for different sources. Check if there are any pages or sources that have low bounce rates?
The reason may be a slow page load or maybe the page doesn’t contain the relevant information for the customers. It gives you a chance to fix the pages.
Next, look at the length of time people spend on your site. Typically, the quality of traffic is higher if people spend more time on the page and look at multiple pages.
After going through all traffic sources and determining the best ones, change the Secondary Dimension to Campaign to break down the information even further.
Now review each traffic source broken down by campaign. This can help you identify campaigns that are converting well and campaigns that aren’t converting well, so you know where you should be spending money.
8: Compare Conversion Attribution by First and Last Touch
The Google Analytics attribution comparison helps you to determine which traffic channels are generating new customers.
It’s important to understand how attribution affects the way purchase value is assigned to different traffic sources. In Google Analytics use a first-interaction attribution model, not last-touch interaction.
To view data - go to Conversions > Attribution > Model Comparison Tool.
Make sure you’re only tracking the transactions.
Google Analytics uses similar attribution models as Facebook. Comparing first interaction to last interaction is a good way to see what’s bringing in the traffic and what’s converting the traffic.
Adding Campaign as a secondary dimension can help you understand your prospecting campaigns.
The biggest issue that businesses face is the lack of understanding of - Which ads, channels, and campaigns are responsible for the conversions, new customers, and revenue? Where should you invest to grow your business?
Most online stores are still looking only at the last-touch attribution model, which credits the last ad or traffic source the customer clicked or viewed before converting.
Deep knowledge about Facebook Analytics, Facebook Attribution, and Google Analytics can give a better understanding of the customer's journey to enable you to run better, more profitable marketing campaigns for your business.
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