5 Important Metrics, and How to Optimize for Each
Growing your online course or membership business can be a pain in the ass.
Sometimes it can feel like you’re wasting all your profits on your Facebook Ads?
The key to success on Facebook is optimization.
Here are the 5 most important metrics, and how to optimize for each
Metric 1 – Relevance Score: Relevance score is a ranking of how much Facebook thinks your ad is adding to the experience of its users. Improve your relevance score by ensuring your ad copy and creative match your target audience. Your ad should add value.
Metric 2 – CPM: Is the cost to display your ad to 1,000 Facebook users. CPM is a combination of relevance, audience value, and competition. The narrower your audience, the more expensive your CPM will be. Keep your audiences broad and your messaging valuable.
Metric 3 – Unique Outbound CTR: is the % of people who see your ad and click on the link to visit your landing page. This is a measure of how effective your ad copy and visuals are. Highlight a pain point or goal. Promise them a desirable solution and make a strong CTA.
Metric 4 – On Page Conversion: Your on-page conversion rate will dictate the success of your campaign. Promise a desirable transformation in your headline. Be specific about the expected outcome. Provide evidence to back up your claims and have a compelling CTA.
Metric 5 – Cost Per Lead: Your CPL is a multiple of CPM, Outbound CTR, and On-Page Conversion Rate. Optimize for these three metrics and see your CPL drop.
Metric 6 – Cost Per Acquisition: If you are using a mini-frontend product, your CPA is a multiple of your CPL, and your upsell conversion rate. You’ll get the biggest conversion rate increase by focusing on your offer. How can you make it a no-brainer?