How To use Facebook Analytics Tool to Grow Your Business

Facebook continues to hold tight as one of the ever-increasing and most popular social media platforms. As marketers, we are constantly hearing about the importance of the online presence of business and customer insights about social media channels.

This is the reason more than  90 million small businesses have a Facebook page. If you are also using Facebook for Business, then you need a strategy to measure how people interact with the content that you are posting. Facebook Analytics will help you to get information to track and measure your results.

While Facebook Analytics is quite valuable, it can be difficult to understand initially. In this article, we will walk you through the steps to use the Facebook Analytics tool.

What is the Use of Facebook Analytics?

Facebook Analytics allows measuring the performance of your page by accessing various metrics such as page views, peak traffic time, user demographics, etc. Also, you can measure the effectiveness of your social media marketing strategy by getting insights on the performance of Facebook Ads and the impact of your page on your business.

How Can You Set Up Facebook Analytics?

Facebook Analytics needs no separate installation. You just need to open your Facebook Business account to access Analytics or you can also open it using the browser.

Alternatively, you can download Facebook Analytics mobile app from Google Play Store and Apple App Store. The application is completely free to download.

When you are accessing Facebook Analytics through your browser –

  • Open Facebook Analytics
  • Click on Hamburger sign on the top right corner of the screen
  • You can find Analytics under “Measure & Report” section

(Source:https://wp-en.oberlo.com/wp-content/uploads/2018/07/analytics-menu.jpg)

It is Facebook Business Manager that will help you to run ads on Facebook and Instagram. You can also create target groups for your ads using Business Manager.

How To Use Facebook Analytics?

Facebook Analytics is much similar to Google Analytics. The tool is very easy to use and gives you Facebook page insights for your business. You can use this information to shape your marketing strategy.

There are various stats that you can access using Facebook Analytics. You can also personalize your data and Facebook Analytics Interface.

Facebook Analytics Dashboard

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When you login into Facebook Analytics, you will be presented with a dashboard that has the most relevant data including Highlights, Audience growth, User Engagement, Monetization, and Active users.

There are a variety of reports that can be generated using Analytics. We will walk you through some of the most important ones

#1. Funnels

(Source:https://www.socialmediaexaminer.com/wp-content/uploads/2019/08/facebook-analytics-funnel-how-to-step-2-800.png)

Funnels are made of steps that you will want to measure in Facebook marketing campaigns. You can create funnels to measure conversion and see how long it takes to convert potential customers into clients.

You can create it by using Funnels from the left-hand menu. A three-stage funnel can be created to measure conversions.

#2. Revenue

(Source:https://www.socialmediaexaminer.com/wp-content/uploads/2017/08/bw-facebook-analytics-activity-revenue.png)

In the Facebook analytics dashboard, you can create a revenue option. This report will give you useful insights into the number of purchasers during a particular period of time. These purchasers are also divided on the basis of age and gender.

#3. Customer Lifetime Value

(Source:https://www.rightmixmarketing.com/wp-content/uploads/2019/10/Customer-lifetime-value.jpg)

This report is quite essential and will let your business know the worth of a customer over a period of time. You can measure how much money is spent on acquiring new customers and the extra revenue you get from existing customers.

You just need to select Lifetime value from the left panel and then select if you want to generate metrics for all users or just the paying users.

Strategies for Effective Use of Facebook Analytics

Once you get all the metrics, it is also important to process them and apply the same for future Facebook marketing decisions. Here are some of the tips that can help you to create an effective strategy –

#1. Focus on your Target Audience

Audience Insights under the Facebook Analytics tool will give you a detailed description of the users. You can target the users who engage with your page the most.

In the Actions on-page section, you can get a list of people who clicked on any call-to-action button with break down on the basis of age, gender, city, or country.

#2. Focus on What Works for You

You can find metrics that will give you detailed information on the content that performed the most. This will help you to create more such posts.

Not only this, but you can also get insights on the post that trigger negative engagement, like reporting spam or hiding posts/stories from your page.

#3. Find the Best Time to Post

Once you get complete information on your audience demographics, you can schedule your posts accordingly. This is the time when most of your audience is online. This gets you maximum engagement.

Final Word

Using the Facebook Analytics tool correctly will help you to gain a competitive edge in the market and you can differentiate yourself on this platform. This helps you to create content that users love and get you maximum engagement.

Also, don’t forget to let us know how it is going with Facebook Analytics in the comment section below. Also, ask your queries related to this tool.

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