Proven Ways to Use Facebook Analytics Tool to Grow Your Business
Facebook is one of the powerful social media platforms that connect people globally. Nowadays, it is more likely used as a marketing tool to boost the business’s reach.
Facebook also generates valuable analytics that helps marketers to understand the complete journey of users. Recently, Facebook has launched its new analytics tools, but most of the marketers are not aware of this. This helps marketers to improve the result by performing a useful action.
Below are some ways that will help you to get the most out of Facebook analytics to grow your business.
Set Up Facebook Analytics
To make better use of analytics, you need to first set the analytics of your page. For this, you need a working knowledge of Business Manager. Within this, you can find an option “measure and Report,” under which you can select “analytics.”
Instead of this, you can also set up Event Source Group (ESG) and after that, you can choose the apps, pixels, and pages to be included.
Facebook analytics can be presented with the automatically generated dashboard. It generates relevant data like growth, engagement, monetization that provides daily insights.
With the help of a funnel, you can track a customer’s journey. You can select the Funnel option from the left-hand menu and create your funnel of any size.
With this, you will get to know how many people are coming to your website through which sources of Facebook. For example, if people are purchasing from your site by seeing the Facebook comments. Then you can create the three-stage of funnels and see the reports of how much people commented on-site, view the website and make a purchase from your site.
With Facebook Analytics, you can see the revenue report. Revenue is the place where you can see the information about your purchases. For this, you only need to do some simple set up. First, you have to choose the data range and then click in the Revenue option from the menu.
Here you can also see the full graph and reports that will tell you the total value of purchases, purchase events, age, and gender purchases.
Customer Lifetime Value
Facebook creates the customer lifetime value report that is counted as the most powerful report. Lifetime value measures how much a customer is worth for you over the time or the total value attributed to a group of customers based on revenue.
This helps you to find your most valuable customers, who are more likely interested to buy your services. You can select the lifetime value option from the left-hand menu. From here, you can include your users from either “all users” or “paying users”.
Analyzing the ongoing process, give an extensive way to increase your returns on investments. In this way, you will be able to know how much you are closer to achieve your goals and what changes you should make in your existing strategies. So, choose the Facebook analytics tools in the right way to get ample advantage.
Ready to take the next step into your own business marketing?