Marketers can’t execute unless we know where we are going, what the objectives are, and how success is measured. You either need to set Key Performance Indicators (KPIs) yourself, or get your boss to do it. Simple as that.
I want to share 5 ways to use Facebook advertising for any organization (where we’re going), as well as give specific examples of KPIs for each category (objectives & measurement of success).
KPIs for Branding
Branding is an investment into the future. As Marty Weintraub, CEO of aimClear, puts it: today’s branding is tomorrow’s conversion. Some examples of KPIs:
- Use Facebook ads to garner 2 million impressions of our new laptop line across a period of 3 months, with CPM (cost per 1000 impressions) under $0.15
- Raise new product awareness by 300%, as measured by website traffic or Google Insight
KPIs for Direct Response
Direct response, such as a sale, a sign up, or a download, satisfies the instant-gratification seeking part of every marketer. It’s important to keep in mind that most Facebook users are not in buying-mode, unlike users searching on Google. This means direct sales generally do not perform as well (there are always exceptions). On Facebook, it’s much more effective to focus on adding value through a sign up or a free download first. Some examples of KPIs:
- Sell 1,000 units of crazy-gadget to customers based in Canada, while keeping cost per conversion below $50
- Get 5,000 downloads of the free annual report on real-estate trends in the United States in 2012
KPIs for Making Friends
Facebook was built on the foundation of creating connections and making friends. In the case of a business, getting fans (aka: friends) provides a channel for repeated engagement in the future. Some examples of KPIs:
- Get 300,000 people in the UK & US market, who are between the age of 18-35, to LIKE the Facebook fan page
- Have 10,000 people play the interactive game via Facebook app
KPIs for Customer Service
People are talking about your company via social media regardless of whether you participate or not. However, by participating you can change sentiment and create goodwill, by providing great customer service. Some examples of KPIs:
- Drive traffic via Facebook ads to Twitter live customer support, increase Twitter followers by 20%, and decrease phone support time by 10%
- Target Facebook users who are interested in customizing cars, and offer a free branded DIY guide
KPIs for Crisis Management
We never know when a crisis will strike. With the targeting function in Facebook ads, companies can identify and directly reach out to those people affected by the crisis, and offer information or assistance. Some examples of KPIs:
- Target customers in Seattle and Lynnwood who might have purchased tainted sausages, and receive clicks to the information page from 10% of the total population in those areas
- Collect 1,000 phone numbers from customers in the affected region to send out SMS alerts
Above are just some of the ways Facebook advertising can be used to achieve our organization goals.