New Metrics Coming To The Facebook Dashboard

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SUMMARY

Hello Everyone! I’m Hernan Vazquez and today I’ll share exciting news about specific metrics that we can create and  put together for our advertising.

Though, it’s not certain when this is going to be released, we'll be able to measure conversion rates, also to measure costs per 100% video views or cost per 25% video views for any branding campaigns from the Facebook Ads Manager.

New Metrics, New Benefits…

#1- Track Funnels Sales

You can create a custom metric within your ads manager.

You calculate the average order value of a specific asset. all you need to do is to add them together. 

Step 1 + Step 2 + Step 3 = Average Order Value

#2- Conversion rates

You can also do conversion rate and conversion rate based on manufacturer's conversion rate for a purchase based on clicks, based on landing page visits, or based on add to cart.

Conversion rates can be in the dashboard.

When it comes to adding to cart, right, what you want to do is to have the amount of add to carts divided by the amount of purchases, and that will give you the conversion rate that you have on that metric. 

#3- Consumption of Ads

To know the consumption of ads you need to do a manual procedure.

Whenever you try to build audiences and markets to them, you need to manually input how much money you spend per adset versus how many 100% video views you got. 

However, with this type of approach, you can import this automatically. 

You can grab the total spend, and divide that by the amount of 100% video views. 

This will be a metric that you can add to your dashboard as well. 

So, I hope you enjoy the good news and that you’re ready to scale your business more and more.

FULL TRANSCRIPT

what's up what's going on everybody have that you guys are great that you guys are doing amazingly well. Today I want to share with you guys something pretty cool that I'm really excited about. Not entirely sure when but it's coming up. It's specific metrics that we can create that we can actually put together that we can make for our advertising.

But first, I wanted to tell you that I still have my perfect ads program at a launch price. Okay, so if you want to write better advertising, for Facebook, and for Instagram and for YouTube and all of that, go to her Nana Vasquez comm slash perfect, that should be a link somewhere around here. I'm going to still hold the launch price, and it's going to be pretty awesome. So with that being said, I want to show you guys something really cool just to understand what's going on in the polls of advertising and all of that, and something that came up, which is coming up to pretty much all of the accounts at some point and we We'll be able to measure conversion rates, we'll be able to measure costs per 100% video views or cost per 25% video views if you're doing any branding campaigns from the Facebook Ads Manager itself. 

So let me actually share my screen I want to share with you guys the tweet that I came across. So there we go. So as you can see, we have this create custom metric window, which is basically allowing us to create a custom metric within our ads manager. So as you can see, here, we have the name for the metric, of course, we have the format. So you know, you should be able to get more formats out of you know, like, alphanumeric or whatever, from the metric, then description if you want to, and then you have a formula, right, which is pretty cool. So let's say that you're tracking full funnel sales, okay? So you have different custom conversions for every one purchase, right? 

Then, if you want to, let's say calculate the average order value of a specific asset, then all you need to do is to add them together, right, you add step one per step two, plus Step three, and that will give you average Your value, you can also do conversion rate and conversion rate based on manufacturer's conversion conversion rate for a purchase based on clicks, based on landing page visits based on Add To Cart. And you can have conversion rates in the dashboard itself. When it comes to let's say, add to cart, right, let's say that you want to have a 30%, add to cart ratio, or 30%, from people that add to cart to purchase, right. 

So in that case, what you want to do is you want to have the amount of add to carts divided by the amount of purchases, and that will give you the conversion rate that you have on that metric. So this is pretty cool. And I'm really excited. And I want to thank Zack stuck right here to actually sharing that, because this is pretty cool. And it's something that I saw today. And you know, it's pretty awesome because you can go ahead and create your own custom metrics depending on what you want to track on the Facebook side of things. 

And for instance, you know, something that I usually do manually is to understand the consumption on my ads, right and my video ads specifically specifically when I'm trying to build audiences and market to them So what happens is that you need to manually input how much money you do spend per ad set versus how many 100% video views you got. And you know, let's say that on some ad, on some ad sets, you're getting 10 cents per 100% video views. And then some other ad says you're getting 50 cents, that is something that you need to input manually. So with this type of approach, what happens is that you can import this automatically, right, so you can grab the adspend, the total spend, and divide that by by the amount of 100% video views. And that will be a metric that you can add to your dashboard. 

So once you have this metric, then you can add this as a column in your dashboard so that you have visibility, you have optics, when it comes to your Facebook dashboard, which is pretty cool, because I'm a big fan of tracking my entire funnel on the Facebook dashboard and then dividing based on you know, based on on on the budget, I divide in Facebook metric versus out of Facebook metrics, that basically means that everything that happens within Facebook and everything that happens outside of Facebook, thanks to the pixel tracking, right so I'd like to By that, and then this will be able to give us more optics on the metrics themselves within Facebook. And then that would also allow us to see what the algorithm sees. Because it's one thing to understand, hey, this is my real average order value, because you go to your clickfunnels account or your order or to your shopping cart, whatever, versus this is what Facebook is understanding my real average order value is, right. 

So if you're optimizing, let's say that you're optimizing an asset for to give you a high the highest ROI as possible, then you want to feed right information back to Facebook, okay, you want to feed the rows back to Facebook accurately, because Facebook algorithm will be making decisions based on the data that you're feeding it back. So that allows us to see what's going on behind the scenes. So this is pretty cool. I'm really excited about this. This is rolling out as well to advertisers. Usually what Facebook does is they roll it out to a couple of people and if everything goes well, they will be rolling it out to a couple of other advertisers and so on and so forth. So we'll see how that goes. And really excited to try that out. Alright guys, so that's basically what I want to share with you guys. 

If you want to learn how to advertise properly if you want to learn how to write great advertising, based on several millions of dollars in advertising spent on 250 plus 300 plus different verticals and whatnot, go ahead and go to Hernan Vazquez comm slash perfect to get a copy of my perfect ads framework, my perfect ads program. It's still on sale into Fourth of July for the next couple of days. I hope that you guys enjoy it. And you know, we're getting a lot of good feedback, so I'm pretty sure you're gonna love it. So thank you guys for joining me today. Have an amazing day. I'll see you guys really really soon. Bye bye

About the Author Hernan Vazquez

Hernan Vazquez is a digital marketing trainer and consultant that built several 7 figure businesses from scratch. He specializes in helping business and students grow their online businesses through the use of Sales Funnels, Paid Advertising and Email Marketing.

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