I’m excited because Facebook has launched its Analytic tool for advertisers and marketers. I’m not the only marketer who is super-delighted, everyone is talking about the Facebook’s analytics because it is truly a life-saver.
I’m glad that I don’t have to rely solely on Google Analytics to measure and track traffic from Facebook.
It is a powerful tool that is made for businesses to help them improve conversions, sales, and revenue. It offers you insights to your audience and lets you measure engagement, reach, impressions, likes, consumption, and growth across all the available channels including mobile, website, and apps.
Last week in F8, Facebook announced that it has included pages and automated insights to its analytics. The new features that are currently in the beta include:
- Analytics for Facebook Pages and in-store sales
- Facebook Pixel analytics help you track traffic on your website including conversions and sales.
- Automated insights powered by artificial intelligence
- Custom dashboards that allow you to create customized dashboards with similar reports
Sounds interesting, right?
What does these features mean to your business? How Facebook analytics can help you with your business?
Here is an overview of the practical business applications of Facebook analytics and how it can help your business.
Table of Contents
Analytics combines data from all the available sources including web, mobile, messenger, app, page, and others.
This lets you optimize customer journey across multiple funnels. For instance, most of the users who liked Post A purchased Product C, and fans who didn’t like the post purchased Product E, you can optimize your sales funnel based on these behaviors to increase sales by offering customized products.
Customer behavior analysis
Customer and user behavior analysis become a piece of cake with Facebook’s deep analytics that let you measure every event, demographics, and user journey. Automated Insights is one of the new features added to analytics that generates reports on autopilot using artificial intelligence.
With automated reports, you don’t have to figure out anymore as to what types of reports to generate to measure user engagement across different geographical locations. This is something that analytics will do automatically for you.
It allows you to create different segments of your audience based on your preferred variables such as age, gender, location, device, engagement, clicks, traffic sources, and so on.
Segmentation helps you understand how different people respond to your business and products.
How to better use Facebook Analytics
The graphs, charts, and detailed reports are potentially worthless if you’re not using them the right way. Every business has access to these reports, the difference is how you use them.
Here are a few options to help you get started.
- Use data to improve targeting. If audience from a specific target market doesn’t respond well to a product, don’t waste money on pitching them the same product.
- Merge analytics from Facebook and Google to take your business to another level. Not just the analytics but you can create new goals in Google analytics, create new segments, and use UTM parameters to see where traffic is coming from.
- Create Facebook ad campaigns based on the behavior and response of your fans and web traffic to increase EPC and ROI.
Facebook analytics isn’t just for ecommerce stores and apps instead it is for all the businesses including Facebook pages, bloggers, and webmasters. Anyone and everyone who has a web presence can and should use Facebook analytics.
You can see a demo here that will show you how powerful it is.
Facebook has over 4 million advertisers from all parts of the world, you cannot rise above unless you make the best and smart use of the data available to you and your team.
The way how you use Facebook analytics can prove to be a game changer.