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Facebook Marketing: Is Facebook Analytics Free?

It is important to monitor metrics and analyze the performance of your social media posts in order to formulate a successful social media strategy. With 2.93 billion monthly active users, Facebook is the largest social network, and it is often the site brands turn to first.

There is no shortage of Facebook analytics tools available to help maximize its potential. Since most brands have multiple social media accounts, some of these solutions offer analytics for multiple social channels. This list includes a number of tools that cover more than just Facebook, so you may find them useful across a variety of social media platforms.

What Exactly is “Facebook Analytics”?

Facebook Analytics is the new social media reporting tool that offers a complete picture of how users interact with your Facebook pages, pixels, and apps.

As an example, you can see how audiences on your Facebook page and Facebook pixel overlap or connect. This allows you to see how your Facebook audiences interact with your website as well as how your website audiences interact with your Facebook Page. This is due to the fact that Facebook Pixel is a core component of Facebook Analytics.

Marketers can easily track the results of organic and paid ads across multiple devices and sessions using Facebook Analytics. This tool makes monitoring and reporting very easy, allowing you to improve your Facebook marketing campaigns as time goes on.

Insights vs. Analytics on Facebook

You may be familiar with Facebook Insights, which provides you with a report on the performance of your Facebook Page in terms of engagement and demographics of your audience. Despite the fact that Facebook Insights and Facebook Analytics are both analytics tools, they are completely different from one another.

The Facebook Insights feature is specific to your Facebook page and is located within your Facebook Page, while the Facebook Analytics feature is primarily for paid ads and is located within your Facebook advertising account. Facebook Analytics collects micro-level data from your Facebook Page and Facebook Pixel to provide you with a detailed picture of how people interact with your page and website over time.

By using this method, you can see, for example, how many people commented on your Facebook post, viewed your landing page, and made a purchase after viewing it. Facebook Insights, on the other hand, is concerned with the reach of your Facebook Page, the performance of your posts, and other micro-level statistics specific to your Facebook Page.

Facebook Analytics: How to Use It

Setting up Analytics is the most challenging part of using it for most marketers. No worries, we will walk you through the process step-by-step, and you will be a pro by the end of this guide. Business Manager is already an advantage if you are already using it.

It is important to note that you must install the Facebook Pixel in order for your Analytics dashboard to function properly. You can see who visits your website as a result of interacting with your Facebook content using the Facebook Pixel. Using this tool, you will be able to see how your Facebook ads drive visitors to your website as well as what those visitors do once, they reach your site. As a result of this information, you are able to measure the engagement of your visitors.

A comparison can also be made between the number of leads you receive and the cost of the ads for that page, so you are aware of how much it costs you to acquire a lead. As a result, you will be able to track which call-to-action buttons are most popular with your visitors, so that you may make better use of them in the future.

You will also be able to view the activity of your shopping cart using the Pixel. What percentage of people leave items in their carts or complete the purchase process? The Facebook Pixel can be found in Ads Manager by clicking on “Pixels”. You are guided through each step of the installation process by Facebook.  Once the Pixel has been installed, allow it to run. As a result, your dashboard will be populated with analytics data. Your dashboard will display the number of new users, unique users, and your retention rate, ie. the percentage of new users who return to your site.

The Growth Metrics section shows you the number of active users you have had in the last 24 hours as well as your best traffic sources. The next step after creating your Pixel is to customize your Event Source Group (ESG). In this way, you will be able to view analytics for all of your assets (Pages, websites, and apps).

Using Facebook Analytics Data for Marketing

It is useless to collect data if you do not make use of it. You will only be able to gain real value from Facebook Analytics if you utilize the data you generate in order to make informed business decisions. It is the beauty of data that allows you to see what is working and how to maintain it. Furthermore, it provides information on what is not working and how to resolve it.

It is possible that your Facebook ad campaign will not yield the results you were hoping for. Analytics allows you to determine why this is the case and what can be done to improve the ad campaign. Additionally, analytics can be used to retarget people who were not convinced to become customers the first time around.

By addressing the issues that prevented them from becoming customers, you can then retarget them with another campaign. Additionally, you will be able to determine which assets are most effective. The majority of people may convert after contacting you on Facebook and receiving a response. Using Messenger chatbots, you can then automatically engage people who like your page. Marketing data is a marketer’s gold mine and can make the difference between a successful and unsuccessful brand.

Conclusion

Facebook offers a wide range of opportunities for improving your performance. It is important to select the right tool for your brand in order to meet the needs of your team and help you streamline your marketing efforts.

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