Having explored Facebook Insights in our blog post last month, we now take a look at the advanced and recently updated Facebook Analytics tool. Facebook Analytics has been designed to mine data from a variety of channels, such as iOS, Android, bots, web and offline sources. A free tool, although designed to work with paid Facebook Ads, Analytics seeks to outline the entire interaction path that customers take with your business.
We have listed some of the valuable features offered by the tool with regard to reaching new audiences and driving conversion.
View Aggregated Demographic Data and Active Users
The demographic data available in Facebook Analytics easily surpasses that offered by Facebook Insights; age, gender, job titles, education levels, languages spoken and page Likes are all aggregated in Analytics. This data can be combined with other variables to great effect, allowing marketers to produce targeted content and advertise with confidence.
In addition to demographic breakdowns, Facebook Analytics provides the most accurate information possible on active user numbers, with daily, weekly and monthly breakdowns offered. Tracking active users over a set period of time is valuable as it measures both customer acquisition and retention.
While older data analysis tools could determine total users across numerous channels, the figures produced would not necessarily reflect the number of unique users. If a customer used a laptop, a desktop and a phone to access your website, they would register as three different users – when using Facebook Analytics, omni-channel data recording allows for more accurate unique user figures. Below is an example of how this channel overlap is displayed.
Use Funnels to Take the Guesswork out of Conversion Figures
For those who don’t know, funnels refer to the way that customers move from awareness of a product or service through to purchase. When using Facebook Analytics, there are a number of breakdowns provided that can help you understand conversion patterns.
By creating a funnel, you can clearly identify which means of online interaction yield the highest conversion rates. For example, you can create a funnel that provides aggregated results on the number of people who commented on a Facebook post on your page before making a purchase. The options for funnels when using Facebook Analytics can be exceptionally detailed, allowing you to form marketing strategies that exploit this data. Given that Analytics supports omni-channel data, you can even use a funnel to find how many users downloaded one of your applications before making a purchase on your website.
Savvy marketers might choose to combine demographic data and conversion rates found by funnel when using Facebook Analytics. For example, if a high percentage of your audience is in a young demographic and you have determined that conversion rates were high among users who have just downloaded one of your apps, future app development could successfully target that particular demographic.
Analytics That Help You Acquire Clients and Retain Them
Strong customer retention is imperative to the long-term success of a business, and Facebook Analytics offers retention reports that help with this aim. Data pertaining to the percentage of customers who return to a business after certain periods of times is offered, as well as data that informs on the success of marketing campaigns or similar. Reports on the number of people who return to your website or content after the unveiling of a new product or service can provide insight into how well it has been received. This information is expressed in a useful graph.
Analytics omni-channel support is also useful in measuring customer retention, as it can help you determine whether customers have completely disassociated with your business, or are instead using different channels to engage with your content.
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Matthew is a Social Media Specialist at Studio Culture.