Category: Strategies

To measure ad performance, you need to keep track of important metrics relevant to your business. Since data varies among companies, there is no one-size-fits-all tool to monitor ad performances on social media, particularly on Facebook.

For those who are more familiar with using Excel or Spreadsheet in creating reports, it is almost similar to when using Facebook Ads Reporting. But it looks more organized since it has included the essential elements to record and track your business’s Facebook ads data.

If you are working on better monitoring your social media ads, using a Facebook ad reporting template, or creating custom metrics, you should learn more.

Steps to Create Custom Metrics in Facebook Ads Reporting

It is easy to create custom metrics on Facebook for ad reporting since the necessary information you may need for your business is already available there.

Step 1: Open Facebook Ads Manager. You can select it on the navigation menu on your Business Manager.

Step 2: Look for the “Columns Performance” drop-down button on the right side of the page and click it.

Step 3: From the drop-down menu, look for the “Customize Columns” and click it. You will then see a window open.

Step 4: From the new window, click the “Create Custom Metric” located on the right side of the search bar. Then, a new window will prompt.

Step 5: You will now see where you can create custom metrics on your screen. All the essential elements for the metrics are there. Think of a descriptive name for the new metric you want to make.

Step 6: Choose a metrics format depending on the type of metric you want to create. For example, you can choose currency if the average order value is the custom metric you want to add.

Step 7: There is also an optional box there where you can add a description to the custom metric. Feel free to type it down if you want. If you cannot think of a good idea to describe the metric, you can skip it and move forward to the next step.

Step 8: On the next row, there are elements where you can specify how you can calculate the custom metric you want to create. Later on, you will get to know the formula you can use on the specific custom metric.

Step 9: You can also set who can see the custom metrics. You can set it to “Only You” or anyone else you want to share access to in your Facebook Business Manager.

Step 10: After putting all the relevant information when creating a custom metric, check each of them first before clicking the “Create Metric” button. In this way, you can ensure that it provides the correct data.

Step 11: Now that you have created the custom metric in the Facebook ads reporting, it will be available at the top of the window. If you want to add more custom metrics, follow the above steps again and incorporate them with the right formula. You can also edit the one you already created by hovering over to the FB Custom Metric and clicking on the edit button.

Custom Metrics to Create in Facebook Ads Reporting

Now that you have the right tool to use and the steps on how to create custom metrics on Facebook ads reporting, you might still be unsure of the custom metrics you can add to your data. Here are the most common custom metrics and how you can create them on Facebook Ads Reporting.

Average Order Value (AOV)

The AOV is the metric for tracking the average amount of conversion the company gets.  Divide the revenue by the number of modifications made to know its value. For a quick note, the formula used is AOV = Purchase value / Purchase.

Knowing the AOV helps you better understand specific factors that drive Return On Ad Spend (ROAS). Creating AOV in your custom metrics lets you see how it changes between funnels you use and their specific prospects. From there, you can provide valuable insights on each of the funnel stages and improve the performance of the Facebook ads campaigns as well as AOV.

Conversion Rate (CR)

CR is also a valuable metric to keep track of in ad reporting. You can easily find the CR by using the formula CR = Purchases / Link clicks. In this way, you can identify which of your funnels, links, and audiences are performing well to increase CR. You will also know which areas you should improve, so they can also deliver you a better CR in the future.

Efficiency Ratio

The efficiency ratio or inverse ROI is also an essential custom metric you can monitor. To compute it, you need to divide the calculated spending amount by the purchase value.

If you encounter a low-efficiency ratio, you are using fewer means to gain more income on the ads you are producing.

Return on Ad Spend (ROAS)

ROAS for lead ads, and other conversions aside from purchases, is an indicating factor to know if the ads run by the company are successful or not. It also determines if the profits gained by the ad campaign are relative to its production cost.

To calculate ROAS, you can divide the lead value by the total amount spent.

Thumb Stop Ratio

Thumb stop ratio, a term invented by many paid media buyers, is a metric to help you better understand how your target customers’ video or GIF ads are performing well. The data it provides gives you more ideas on how to improve creating and optimizing ads.

Conclusion

With the use of Facebook ads reporting templates to create custom metrics, you can customize and perform analyses on the relevant performance indicators of your business. You can also measure and track them easily to know which areas you need to improve.

Aside from that, custom metrics in Facebook ads reporting also provide better productivity and workflow by an easier way to export data from the platform. And lastly, it also offers you flexibility with its automation system.

Editorial note. This content is contributed by Sidhant Mehandru

Siddhant is a data analytics professional and runs a consulting agency name Eaglytics that specializes in providing end-to-end data services under one roof. His firm primarily works with digital marketing agencies and provides marketing analytics and insights services. Before this, he worked at JPMorgan Chase as a business analyst and graduated from the one of the top engineering colleges in India. Outside of work, he’s a hardcore audiophile, loves playing golf and is a licensed scuba diver

Social Link: LinkedIn, Facebook

In today’s world, everyone has their hands on high-tech electronic devices and spends a lot of time online. Businesses see this as an opportunity to reach customers in the market by making websites for their companies. An outdated website can have an adverse effect. Read on to learn signs it’s time to update your site design. 

1. Your Website is Not Regulated Properly

One of the most obvious signs it’s time to update your site design is if you see that there is a problem with the regulations. This will hamper the company’s workflow while wasting a lot of time.

Putting out regular and relevant updates is a must. If you cant push out content because the time for that is spent on fixing technical issues in the website instead, then chances are that it’s outdated and calls for a redesign.

WordPress maintenance might just be the help you need, as it will help tackle all the technical issues that you might be struggling with on your own.  

2. The Website Design Doesn’t Match With Trends

If your website is not updated according to the current market trends, then chances are you will be driving away potential customers. The trend is volatile and constantly changes with time, and if you are focused on pulling in customers to your business, then the design must be relevant to current trends.

Having a unique visual design that matches your brand’s image is very important in satisfying customers. This also helps you stand out from the competition and appeal to your web page’s visitors.

3. Low Traffic & Poor User Experience

The primary goal for most businesses is to make a profit out of all their assets, and so the website should help you make a profit online. Having low traffic on the site makes it difficult to reach this objective.

Suppose the content published is irrelevant, and the user experience is negative due to different reasons such as slow page load speed and lack of Search Engine Optimization (SEO). In that case, your customers will be unsatisfied, and you will see that there are fewer visitors to your webpage. Furthermore, the bounce rate for the website will also be high as users will leave if the design functions poorly.

4. Incomplete Business Objectives

Drawing in customers is key to achieving the business goals of growth and generating profits. If you see that your visitors are not converting into customers, then this is another one of the signs it’s time to update your site design. This is often done by getting the customer involved with emails and forms.

The website needs to stay relevant to the business. If the business grows, so should the website and its capabilities. Otherwise, an outdated impression will drive away customers. Hence, any significant change in the company should apply to the website.

5. Incompatible With Mobile Devices

With advancing technology, people can now access almost everything with their mobile devices and spend a lot of time surfing through social media pages and other entertainment media. If your website functions poorly on smartphones, you will be missing out on many potential customers interested in your business.

This calls for some redesigning in the coding. Make sure that the site is responsive and adjusts to the devices people use, allowing them to have a smooth experience navigating through your site.

6. Ignoring the Power of Branding

As mentioned before, the website should portray an accurate image of the business. If it does not, this falls along with the signs that it’s time to update your site design.

The colors, logos, images, and typography format should all align with the company and its aesthetic visuals. These are important for telling the brand’s story and delivering a long-lasting impression to the customers who want to check out your products.

7. Outdated Security and Technology

Keeping your website secure from any outside interference is a must as your website is a running 24/7 marketplace for your customers. This means any downtime is an opportunity lost.

Furthermore, the page must be in line and secured with HTTPS protocols. If the webpage is not secure, then potential customers will be driven away. This will also affect the SEO ratings of your website.

8. Lackluster Functions

A good website will offer great functions to its visitors and make it a breeze to go through the site. In contrast, a website that provides outdated functions will displease the audience. An outdated website can also limit the tasks you can implement.

People always expect top-notch services when entering a company website, and disappointing them will severely affect your brand image. A lot of the time, a poorly designed website will also make adding good functions costly while consuming a lot of time and effort to get the job done. This puts you at a disadvantage against your fierce competitors.

You should also make sure not to overcomplicate the website with too many plugins, as it might cause performance issues.

In Conclusion

The key takeaway here is that to make a successful website you should pay attention to the current preferences of the people and the technical aspects. Additionally, you may not need a complete redesign of your website unless it negatively impacts your business. Installing some new plugins and applying the current trends will be enough. We hope that this article helped you understand the signs it’s time to update your site design, and we wish you good luck in your future business endeavors.

FAQs

How Often is Redesigning Needed?

Although you don’t need major redesigning often, you should try to stick to the ever-changing trends and deliver your business’s latest updates.

How Can You Improve SEO Performance for Your Website?

You should properly analyze the on and off-page SEO factors, use the best-suited keywords, and apply your analysis findings to the new and existing content.

Why is Redesigning Your Website Necessary?

To meet current trends, boost traffic, and meet business objectives with your website. Furthermore, redesigning is the key to delivering the optimum user experience and staying relevant. 

Nowadays, a lot of people get involved in class-action lawsuits to settle their differences with a company or the state, when they claim they have been harmed physically or financially in some way. By definition, class-action lawsuits represent a number of people who have decided to bring a matter to court pursuing the same goal, basically to be financially reimbursed for the loss they have had due to a company’s (or the state’s) wrongful actions. However, in some cases, such as antitrust lawsuits, both firms and consumers may be harmed as a result of the same claimed violation. In that case, because businesses face different economic consequences than consumers, your company may need to treat class-action litigation differently. Let’s take a look at some instances when it’s probably worth filing a suit.

A Breach of Contract

A “breach” of contract occurs when one party fails to perform any of its contractual duties deriving from the contract. These include the terms of the agreement, bringing results in the specified deadline, or even the total absence of action from the other party, depending on the circumstances, of course. If that is the case for your company, then you might want to have the contract enforced according to its terms, or seek compensation from the other party for any financial losses incurred as a result of the purported violation.

If informal attempts to resolve a contract disagreement fail, the most typical next step is to file a lawsuit. You may be able to settle the dispute with the other company in small claims court if the amount in dispute is below a predefined figure (depending on the State). Sometimes, you can agree to have a contract disagreement reviewed by a mediator or to have a contract issue resolved through binding arbitration. Other times though, you may have to resort to filing a lawsuit for “payment of damages”.  The most common damages include “Compensatory”, which are intended to put the non-breaching party in the same situation as if the breach had not occurred, and “Punitive”, which are payments that a breaching party is required to provide in excess of what would completely recompense the non-breaching party, “Nominal” which are paid only when the damage is small and no actual money can be proven and “Liquidated”, which are a fair approximation of the actual damages that could occur as a result of the breach.

These are all very useful legal tools that you can use to receive compensation from another company (or an individual) that has breached their contract with you in any way and so, you should seek out the best law firm who can undertake this type of case.

Consumer Finance And Consumer Protection Litigation

Some financial organizations use their power to intentionally damage consumers and profit themselves. Most customers have little means to try and get even or attempt at safeguarding their financial future. Litigation is a significant tool for forcing these organizations to develop appropriate procedures to redress consumer harm. 

This powerful legal tool can also be used by small companies that have been affected adversely by these large institutions. With a reliable Fair Credit Reporting Act Lawyer by your side, it is much easier to effectively fight back. Just make sure to find someone who is properly experienced with the Fair Credit Reporting Act (FCRA) and who will potentially recover even significant sums of money for damages that your company has incurred.

Collecting Damages or Preventing Ongoing Damage

Another case for filing a lawsuit is when your company has damages incurred by the actions of an individual. These damages may simply be the result of the individual defaming your firm, causing an infringement on your intellectual property, or failing to fulfill a contract, as we described in the first paragraph. If it is easy to locate the individual (because they might have left the state), then you must first consider if it is worth filing the lawsuit. That is if it’s worth the time, worry, and money if your organization has sustained minimal damages or if proving your damages is challenging. 

To be successful in a case, your company must have sustained genuine financial losses, such as lost income owing to the unauthorized use of your intellectual property, financial losses due to reputational damage, or attempted fraud. 

It’s one thing to obtain a judgment; it’s another to collect on it. You might not be able to collect the money you’re owed if the defendants have few or no assets. Another reason having an attorney on your side is vital is that they can investigate the individual you wish to file a lawsuit against and determine if they have the required financial capacity that will allow them to compensate you.

Suppose you finally reach the conclusion that the damages are significant and you think the individual is wealthy enough to pay for the damages. In that case, it stands to reason that filing this type of lawsuit can turn out to be beneficial to your company, as not only will you be compensated for the actual financial losses, but you will probably receive a large amount of money for the unauthorized use of your intellectual property or damage to your reputation.

As you can see, there is a wide variety of legal tools at your disposal should you decide it’s the right time to file a lawsuit, defending your company. As long as you’re willing to withstand the economic and psychological burden that this procedure could entail, especially in regards to your budget, as well as the time you will have to wait for the courts to reach a decision. 

It’s up to you to hire the most suitable and experienced lawyer (or law firm), who will bring the matter to court. Don’t forget: the higher the damage to your company, the bigger the rewards will be for you in the end. Besides, most legal disputes never reach a court of law, because usually, companies (or individuals) want to settle to avoid the bad publicity which will follow this kind of suit. One’s reputation is probably the most important thing in today’s society, after all, don’t you think?

1. Do Proper Research 

It can take time to get used to new technology. It can, therefore, take you time to master TikTok. It is not necessary to be good at video creation. It is possible to use your smartphone to create the best videos for TikTok. 

It is, however, more important to spend more time doing proper research on TikTok. You want to see what your competitors post on TikTok. If you see what your competitors post, it can inspire you. It can even help you come up with content ideas for your videos. Create better videos to help you beat your competition. 

It is easy to download TikTok, and it is free to register for an account. Once you create your account, you can now log in and search for users. TikTok recommend videos. You can watch these videos. Then, tap the “+” button to create your content. Once you create your content, you can use the editing effects and filters to make your video more appealing. 

It is best to search for businesses in your niche. Do not just use TikTok to watch funny videos or look for clothes. You want to use TikTok to grow your business. So, spend more time researching your competitors. You want to check out your competitors to get more ideas. 

Spend some time browsing the app to see if you can find similar business owners and see how they use TikTok to promote their businesses. 

2. Target Younger Audience 

TikTok is a new social media app, so the TikTok users are younger. The majority of users of the social media platforms, such as Twitter and Facebook, are much older than the users of TikTok. According to a study, the average age of TikTok users is around 18 to 24 years. TikTok users watch 89 minutes of TikTok videos every day. 

The audience of TikTok is younger. You, therefore, need to consider them if you want to attract them. You need to make your marketing effective for the younger audience. 

It is easy to use TikTok to experiment with tone. A lighthearted approach can work better on this app. Change your approach to make your videos more fun. If you appear cool on TikTok, you are more likely to get more views. Do not use TikTok the same way you use Instagram, Facebook, or LinkedIn. 

You can come up with new ideas and try new things. If you want to use TikTok to promote your shop, you can create virtual tours of your shop and record your bestselling products. Do not forget to mention why your products are special. 

In addition, you can share your behind-the-scenes videos and offer helpful tips. You can even teach your viewers how to create an excellent atmosphere for your customers and how to wrap presents perfectly. If your videos are fun, you can attract more people. 

3. Stay on Top of Trends 

If you really want to succeed on TikTok, you must stay on top of trends. You must know the topics that are currently trending on TikTok. You can use these topics in your marketing strategy. 

For instance, the recent heatwave can make the “British Summertime” trend. You can use the theme of summer to create your content. Link to your business from your content. If you create content about the popular topics on TikTok, you are more likely to get more Tik Tok views. 

If you sell flowers, you can create informative videos about flowers for summer. You can even show your viewers what they can plant for autumn or winter. If you are a butcher, you can teach your audience how to prepare BBQ food for the summer.

Staying on top of trends can get you more views. 

4. Influencer Marketing

Influencers are very popular on social media. Business owners use influencer marketing to promote their businesses and build their brands. If you work with the right influencers, you are more likely to get more views and grow your business. Influencers can share your videos to help you get more views. 

It is, however, more important to find the perfect influencers for your brand. For instance, if you are promoting your construction business, you can choose influencers, such as Paint Warriors. They can show paintings on various buildings. 

Influencers do, however, work for free. You will have to pay them to promote your brand. If they share the links to your products or services, you are more likely to make more money. If you can even partner with some influencers, you will make more money in the long run. 

5. Create Authentic Content 

People use TikTok to share videos about their lives. TikTok users mostly use their smartphones to film their videos. Therefore, you do not need perfect lighting, a script, or fancy equipment to create your videos. 

Keep your TikTok videos lighthearted and authentic. Use your videos to entertain TikTok users. You can create different types of videos. If you share different types of videos, some videos might get more views. Create similar videos since you now know that your audience wants these types of videos. 

It is even better to take vertical videos since they are the perfect format for TikTok. You can even add trending songs to your TikTok videos.

Online reputation management is the single most important way to raise brand awareness and ensure that consumers are aware of the advantages of dealing with your company. Most savvy business owners are well aware that using social media platforms is the smartest and most straightforward way to build a better reputation for their brands online.

What Is Online Reputation Management?

Online reputation management is the act of monitoring and noting the conversations that people hold pertaining to your brand and its products. Reputation management also includes actively pushing quality content and information in regards to your business while hiding damaging content that can negatively impact your reputation.

1. Create Brand Awareness

Social media can single-handedly allow you to build an overall better awareness of your brand by employing the use of different platforms. You have the ability to narrow down your target audience and to learn more about their online shopping habits by compiling data through your social media traffic. Having a regular presence on popular social media platforms enables brand awareness and recognition in the eyes of consumers.

2. Respond To Comments

Social media is a place where people share feedback and vent frustrations pertaining to their transactions with a business. Make it a point to moderate all of the comments on your social media posts, and do respond to criticism or problems voiced by consumers. By conducting yourself in a professional manner in your responses, other consumers will find that you take your reputation seriously and you handle all complaints.

3. Build A Relationship With Customers

Staying active on social media websites where your consumers are most likely to hang out will allow you to engage with them, gather feedback, and build a better relationship with your audience. Knowing how your consumers feel about your products or services can help you build a better brand. Buy Instagram likes through Social Plus to build your following. Most importantly, create an open forum where customers can share how your products have improved their lives, and if someone voices a complaint, make sure to resolve it adequately.

4. Select Brand Ambassadors

Having brand ambassadors that regularly comment about your products on social media can enhance brand awareness. Look no further than your own trusted return customers to become ambassadors for your brand! They can help spread word that your products and services are reliable, while their comments are also easily used on a testimonials page for your business to gain trust.

5. Become An Expert In Your Industry

People are twice as likely to trust and order from a company when their owner is seen as an expert in their industry. Write short blog posts and longer length articles that help you highlight details of your products and share insider information pertaining to your niche industry. Facebook, Twitter, and Google are just some of the more popular platforms that enable you to share your content regularly.

6. Rank Better In Search Results

Your search result rankings are greatly impacted by your social media presence. In fact, most companies have an easier time ranking with their social media profiles than they do with their own websites! Make sure you keep your profiles updated and display your contact information in a prominent manner where everyone can access it. Search engines such as Google will have an easier time picking up your contact details based on your social media presence.

7. Increase Your Sales Revenue

The reason you’re considering social media is to simply drive sales through different channels to your business. The better your social media presence, the more chances you have to get people to publicly recognize your brand. When consumers search for your products, having glowing reviews and a solid online reputation will help persuade them to make a purchase based on trust. Almost all businesses partake in online reputation management, and if your company is choosing to ignore the importance of investing in it, you’re missing out on a great opportunity!

To start a business is fairly easy. To make it grow and thrive is much more demanding, though. Businesses may fail and others may flourish. What counts the most towards either outcome is how much you are organized, strong-willed, and determined to bring it to great heights. That is no simple feat, as it requires a great deal of organization. However, if done effectively, it can save you plenty of time and money, and those are extremely valuable resources.

The purpose of this article is to guide you through the business aspects that you should definitely keep up with if you want a much better shot at success.

1. Work Environment

Your workspace, both physical and digital, as well as your surroundings, should be neatly organized. This will help you stay focused and work in the best possible way, away from all distractions and inconveniences. For instance, your desk has to be well tidied up, with the documents logically sorted. If you rely more on your computer, it is just the same; make sure your files and folders are well organized and easily accessible. Time spent searching for documents is better reduced to a bare minimum, like a few clicks or a few letters typed in a search bar.

2. Storage and Databases

Every business owner will have to deal with a considerable number of documents. They can be, among other things, administrative documents, financial records, emails, client information, or simply notes. Some of these will keep stacking up and need to be stored, while others will not remain useful for long.

Managing your storage, whether in your physical office space or your computer, can save both time and space. In particular, relying on digital databases is much faster and far more effective than having to deal with dozens of physical papers. Whenever feasible, you can never go wrong by storing your documents on computers. They will be more easily accessible, transferable, and disposed of.

3. Client/Customer Information and Support

This is precisely the type of documents you want stacking up and never disposed of, right? Indeed, clients and customers are at the very heart of every business. Managing your client database is key to making sure they are always satisfied with your products or services. In order to do so, it is critical to maintain direct, continuous communication and tend to their needs, requests, and grievances. Contact can take place in person, over the phone, or via the internet. With an effective communication system, using the appropriate tools, you can spend less time managing customers and spend more time improving your services and growing your business.

4. Market Changes and Marketing Strategies

Ignoring the constant changes taking place in the market is a quick path to downfall. Your marketing strategy should always be drafted accordingly. With that being said, marketing campaigns are best planned in advance. There is little point in being around a computer every time you need to post something on your social media accounts when you can plan them ahead and schedule them for days or weeks to come. Needless to say, this will save a lot of time that can be used instead to come up with new and better marketing strategies.

5. Investments and Future Goals

The ability to plan your business strategies ahead and establish your short and long-term goals is by far the most important aspect of any business. It is vital to see the bigger picture and build your company’s future with that in mind. Your investment approach should be well thought through, with the potential risks and rewards carefully assessed. According to Cedar Smith Management, investment strategies should be disciplined and grounded on well-established concepts. Whether you want to explore a new market, widen your area of expertise, gain new skills and knowledge, or invest in more equipment, a meticulously planned investment can go a long way. You should be aware that nothing is too far-reaching when you have a clear vision of your future goals.

6. Finances

It is safe to say that managing finances is a business owner’s worst nightmare. That’s why they usually hire people to do that for them, right? It can be both tiring and time-consuming. Add to that the risk of not doing them right, and you’ve got yourself a recipe for trouble. This includes your cash flow, invoices, billing, expenses, and taxes, to mention a few. Effectively managing finances, and in advance, not only saves you from all that but also helps you make correct and well-informed decisions.

That’s why it’s important to keep detailed records of your finances and organize them efficiently, preferably using the appropriate digital tools. Some tasks can be automated, and some can be outsourced, but the most important thing is to not let finance-related inconveniences get in the way of your business.

Don’t forget that the process of track KPI is also a critical part when it comes to company finances.

7. Scheduling

When conducting a business, you are likely to deal with various tasks, projects, meetings, and deadlines. Relying on clear and practical scheduling systems is a great way to oversee your company’s workflow and keep things in perspective. If you have employees, making use of such systems and establishing schedules in advance is much more practical than continuously assigning tasks individually. This extends to your own schedule too, as you’ll spend less time trying to remember your tasks and responsibilities when they’re right at your fingertips.

8. Time

The value of your time, as a business owner, can never be overstated. It goes hand in hand with scheduling, yet it’s more than that. By figuring out how much time is spent doing a specific task or project, you can gain valuable insight into how to conduct your business. Time management will help you assess your efficiency and productivity. You will be able to prioritize tasks, delegate them more effectively, set realistic goals, and maximize what can be achieved during a given timeframe. Poor time management can cost you a lot of money. Besides, lost time is lost forever, don’t you think?

Maintaining a successful business and keeping track of it depends largely on your organizational abilities. You should certainly not underestimate the practicality of digital software; it’s always a correct move to improve your company’s digital infrastructure. The points we discussed apply to your personnel and are bound to increase overall productivity and efficiency. We simply can’t highlight enough how important it is to be clear-sighted when undertaking your business journey.