Getting Maximum Benefits from Facebook Analytics Update

To run successful marketing campaign, you have to rely on data. Facebook and its analytics tools can provide lot of information to your business or company about your audiences. Facebook Analytics allows digital marketers to check various activities like  people’s interactions with the  company and you can optimise the customer journey based on these interactions. That is why, this metrics-rich tool within Facebook is divided into two sections: people and activity.

What is in ‘People’ section?

  • Create segments and  learn about the groups of people using your product
  • Create custom audiences based on those segments.

What to do with ‘Activity’ section?

  • See and evaluate funnels, cohorts, and active users.

Data extracted from Facebook Analytics and data from your sales and customer service teams can be combined. It can then be organised and used in your customer relationship management (CRM) platform. This will get a clearer picture of who your customers are. The data, once organised and analysed, will help your marketing team reach leads even more effectively.

Getting maximum benefits from Facebook Analytics Update:

Facebook helps you to understand audience.

It helps you to see people’s interaction with your business/ company on – iOS, Android, Web, Bots, Facebook Pages and ‘Offline’

By analysing customer behaviour across different channels mentioned above, marketer can learn about customer journey, optimise it and can add value to business growth.

In e-commerce business, we can learn about people who comment on product item listed with facebook post and go on to view linked product page on web or app.

Business can also learn how people’s interactions converted into in-store purchases and offline conversions.

There are two key sections in Facebook analytics – ‘People’ and ‘Activity’

People:

  • Understand people using your product (website or mobile app)
  • Create custom audience for specific focus based on demographics and audience insights, including – Location, Education, Interest, Age, Gender

Activity:

  • Understand what people do when they interact with website, app or product.
  • Create segments and custom audience to learn about group of people using your product.
  • Group can be defined by Events, Demographics, Device Information and Install Sources.

While creating a segment, sub-section can be selected as a Highlights, Demographics, Page Likes, Technology, Revenue, Household Purchase etc.

Use segments as – Filters in the Overview, Activity and People’s section or audiences when creating a push notification and in-app notification campaign.

Choose a conditions for segments-

Events – Actions people take in your app or on website that you define and log

Device Info – A device person is is using

Demographics – Information such as age, gender,country or language

User Properties – Custom data such as membership number

Install Source – The way person found and installed your app

Web Parameters – Data related to web events such as referrer domains

Once you have a segments you can create a custom audience. People in the segments are Facebook users and can be targeted for Facebook ads.  While doing Facebook ad campaign, with custom audience you can specify ad account, segment and time period for the custom audience.

In Activity, you have subsections like Funnels and Cohorts.

With Funnels, create and view funnels. Funnels are a series of events that help you to measure conversion rate. With funnels you can find opportunities and  optimise your mobile app or website or product. For example, you can find out checkout flow.

Funnels in Facebook Analytics

You can also create and view cohorts. Cohort is a group of people performing 2 same events during given time period. For example, adding product to cart and completing the purchase. Use cohorts to understand people’s behaviour, including – customer retention, lifetime value, repeat purchase rate.

Cohorts in Facebook Analytics

See the reports daily, weekly or monthly.

What is User Retention?

User Retention is the percentage of people who completed second event of cohort during a given time period.

Use this information to determine the retention before and after releasing a new update of your product, your mobile app or website.

Cumulative Events: Number of users per event in cohort

Value Retention: Value percentage of people who completed consecutive purchases

Cumulative Values: The value per user in the cohort

In updated Facebook Analytics, you can see number of active users, number of unique people who opened website, mobile app etc. Active users are grouped by Age, Gender and Completed Sessions.

There are 3 important metrics such as – uniques users, stickiness, monthly/weekly/daily users. Stickiness is the ratio of daily active users to monthly active users. It measures how engaged your users are.

These users or audience is your contacts. Understand relationships between contacts, including – relationships within households, business or networks; their relationship with your company – which products they own, assets they have,their locations or channels they prefer; relationships with your employees, agent/brokers and your channel partners.

How to keep all this data effectively organised in your CRM (Customer Relationship Management)?

Things you need to keep in mind while storing this data into CRM are – First, keep this data complete and accurate. Second, ensure there are no duplicates. Third, verify phone numbers, emails and mailing addresses.

Use CRM to collate your data from Facebook, Google Analytics, offline data like your sales, marketing and customer service platforms, your website as well as other third party sources. Use it to better understand and serve your customers.

Data from Facebook and its analytics tools is invaluable to the companies. When it is used together with data from sales, marketing and customer service platforms, it gets you valuable insights about your customers and market. You can use it effectively to grow your business.

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