Whether you are new to online marketing or you are the consummate online marketing professional, certain terms and phrases linger out there that sometimes allude us. Now that the social network known as Facebook has almost completely and utterly taken online marketing to the next level, it’s important for you to understand (and know where you can find) their various and sometimes unique verbiage. And that place is right here in the IMPACT Learning Center.
Without further ado (and in alphabetical order), here are the key phrases that will be mentioned throughout your experiences with Facebook advertisements.
- Bid: This is a term that is somewhat universal throughout online advertisements; it’s the maximum amount that you are willing to pay for each Facebook ad campaign.
- Clicks: Once again, this term is synonomous throughout online pay per click campaigns; this is the nuber of click-throughs your Facebook campaign has received.
- Connections: One of our favorite statistics to track; not only can you tell the click-through ratings, but you can also see how many took it to the next level and actually did something after their click. Some examples of the actions taken are (1) Page Likes, (2) Event RSVP, (3) or App Instillation. Unfortunately, you will not be able to view this statistic if you are not advertising a page, event, or application.
- CPC: This is what pay-per-click campaigns are based on; the amount of money that you’re paying each time someone actually clicks on your advertisement. For budgeting purpose, these numbers are significantly important.
- CPM: No, it’s not cost per million, but it is cost per thousand. In other words, this is the average cost that you are paying per thousand impressions of your advertisement.
- CTR: As we talked a little above about clicks, you can also measure the click-through-rate which is efficiency of your advertisement. In other words, it measure the number of impression (on average) it takes to have ad clicked.
- Frequency: The average number of times each person has seen your facebook ad.
- Impressions: The number of times your ads have been displayed on facebook.
- Price: Hmmm…if you own a business, you should know what this means. So, if you don’t know what the price is indicating, let us know and we’ll contract our business consultation service as well. All kidding aside, the price that you pay will be based on either clicks per thousand or cost per click.
- Social Clicks: One of the great things about Facebook is the networking factor. Social Clicks is the statistic that shows the names of the viewer’s friends who connected with you through your page or application.
- Social CTR: You guessed it and hit the nail right on the head. This is the combination of social clicks and click-through-rate where this stat measures the clicks received divided by the number of social impressions (see the next term).
- Social Impressions: This is the stat that displays the number of impressions that were shown with the names of viewer’s friends (who have already connected with you through the ways mentioned above).
- Social Reach: A great statistic for Facebook and one that makes it’s online advertising campaign unique, the social reach measures the people who viewed your Facebook ad with the names of their friends who have already connected with you. Once again, this statistic only applies to those who are advertising a page, event, or app.
- Social Percentage: A useful measurement for businesses as it shows the number of impressions where the views displayed at least one friend who liked your page, event, or app.
- Spent: And, finally, we end on an easy one. While it doesn’t measure the amount of stress that online advertising has caused you (which is why you should hire a professional team), this is the amount of money that you have was spent during a specified period of time.
Now that you have a better idea of what you’re looking at, I’m sure this also brings up further questions and/or ideas. Which, of course, means that we want you to voice those questions and ideas so that we can help you build your business. So, don’t hesitate to reply in the comment section below.
If social media marketing is something that you are interested in but don’t know how to get started, contact us today to schedule your free marketing analysis.