Top Conversion Optimisation Company Australia 2023

What are the most important KPI’s for Meta Ads?

Are you new to advertising on Meta and keep asking yourself “how do I know if my Facebook ads are performing well” or maybe “how do I analyse ad performance?”

We get it, advertising on Meta’s channels can be overwhelming and understanding which metrics to track can be a stressful exercise without guidance.

Here is your guide to understanding the most important key performance indicators (KPI’s) for your Meta ads and what they mean.

Organic reach on Facebook and Instagram is dead. As of 2022, Facebook and Instagram’s organic reach sits at around 5%. Meaning only 1 in 20 followers sees your content in their feed.

Facebook and Instagram are now pay to play platforms. If you’re not putting a paid budget behind your posts, no one will see them. Whilst this has been a blow for some small businesses, it can also be seen as an opportunity to show content to users who are more likely to engage with it. When you create a paid campaign for your organic posts, you can then define the audience type that will see your content.

Organic targeting through Hashtags

In the past, using hashtags to generate more likes and followers has been a popular method, however this has meant that some businesses built followings with socials users that aren’t the ideal customer. The benefit of Meta ads is that a business can control who the content is displayed to, ideally users who are more likely to convert.

This all sounds great but where do we start with paid campaigns?

To run effective social campaigns, businesses need to understand the social analytics and metrics that Meta uses to report on campaigns.

What are the most effective metrics for measuring Meta ads efficiently?

At Business Assist we break up the most important metrics based on the three campaign objectives:

  1. awareness
  2. consideration
  3. conversion

A business marketing funnel can help contextualise where campaign objectives fit in your overall marketing strategy.

A business marketing funnel typically consists of 5 different stages that align with Meta Campaign Objectives:

  • Awareness
  • Interest
  • Consideration
  • Intent
  • Purchase

So, how do I know if my Meta ads are performing well?

To know if your ads are performing well and if you’re not just throwing money behind a campaign without seeing a return, you need to track the correct success metrics. Luckily, Meta Ads Manager provides an all-in-one tool for managing when and where your ads run and tracking their performance.

It is important to regularly monitor your Meta ads to ensure you are getting the most out of your budget.

But how do you know which metrics to track? We break down the three campaign objectives and their relevant success metrics.

An Awareness campaign in ads manager

The main goal of an awareness campaign is not to drive sales but to assist your business to be the first business users think about when they need a service or product you offer.

An awareness campaign objective maximises the number of people who see your ads and how often they see them. With this objective, you can choose to maximise your reach or impressions for the entire duration of your campaign. Reach campaigns are used to target specific audience segments and ensure that the ads are delivered to specified.

The metrics that should be tracked for an awareness campaign are:

Impressions are how many times users have seen your post appear in their feed.

The Reach metric is how many individual users have ‘seen’ the campaign.

Cost per 1000 Impressions
How much it costs to get 1000 views of your campaign.

Cost per 1000 Users Reached
How much it costs to deliver your campaign to 1000 users.

Total number of users who have engaged with a campaign. This could be a video view, click, like or share.

A Consideration Campaign in ad manager

Consideration campaign objective is to increase traffic to your site. It should generate high-quality users that will create leads/sales/other.

With more traffic comes more data and a large set of data opens potential to build “gold audiences” like lookalike audiences.

Consideration campaigns are also one of the most cost-effective forms of social media advertising. The metrics that should be tracked for these campaigns are:

How many social users clicked on the campaign

Cost Per Click
The cost of each click. These can be compared to industry benchmarks.

Link Clicks
How many users clicked to view a website or landing page

Cost per landing page view
How much it costs for users to click through to website or landing page

A Conversion Campaign in ad manager

The conversion campaign objective is to drive the valuable actions you define as conversions. In most cases this is typically leads or sales, but Meta let’s you define your conversions as applicable to your business.

As your audience grows, the Meta algorithm will adjust the campaigns to focus on converting users to match your campaign goals.

Conversion campaigns cost more to run as Meta views this audience and campaign objective as one of its most effective and charges accordingly.

Lead generation campaigns can be the quickest and most effective way of generating leads. This involves an on-Meta lead form that allows users to fill in their contact details and any other relevant fields you have set and submit it. You can generate new leads without directing the user to exit Facebook/Instagram.

It is important that key questions are asked of the user in the contact form so that the leads can be qualified. The ease of filling out this form; Facebook pre-populates user information, means that without those questions lead quality can suffer.

The metrics that should be tracked for these campaigns are:

The number of leads from Meta lead generation automatic forms, pre populated on Meta platforms.

Cost Per Lead
Cost of those leads generated on Meta platforms

Cost Per Result
Cost per website lead or submitted form

How do you track the success of Meta ads?

Each Meta ads campaign objective plays a distinct role in a comprehensive Meta advertising strategy. Depending on the campaign objective, Meta’s algorithm will optimise the campaign to help you reach your Meta paid campaign goals.

To ensure an effective Meta advertising campaign, a business needs to make sure they measure the correct metrics.

Work out what your campaign objective is. Build your campaign around that objective and use the correct KPIs for that objective to ensure the campaign is successful.

Contact Business Assist today to help your business create a bulletproof social strategy that will help your business achieve your new business goals.

Share this:


Free 25 Page eBook

Download the Influencing Your Digital Marketing Metrics ebook

Growth in numbers translates to growth in business, learn about the digital marketing KPI’s that can dramatically boost your business trajectory.

Free 25 Page eBook

Download the Influencing Your Digital Marketing Metrics ebook

Growth in numbers translates to growth in business, learn about the digital marketing KPI’s that can dramatically boost your business trajectory.

Where to from here?

Book Your Digital Strategy Session

Free 45 Minute Digital Strategy Session

We’ll get in touch with you to arrange a time for your session and gain some initial background on your business needs

What you'll get

Website Audit

A strategic look at your website from the inside and out conducted by one of our senior digital strategist’s

Industry Strategies

An insiders view of what unique strategies work for similar businesses in your industry and how you can capitalise on these learnings

Spy on your competitor’s

A sneak-peak at what your competitors are doing online

Success framework

A digital marketing success framework tailored to your business

Niki Patterson

Business Assist help us with the growth of our business, which is what every business wants, and also it really feels like everyone on the team understands and knows your business well. It’s not just one person, everyone is somehow involved and I appreciate that. Thank you so much for all your hard work in fixing our campaigns. We are all incredibly appreciative.

Jo McMillan

Business Assist were a pleasure to work with as we developed our new website. They were responsive, considered and always sought to provide us with the best possible product at a competitive price. We are very happy with the website they produced for us and have had a lot of positive comments on it. Business Assist is also great with follow up and ongoing support, should we need it.

Dean Burns

We only launched Rent Busters Perth in November 2018, so it is incredible that Business Assist generated over 500 leads for us in June 2020!  They helped us with our branding, market positioning and have since worked very closely with us on developing new offers, headings and campaigns every month. And most importantly we are signing a record number of deals every month!

Business Assist are more like our business partner than supplier and we heavily rely on their expertise and the results they deliver are extraordinary – I can’t recommend them more highly.

Lisa Bywaters

We’ve been working with Steve and the team at Business Assist since 2010.  With an information dense website it’s vital for us that our visitors find the information they need, when they need it. The BA team understand that people search for information in an organic way, that it’s not a linear process. By using their expertise, we now have a friendly, welcoming website that allows visitors to find the information they need quickly and easily. They were also extremely helpful when we transitioned to our new name and new website – with everything from developing a new website that incorporated consumer and staff feedback, to developing an SEO strategy and Google Ads campaigns that helped us retain our past users and attract new ones. They’re a professional, friendly team that takes the time to get to know the needs of your organisation and your website users.

Tony Raunic

A few years ago Hunt & Hunt Lawyers decided to put more resources into our SEO.  We interviewed a number of contractors who all promised their services would be superior.  We were struck by Steve Foura and his team’s preparedness to invest time in learning about what was distinctive about our business and what we particularly wanted to achieve.

We appointed Business Assist to focus on SEO improvements for aspects of our property team marketing including our compulsory acquisition advisory services.

The results have been outstanding with web-based enquiries growing exponentially and, critically, the right prospective clients contacting us and invariably converting into fee paying clients.

We certainly recommend Business Assist highly for any professional services business looking to better leverage its internet presence.

Ultimately, Hunt & Hunt asked Business Assist to develop a new website for our national legal group and we are very pleased with the results.

We continue to work with Business Assist today across various teams as we derive great value from Steve’s practical layman’s advice on SEO.  Business Assist also understand our business and genuinely seem to go the extra mile to add value.

Robert Thorpe

It felt that our previous digital agency was not very engaged with our business – there was a real disconnect.  With Business Assist we feel like we’re talking to the people who are actually implementing the campaign, or at least have a very good understanding of it.  We believe this is one of the main  reasons we saw results happen straightaway – increased new customer inquiries from Australia and overseas. But the other thing we get is great advice from Business Assist about things we can and can’t do from a Digital Marketing perspective. We trust really these guys. The other thing we’re getting is the changes we’re asking to make or services we’re changing, it happens really fast – there’s nothing like a 2 week period of waiting.

Amanda Greer

We’re a small business but we try and behave like a bigger company and Business Assist help us lift that bar. They have helped us get ahead of our competitors. We have a strategy meeting soon where we will develop a 5 year plan and we look forward to Business Assist’s input and planning what we should be working with them on for the next 5 years.  Business Assist have a  really good personable team and they tailor to us – we really like the flexibility. We’re very strategic in what we do and Business Assist helps us enhance our competitive advantage by reacting to opportunities quickly. Our position, interests and needs are well aligned.

Dave Porter

Business Assist are responsible for our new leads coming in. Increasingly, we are becoming more and more reliant on digital marketing as the other avenues are either too expensive or deliver little or no return. So we are extremely reliant on Business Assist.  And they have delivered for us for many years and continue to do so in 2020 where we keep having all-time record revenue weeks! We also really appreciate the team at Business Assist and I’ve always enjoyed working with a company that we feel as though they are really part of our team. We have a very healthy working relationship.

Karl Zimmerman

Since hiring Business Assist to take over our in-house Digital Marketing management, our Google Adwords spend has gone down by 75-80% and our traffic has increased by over 150%. To see such a massive drop in spend and yet an increase in traffic has to be one of the biggest and most impressive things I have ever seen.

Also, compared to what we were getting before, we see Business Assist basically as a free investment with the high returns and the increase in traffic we are getting. Not only that, each time we face any problems, the team gives us much valued solutions, not just ‘yes, we can fix that’ but also different options to choose from.

Business Assist gave us the ability to trust them with our money compared to the other 3-4 companies we had before them. We now can see where our money is going and the returns for it. They also take the time to explain details to us and make sure we are given regular updates. As we grow as a business, we see us growing with Business Assist.

Brayden Cameron

We have been using the Business Assist team since 2013. Coming from a trade background in Roofing & Roofing maintenance and jumping into Digital for all that is involved is a daunting task. We know everything worth knowing about our own trade and Digital is such an unknown area. In turn we were so hesitant because we felt like we were getting ripped off from previous attempts with other agencies and any requests for information or advice would have an extra charge or a feel like such an up-sell. Upon working with the Business Assist team we have COMPLETE clarity around the following:

  • Cost Vs Conversion (analytics)
  • Competitor analysis
  • Our target market and how to attract them
  • Brand Strategy Marketing
  • Social Media
  • SEO & so much more.

Providing these services should be a given for any Digital company – however we have found that it is not. Providing this whilst maintaining honesty and transparency even educating us along the way, whilst not making us feel like idiots because we didn’t know certain terms throughout the process is the real benefit working with Business Assist. We have meetings every week / fortnight with the team to report on every aspect of the business on a digital front. We feel the Business Assist team is an extension of our 40 + family. I think we are really fortunate we found a company that propelled us to grow from 2 staff to 40+ in 7 years – they know our company as if it was their own!