It can be difficult to know whether or not your marketing campaigns are actually bringing in a profit.
Tracking ROI on Facebook Ads can be tricky—was it actually your ad that brought customers to your site or encouraged that purchase, or was it some other factor? Maybe they stumbled upon your site some other way.
It’s important that you know whether or not your campaigns are bringing in positive ROI, however. If you don’t, how will you know which campaigns are profitable, or whether the money you spend on Ads is an investment or a hole in your wallet? Some people are spending thousands of dollars per month—knowing whether or not that money is bringing in the results you want is crucial.
Fortunately, it’s gotten easier to track your ROI on Facebook Ads thanks to new tools to help you do so. To help you find these tools and start tracking your ROI more accurately than ever, we’ve compiled a list of 4 of the best tools to track your ROI on Facebook ads.
To see a brief video overview of the tools, you can watch the video below. Make sure to read the rest of the post for more thorough information.
4. KISSmetrics’ ROI Tracking Tool
KISSmetrics is a great online resource for marketers, so it’s no surprise they’ve released a great tool designed for tracking your ROI from campaigns on platforms such as Google Adwords, Linkedin Ads, and, you guessed it, Facebook Ads.
KISSmetrics doesn’t just track what happens after someone clicks on your ad and leave it at that—they take tracking conversions to the next level. They actually track customers who originated from a paid search, like your Facebook Ads, at any time after that.
Ever wondered about a customer who clicked an Ad to your site but didn’t purchase? KISSmetrics will actually track that customer long afterwards, and will let you know if they return to your site to make a purchase a month later. You can track the customers your ads bring you, determining which ads bring you the most long-term clients. They track not only conversions, but the value of your conversions.
You can track your ROI overtime using KISSmetrics tool, not just the one-time potential Ad conversion.
Especially with KISSmetrics measuring ROI across multiple platforms, you can utilize it to determine the most effective ads per platform, as well as the most effective platform for your ads.
KISSmetrics is currently offering a free trial on their tracking tools, so take advantage of it to see if it’s the right tool to help you track your ROI, even outside of Facebook Ads. Their conversion tracking tool can be found here.
3. Facebook’s Insights
We’re going to take a brief break from talking about purely financial ROI for a minute.
While ROI has traditionally always referred to financial return on investment—and primarily still does today—social media marketing has introduced us to what some experts are calling social ROI. This refers to the social results you’re seeing on your investment—likes on your Page, engagement, and shares.
Understanding the social ROI you’re getting is important, too, especially when you’re running Ad campaigns purely for likes and engagement on Facebook, instead of running campaigns selling a product outright. Social ROI is about building rapport, the slow and soft sell, and gaining you clients over time. To read more about social ROI, you can view this article here.
Yes, you get notifications when someone comments on a post, and you can see that engagement on your page. But noticing that it happens and actually being able to detect trends for a week—for example, a week where you’ve started running ads—is helpful to determine the overall success.
Facebook’s Insights tells you everything you need to know about what happened in a week—new likes, engagement, and more. If you’re using Sponsored Posts, or if you’re boosting posts, you can evaluate engagement easily, comparing it to the engagement on the rest of your posts. In this way, you can see whether the social impact and engagement received (6 likes and 12 comments, for example) was worth, to you, what you paid (maybe $10).
This allows you to see if you’re getting the type of results you want for what you’re paying. You have concrete answers about the social ROI you’re getting, and you can decide whether it’s worth what you’re paying.
You can locate your Page’s Insights at the top of your Page.
2. Google Analytics
Google Analytics, along with the rest of Google’s other tools, is incredible for a lot of reasons, and if you don’t have it installed on your main website and/or mobile apps yet, you should, immediately. Even outside tracking for ROI it’s incredibly helpful in tracking your traffic overall. We use it, and we love it.
Google Analytics boasts giving you all the information about your customers, telling you where they came from, what pages they visit, and what actions were taken. They argue—and are correct—that this makes it easier to connect with new customers by learning what’s working already.
They combine all this information in easy-to-understand charts and reports to help you make sure your Ads are getting you the ROI you want.
To read more about measuring social media ROI utilizing Google Analytics, you can see this great article here.
1. Facebook’s Conversion Tracking Pixel
We mention Facebook’s conversion tracking pixel in a good number of our articles, and talk about it more detail in our recent blog post about how to track your ROI. This pixel is one of the best tools to utilize when you’re tracking your ROI on your Facebook Ad campaigns.
Facebook’s conversion tracking pixel is easily the most effective way to track your ROI coming from Facebook Ads. It’s your most important tool, and it only makes sense that Facebook would come up with the most reliable method to track your ROI on their own ad system.
The conversion tracking pixel will track what actions users take after clicking on your Ad. Do you they get to your site or landing page and click away immediately? Do they click through your site before closing out? Maybe they add to a cart but don’t purchase, or sign up for a newsletter. The conversion tracking pixel is designed to let you know what actions are taken and to keep track of them.
Facebook’s conversion tracking pixel is easy to create and install. You can also create pixels dedicated to tracking different actions, like adds to cart, views of a particular page, purchases, or lead generations.
Tracking your ROI coming from your Facebook Ads is crucial to long term success and profitability with your Ads campaigns. These tools are all reliable to helping you track your results.
What tools have you used to track your ROI? Leave us a comment and let us know!