4 Best Tools to Track ROI on Facebook Ads

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.

Tools to Track ROI Facebook

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.

Tools to Track ROI Facebook Ads
Image from KISSmetrics.com

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.

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Image from KISSmetrics.com

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.

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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).

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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.

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You can locate your Page’s Insights at the top of your Page.

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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.

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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.

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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.

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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.

To see more about setting up a conversion tracking pixel on Facebook, you can see our blog post here, and to learn more about how to create ads that convert, sign up for our Facebook Ads Formula.

FB Ads Formula
Our FB Ads Formula has helped businesses and entrepreneurs go so far as to quadruple their ROIs.

Conclusion

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!

How to Track ROI on Facebook Ads

It can be difficult to know whether or not your marketing campaigns are actually bringing in a profit. It is important to know, though, if that last $600 and all those hours you spent on your last Facebook Ads campaign was profitable or a waste of money.

For the long term success of your marketing campaigns, it is crucial to know how to track ROI on Facebook Ads.

Why It’s Important to Track ROI

If you don’t know whether your ads are producing profitable results, you’re taking a shot in the dark. You could be making money or–what seems to more often be the case– you could be losing it rapidly.

About six months ago, I actually heard someone say “there’s no such thing as ROI on Facebook Ads!” Well, technically I saw it on a forum, but I’m still not making it up.

This man, who claimed to have been running successful Facebook Ad campaigns for eight months, was actually arguing the case that there is no such thing as ROIs on Facebook Ads because “you don’t make money on Facebook.”

This is a false statement, all the way around, as I’m sure a lot of you know already. But because I’ve seen similar sentiments echoed in various dark holes across the Internet, I still want to address it.

Anytime you invest money into something (in this case, paying for the ad) and get positive results from it, you’re looking at a return on investment, also known as an ROI.
Not only that, but as we all know, you can make money advertising on Facebook—businesses wouldn’t be spending so much if they just wanted likes and fans to boost their self esteem. I would be curious to know what he defines as a “successful campaign” if he isn’t making any money off of them.

I think this man is a great example of exactly why you need to understand how to track your ROI. He had no idea if he was making money (I’m assuming he wasn’t, since he was saying you couldn’t), and when another member asked how his campaign was successful, he didn’t seem to have an answer other than it had been shown to a lot of people.

Great, your ad was shown to two thousand people, and you paid good money for it.

What does it matter if you don’t know the results? You can keep running an ad that not only isn’t making you money, but isn’t getting you any kind of results, and you would never know.

That’s why it is important to know how to track ROI on Facebook, or any social media campaign.

If you don’t, you can waste a lot of money and time running campaigns that aren’t getting you what you want, and you would never know otherwise.

If you do track your ROI, you can see what works well and what doesn’t, keeping what’s profitable and changing or omitting the areas you are losing money.

Facebook Ads can cost a lot of money. It can definitely be a worthwhile investment (we wouldn’t be here if it wasn’t), but it’s crucial to make sure that money you’re spending is coming back to you in larger quantities or in the form of great results.

It can be tricky to measure ROI on Facebook, because at a first glance, some types of campaigns may not produce obvious monetary, fiscal profit. Running campaigns to get likes on your Page, for example, don’t show immediate monetary profit. But you’re investing that money and time into long term sales, customer service opportunities, and the building of rapport. Overtime, this can and most likely will contribute to profit.

How to Track ROI on Facebook Ads

Fortunately, with the resources available to us, it’s much easier than it used to be to accurately track ROI on Facebook Ads and actually know whether or not we’re running successful, profitable campaigns.

Install Facebook’s Conversion Tracking Pixel

Facebook specifically designed their conversion tracking pixel so that we could—you can guess it from the name—track conversions and ROI generated from Facebook ads.

To create a conversion tracking pixel, you can go into Power Editor and elect “conversion tracking” on the drop down menu.

track ROI on Facebook

From there, you can choose what type of actions you want to optimize for and track.

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Facebook will then generate a unique code, or offsite pixel, that you can install on your site.

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After the code is installed, you can actually create an ad while viewing the pixel, automatically utilizing the conversion tracking in that ad.

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Facebook’s conversion tracking pixel follows users from your ad that they clicked on, all the way to the actions they take on your site. This is one of the best ways to know whether your ads are working for sure, instead of just wondering whether the increase of traffic or sales was from the ad or some other factor.

This can give you definitive answers, and if you’re utilizing Facebook Ads for anything other than getting likes on Facebook, you want to install the conversion tracking pixel as soon as possible. To see more about getting the results you want, click here for more information about our ROI-boosting Facebook Ads Formula.

FB Ads Formula
Our FB Ads Formula has helped businesses and entrepreneurs go so far as to quadruple their ROIs.

The conversion tracking pixel gives you great insight, allowing you to monitor your campaign’s success easier. It will tell you exactly what conversions were made, helping you evaluate whether or not your campaign was successful.
At the end of the day, you can evaluate the results, listed in an easy-to-decipher way, and see whether you’re getting back what you put into your Facebook ads.

More Tips to Track ROI on Facebook and Monitor Campaign Success

Set Goals for your Campaign

Setting measurable, trackable goals can help let you know whether your campaigns are meeting your own expectations. Sometimes monetary value isn’t necessarily the way to look at it, as a lot of Facebook marketing focuses on soft selling techniques. If you are looking for registration sign-ups, decide how many you want for how much you’re spending per campaign, and evaluate whether that will be worth the monetary value overtime for your business.

Track Your Campaigns Entirely

You need to monitor and keep track of every aspect of your campaign. How much money was spent, how much time was spent (and, if applicable, how much you spent paying someone to run them), how long the campaign ran, what your objective was, what your results were.
You need to track everything.
Facebook offers great analytics on campaigns, but I like to keep track of my individual campaigns in an excel document, where I can look at all of this information in one place. Long term, it’s important to know every factor that could affect each campaign and what the results were.

Only by factoring in every factor will you know whether or not you’re seeing positive ROIs and if your campaigns are on the right track.

As a bonus tip, if you have multiple campaigns across multiple social media platforms, excel documents make a great place to compare these results, too. Facebook vs. Twitter, anyone?

Review and Edit

Review your campaigns and make changes where they are needed, or perhaps try split testing your current ad with a new one. As always, taking what you learn to create more successful and profitable marketing campaigns is key to increasing your ROIs.
At this point, it’s also time to review and edit your ROI goals. If you didn’t reach it, examine whether or not your goal was realistic, and try to determine why you didn’t. If you flew past your goal, consider increasing your own expectations for your next campaign.