Are you among the 92 percent of social marketers using Facebook for advertising? If so, here is something to remember: there is more to advertising than spending a few bucks (or more) and hoping for the best.

We’ve talked about the importance of monitoring your Facebook Ads cost per page like before, but there are more Facebook analytics you can be looking at too. If you want to get as much as possible out of your Facebook Ads, it is imperative to track a variety of metrics. This will allow you to make adjustments on the fly, while also saving both time and money.

Here are three metrics you need to track:

Ad Costs

Wouldn’t it be nice if you had an unlimited amount of money to spend on Facebook advertising? Unfortunately, this is not the real world. Regardless of your business, industry, or goals, it is safe to assume you have set an advertising budget.

Tracking ad costs allows you to:

• Stay within your budget.
• Calculate return on investment (ROI).
• Understand your spend over time (daily, monthly, etc.)

Note: dig deeper by filtering costs by account, campaign, single ad, or ad set.

Impressions

What good is a Facebook ad that doesn’t reach your target audience? You need to compare your spend against the number of impressions (defined as the total number of times your ad entered the screen for the first time). This metric does not guarantee your audience will take action, but it does prove that people are at least viewing your ad.

Impressions can be viewed by date, allowing you to see which days of the week generate the best results.

Clicks

It may be important to track impressions, but it is clicks that matter most. This metric allows you to track the total number of clicks on an ad over a period of time.

Depending on what you are promoting, this could include everything from app installs to page likes (and much more).

There are two other metrics that fit within this category:

• Cost per click: calculated by the amount spent divided by the number of clicks.
• Click through rate: all clicks divided by impressions.

As a general rule of thumb, you want to keep your cost per click low and your click through rate high. This will yield the “most bang for your buck.”

What Now?

Now you’ve got the knowledge (and power!) necessary to track a variety of essential Facebook advertising analytics. When you combine this with organic Facebook metrics, you have a killer strategy that will allow you to achieve success on this platform.