There is a number of metrics that can be viewed together on a daily basis as part of a dashboard. Facebook makes it easy to switch between views for Ad Campaign, Individual Ads or full Facebook Ads Account. We have grouped the following statistics for live view display and real-time tracking: IMPRESSIONS, CLICKS, and CLICK-THROUGH RATE.

REACH is a great metric. It tells you how many people are shown (reached by) your content (or ads). Not all networks report user counts. Instead, they report counts of views or IMPRESSIONS. Use REACH to evaluate and fine-tune definitions of your ad campaigns. It could be useful to correlated your REACH with user ACTIONS (such as clicks). If your content REACH grows but ACTION RATE declines this could be an indication of low content relevance. To improve relevance you should consider increasing Ad quality and/or fine-tune your Ad Campaign target audience settings.

It is a good idea to track Ad impressions over time and correlated it with actions taken by users. These actions could be likes, app installs, conversions and others. Increasing ACTION RATE and CLICK RATE is always a good thing. If these metrics degrade, it could be an indication of poor Ad quality or low Relevance. One way to fix that would be to fine-tune your Ad Campaign target audience settings.

Tracking cost of Ads over time is easy. Facebook provides such metrics as COST PER MILLE, COST PER CLICK and COST PER ACTION (explained below). Understanding if you are getting return on your Facebook Ad investment is a little more complicated. It is a good idea to correlate COST PER CLICK with dollar value of one Ad Click. Ad Click Dollar value can be calculated from CONVERSION RATE (percentage of site visits from Facebook that lead to conversion, such as product purchase) and Revenue that comes from conversions. CONVERSION RATES are available from Web Analytics applications such as Google Analytics that Octoboard will also track for you.