eCommerce Analytics are more complex than the analytics used for lead generation campaigns.
The main reason is that there are more stages in a typical eCommerce sales funnel than a lead generation funnel.
Before starting a new eCommerce advertising campaign it’s essential to analyze your competition’s marketing.
In Facebook, you’ll set up your campaigns using the conversions objective.
There are various website conversions to choose from. We’ll look at those in another post.
Once you’ve set up your own testing campaigns you’ll need to analyze the data you collect.
Analyzing your eCommerce analytics will help you identify bottlenecks in your sales funnel.
eCommerce Analytics – Sales Funnel Metrics
- Outbound Clicks
- Landing Page Views
- Content Views
- Adds To Basket
- Checkouts Initiated
- Payment Info Adds
For each of these actions, you’ll want to know:
- The number of actions
(e.g. 152 link clicks, 43 add to cart, 12 purchases)
- The cost per unique action
(e.g. $1.25 per link click, $15.47 per add to cart, $45 per purchase)
- The conversion rate (CR) of each action compared to the previous action, for example:
‘Adds To Basket’ Conversion Rate
This is the percentage of Website Content Views that result in Website Adds To Basket events
‘Checkouts Initiated’ Conversion Rate
This is the percentage of Website Adds To Basket that result in Website Checkouts Initiated events
‘Payment Info Adds’ Conversion Rate
This is the percentage of Website Checkouts Initiated that result in Website Payment Info Adds events
‘Purchase’ Conversion Rate
This is the percentage of Website Payment Info Adds that result in Website Purchase events
You may be wondering why we look at both Outbound Clicks and Landing Page Views. They are not the same thing.
These days there is a lot of spam and bot traffic on Facebook that can skew your stats.
You want to make sure that the people who are clicking on your ads are landing on your pages.
The number of outbound clicks should be slightly higher than landing page views
Not everyone who clicks on your ad will land on your website page.
If they have a poor internet connection they may close the browser tab before the page loads.
eCommerce Analytics – Other Key Metrics
Unique Outbound Clicks
Why do we look at unique outbound clicks instead of the total number of outbound clicks?
It’s because the same person might click on the same ad twice or more.
We are only interested in the number of unique people clicking on your ad. That’s because in most cases, one sale comes from one person. After a person buys your product, they will not buy the same product a 2nd time in most cases. Of course it depends on the product you are selling.
Unique Cost Per Click (CPC)
Many people ask what a decent CPC is. It’s all relative to your Facebook ad account. You should only compare your CPC to the average CPC of your own ad account. There are too many variables that can affect this.
Unique Click Through Rate (CTR)
Again the CTR will be relative to your ad account’s average CTR only. Don’t compare it to other people’s ad accounts.
eCommerce Analytics – Customize Columns In Facebook Ad Manager
Customizing your columns in Facebook Ads Manager makes it much easier to analyze your data.
Here’s how to do it.
In Facebook’s Ads Manager, click on this dropdown menu:
Select ‘Customize Columns’ in the dropdown menu.
From there you can check the columns that are important for you.
Click on the ‘save as preset’ checkbox in the bottom left corner to save it.
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