In the modern world of digital fundraising, data abounds. There is no shortage of information; in fact there is often too much information, which can lead to analysis paralysis. Having lots of data is not as important as having the right data and knowing what to do with it. When it comes to optimizing a Facebook Ads fundraising campaign, there are five metrics that matter most to me.
These are not the only valuable metrics, but 80% of my optimization decisions are made based on these metrics and what they tell me.
CPM – Cost per thousand impressions
Since Facebook varies the CPM based on how much the audience engages with the creative, if the CPM is high that tells me that creative is not resonating. It could be that the creative is not very effective, or it could be that the audience targeted is not the best one for this creative. Changing either the creative or audience can help the ads get shown more for the same dollars and that can lead to more clicks and conversions without changing budget.