In episode #566, Eric and Neil talk about the new Facebook Analytics tool. Tune in to hear why and how you should be using it.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: How You Can Use the New Facebook Analytics
- [00:50] In the recent months, Facebook has added the ability to look at funnels.
- [01:23] Now, you have the ability to check on funnels through a dashboard.
- [01:37] Amplitude is a great tool in conjunction with Facebook ads.
- [01:55] Neil feels that the data is still really off.
- [02:20] Even when you’re looking at conversions in Google Analytics, the numbers are always higher.
- [02:40] You have to be able to cross-reference your data (either internally or externally).
- [03:00] It’s free and in your best interest to look at Facebook analytics even if the numbers are a little off.
- [03:12] Think of touch-points, as well; think of this as a way to get more insights from your Facebook marketing efforts.
- [04:00] You need to track email as well as revenue.
- [04:13] That’s it for today!
- [04:15] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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The post How You Can Use the New Facebook Analytics | Ep. #566 appeared first on Marketing School Podcast.
Full Transcript of The Episode
Speaker 1: Get ready for your daily dose of marketing strategies and tactics from entrepreneurs with agile and experience to help you find success in any marketing capacity. You're listening to Marketing Score with your instructors Neil Patel and Eric Siu.
Eric Siu: Welcome to another episode of Marketing School. I'm Eric Siu-
Neil Patel: And I'm Neil Patel.
Eric Siu: And today, we are going to talk about how you can use the new Facebook Analytics. I'll go ahead and cap this one off or cap it off. I'll go ahead and start this one.
Facebook Analytics, obviously, they are one of the largest advertising platforms in the world, right? They want to be able to arm their advertisers with the best information so they can make better decisions and ultimately spend more money. In the recent months, they have added the ability to look at your ... What I really like is the ability to look at funnels, so I'm able to actually look at anybody that's reacted on any kind of page posts and then I can look at anybody that's viewed a page on my actual website, and anybody that has actually reached a goal, right?
For example, on Single Grain, I can ... Let's say I'm running ads. I want to be able to see anybody that's interacting with any of my ads, anybody that has viewed a page and anybody that's actually filled out a free consultation form. Now with Facebook Analytics, I have the ability to do that. I can actually add that to a dashboard as well, so this is very similar.
I use Mixed Panel. I use Amplitude. I've looked at all these tools. It actually is a nice add-on.
Neil Patel: Oh, you use Amplitude. Most people don't know about that yet.
Eric Siu: Yeah. Amplitude's a great tool. They're doing well.
Neil Patel: [crosstalk 00:01:40]
Eric Siu: Yeah. You can look at the funnels, for sure, and then there's also a whole host of other things that you can take a look at, which I'll talk about in a second.
Neil Patel: Yeah. Eric pretty much mentioned what's new, what's awesome. There's one thing you need to keep in mind. Although it's great and you can look at a whole funnel, the data is still really off. They haven't fixed that yet. I don't know why. It's not just my account. Everyone's seen the data that's really off. For example, they'll show me roughly double the amount of conversions that I really have and that's okay. I just know how to adjust my numbers and we have Excel spreadsheet, and we have a internal account of what's real.
Even Google Analytics, everyone's like, "Oh, yeah. That's amazing and that's accurate." But when you're looking at conversions in Google Analytics, my numbers in GA is always higher than what we're showing in our database. Again, that's just with my business, but I also have access to a ton of the other GA accounts because people are giving them to me and we're seeing the same thing. Same with the Facebook Analytics. Everyone's showing me more conversions than what they're really getting.
Eric Siu: Yeah. Neil is completely right. You got to be able to cross reference the data too, so I always don't like looking at just one source. Ideally, you're looking at multiple ones. Maybe you can cross reference it within Google Analytics. The other thing is ... In terms of other features with Facebook Analytics, you can build out a dashboard, you can look at retention reports, you can also look at a whole host of other things as well.
Look, it's free. If you're running Facebook ads right now, it's in your best interest to take a look at it so it can help you move forward in the future. Even though if the data is unclear right now, at least you have some semblance of what you should be doing.
Neil Patel: Yeah. Think of Touch Point, as well, right? What it allows you to end up doing is seeing all the different touch points in how Facebook is helping you drive sales. Don't think of it as, "Oh, this is the one all, be all analytics solution." Think of this as this will give you more insights from your Facebook marketing efforts from paid to organic, to pretty much anything Facebook. It'll allow you to help figure out, all right, this is coming from ads, this is coming from what I'm doing for my fan page.
It helps break down everything that you're doing on Facebook, so that way you can make a more informed decision on if you should be spending more money, less money, what you should be doing with your Facebook or ad dollars, and how you should be allocating them. But keep in mind, we can't emphasize this enough. Always cross reference conversions with your database and don't just track conversions as a email. You need to track revenue. Not all emails are the same. Emails from certain people or certain regions convert better or worth more, so you have to make sure you look at the dollar amount instead of just the pure number of conversions.
Eric Siu: Yeah. If you want more marketing goodies like this, like this podcast episode, or even tools, go to SingleGrain.com/giveawaytolearnmore and we'll see you tomorrow.
Speaker 1: This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of. Don't forget to rate and review so we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on Marketing School.
Eric Siu: Welcome to another episode of Marketing School. I'm Eric Siu-
Neil Patel: And I'm Neil Patel.
Eric Siu: And today, we are going to talk about how you can use the new Facebook Analytics. I'll go ahead and cap this one off or cap it off. I'll go ahead and start this one.
Facebook Analytics, obviously, they are one of the largest advertising platforms in the world, right? They want to be able to arm their advertisers with the best information so they can make better decisions and ultimately spend more money. In the recent months, they have added the ability to look at your ... What I really like is the ability to look at funnels, so I'm able to actually look at anybody that's reacted on any kind of page posts and then I can look at anybody that's viewed a page on my actual website, and anybody that has actually reached a goal, right?
For example, on Single Grain, I can ... Let's say I'm running ads. I want to be able to see anybody that's interacting with any of my ads, anybody that has viewed a page and anybody that's actually filled out a free consultation form. Now with Facebook Analytics, I have the ability to do that. I can actually add that to a dashboard as well, so this is very similar.
I use Mixed Panel. I use Amplitude. I've looked at all these tools. It actually is a nice add-on.
Neil Patel: Oh, you use Amplitude. Most people don't know about that yet.
Eric Siu: Yeah. Amplitude's a great tool. They're doing well.
Neil Patel: [crosstalk 00:01:40]
Eric Siu: Yeah. You can look at the funnels, for sure, and then there's also a whole host of other things that you can take a look at, which I'll talk about in a second.
Neil Patel: Yeah. Eric pretty much mentioned what's new, what's awesome. There's one thing you need to keep in mind. Although it's great and you can look at a whole funnel, the data is still really off. They haven't fixed that yet. I don't know why. It's not just my account. Everyone's seen the data that's really off. For example, they'll show me roughly double the amount of conversions that I really have and that's okay. I just know how to adjust my numbers and we have Excel spreadsheet, and we have a internal account of what's real.
Even Google Analytics, everyone's like, "Oh, yeah. That's amazing and that's accurate." But when you're looking at conversions in Google Analytics, my numbers in GA is always higher than what we're showing in our database. Again, that's just with my business, but I also have access to a ton of the other GA accounts because people are giving them to me and we're seeing the same thing. Same with the Facebook Analytics. Everyone's showing me more conversions than what they're really getting.
Eric Siu: Yeah. Neil is completely right. You got to be able to cross reference the data too, so I always don't like looking at just one source. Ideally, you're looking at multiple ones. Maybe you can cross reference it within Google Analytics. The other thing is ... In terms of other features with Facebook Analytics, you can build out a dashboard, you can look at retention reports, you can also look at a whole host of other things as well.
Look, it's free. If you're running Facebook ads right now, it's in your best interest to take a look at it so it can help you move forward in the future. Even though if the data is unclear right now, at least you have some semblance of what you should be doing.
Neil Patel: Yeah. Think of Touch Point, as well, right? What it allows you to end up doing is seeing all the different touch points in how Facebook is helping you drive sales. Don't think of it as, "Oh, this is the one all, be all analytics solution." Think of this as this will give you more insights from your Facebook marketing efforts from paid to organic, to pretty much anything Facebook. It'll allow you to help figure out, all right, this is coming from ads, this is coming from what I'm doing for my fan page.
It helps break down everything that you're doing on Facebook, so that way you can make a more informed decision on if you should be spending more money, less money, what you should be doing with your Facebook or ad dollars, and how you should be allocating them. But keep in mind, we can't emphasize this enough. Always cross reference conversions with your database and don't just track conversions as a email. You need to track revenue. Not all emails are the same. Emails from certain people or certain regions convert better or worth more, so you have to make sure you look at the dollar amount instead of just the pure number of conversions.
Eric Siu: Yeah. If you want more marketing goodies like this, like this podcast episode, or even tools, go to SingleGrain.com/giveawaytolearnmore and we'll see you tomorrow.
Speaker 1: This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of. Don't forget to rate and review so we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on Marketing School.
