When you run ads for a business, it’s important that efficiency is one of the key factors that you consider.
Whether you want to maximise ROAS or scale, there’s a level of efficiency that you want to achieve that is backed up by numbers.
One metric that you will want to keep your eye on that can be used as a way to measure the efficiency that you will want to be monitoring on your ads,
If your frequency is hitting higher numbers, that means that the ads are being served to people too many times. For example, if your frequency is at 12, you need to consider what the difference between that 11th and 12th impression is. How many people are likely to convert because of seeing an ad 12 times instead of 11?
Of course, every business is different and that applies to frequency too. As a general rule, if you are offering something high-ticket, you’ll need more touch points and a higher frequency, combined with different messaging that covers benefits and overcomes objections.
Finding Frequency is as simple as searching for the metric under Columns in the ads manager.
Another useful metric for the Top of Funnel (cold traffic) is First-Time Impression Ratio.
First-Time Impression Ratio (or FTIR for short) is a metric that lets you know the percentage of your daily impressions that comes from people seeing your ad set for the first time.
This metric can be really helpful in situations when you aren’t quite sure why ad performance is dropping.
It may be because your content is reaching the same people in your ads. This becomes a problem when ads have been running for a long time or when you’re scaling. Essentially, if all your content is similar with the same messaging, the delivery algorithm will optimise your ads to go to what would be the same audience. Even though it is a good thing that your ads are delivering to the right people, if you’re trying to get in front of new people, it can be a hindrance.
The way to combat this is to understand that, at scale, the messaging and content that you’re putting out onto the platform needs to appeal to different people and optimise in a direction that your other ad sets are not.
Interestingly, FTIR isn’t a metric that you can select in Columns. Instead, you have to select an ad set and select the Inspect icon. From there, you can find a lot of great metrics, including FTIR.
Keeping an eye on these two metrics will help your ads stay efficient and help you remain on course.
Hope this helps!