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· Issue 42 · April 2018

Facebook Analytics:

Dmitriy Kruglyak

H

Monetize the Customer Journey by Dmitriy Kruglyak

ave you tried Facebook Analytics yet? Now is the time, as Facebook is putting massive investment into one of its most underused and misunderstood

products

Segments are created by including or excluding events by

Single View of the Customer

type, parameters or demographics. This is similar to how you

Rich people-based data is the decisive advantage Face-

create rules for website audiences, but with a lot more flexibil-

book has in the analytics game. No other player can connect

ity. You can then run traffic reports on a segment or convert it

activities of users with as much detail on who they are. This

into a custom audience

puts Facebook in the position to surpass analytics value provided by anyone else

Funnels are set up by configuring a sequence of Customer Journey steps. This allows Facebook to report on conversion

Until recently Facebook had focused on collecting “mar-

rates and completion times for step transitions. This is espe-

keting signals” from standalone touchpoints. This means Face-

cially valuable across channels, for example relating people

book Pixel and App SDKs for online properties, Offline Event

who engaged with a video or a messenger bot to a lead capture

Sets for offline transactions, and of course internal tracking for

form on the website.

activities inside Facebook’s own “walled garden” Now you can combine all channels into a single view!

Step 1: Set up Event Source Groups The greatest recent addition to Facebook’s marketing

Lifetime Value (LTV) reports aggregate purchase value per user and let you track and measure repeat purchase behavior over a period of time.

Step 3: Turn Insights into Profit

platform are the Event Source Groups (ESGs). You create and

With the data and the reports configured you can drill

manage ESGs from Business Manager. When you assign Pag-

down to find the factors driving conversions and repeat pur-

es, Pixels, Apps or Offline Event Sets to an ESG, it becomes

chases for your users

a single view of your users across all marketing touchpoints represented by these data sources. In practice, this lets you connect almost every step in the Customer Journey (except external traffic sources) to the Face-

Unlike Ad Insights which only report on paid campaigns results, with Facebook Analytics you can gain a clear view of your traffic, regardless of the source, by tapping into Facebook’s wealth of data.

book’s user profile. While not every possible data source would

Once you identified the critical drivers of success, you can

be relevant for every business, at the very least you should con-

turn them into segments and then export them as audiences

nect your Facebook Page to your Pixel or App

for retargeting and lookalike building

Step 2: Use Segments, Funnels, and LTV

Key Takeaway

Once you have an ESG that represents your Customer

Facebook Analytics is a game changer for advertisers.

Journey you can create custom views into the data, which pro-

Learn how to use it or find a solution provider that can help

vide maximum insight into your business

you

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Dmitriy Kruglyak runs TargetChoice LLC, offering processes, software and services for Facebook Ad management. dk@targetchoice.com

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