If you’re like most consumer brands, you're spending a significant amount of time and budget on paid social ads through Facebook and Instagram. Last year, Facebook ads revenue grew over 47%.One challenge many brands are facing is the ability to create enough quality content to power these ads at scale. As a result, of this content shortage, brands have been repurposing influencer content as an always-on content engine. It’s quickly proving out that influencer generated content performs amazingly well on Facebook and Instagram ads – 8x better than branded content, to be exact.To help bridge the gap between the marketers running the paid social ads, and the teams that are responsible for the content, we’ve built an easy-to-use Facebook Ads Dashboard that will enable teams to instantly report on the performance of individual pieces of content, according to whichever metric you hold dear. While Facebook allows you to segment your audience at a granular level, it can be difficult to organize and analyze data that helps you understand which types of content drive the most conversions. What if you could source large amounts of targeted content and then easily identify exactly what type of content performs the best for each of your audiences? Well, we're happy to say that now brands can do just that.
Why we built this feature
At Aspire, our goal is to make our product work with all of the tools and channels that social media and influencer teams use today. We’ve built features like our content library, Google Drive sync, and now the Facebook Ads Dashboard, that are designed to make it easier for your team to manage learn, and iterate from the content that you’re producing in order to extract the maximum value.Often, the teams within an organization who are making content don’t speak the same language and usually don’t communicate enough with the teams who are running ads. By closing the loop between the social media and influencer managers and the performance marketers, both sides can understand what type of content works best so they can get more of it, with each batch of content building on the success of the last.If you aren’t familiar with how Facebook ads work, image, targeting, and relevancy are everything. Unfortunately, it can be a real challenge to determine what types of content will be relevant to each of your audiences without being able to track performance.Because Facebook Ads Manager does not allow you to track ads performance by demographic, it can be difficult to answer complex questions, like “Which image and caption combination has performed best with women between ages 25-34 over the last week?” without the proper tools.
This new dashboard analyzes your images and videos to see what content performs best in your paid ads by aggregating data seamlessly across audiences, demographics, and more.
How the Facebook Ads Dashboard works
The new Facebook Ads Dashboard gives you the ability to easily analyze the performance of your content, with filters giving you the data that you need to optimize your campaign. For example, you can see which content performs well with a specific demographic such as 18-24-year-old women in California.
What can you do with it?
- Create a report that shows the top performing images by conversion goal
- Report the images you included in your carousel ads that are underperforming
- Report what image and caption combinations work best with a certain demographic
- Report audience segments that generate the lowest Cost Per Action (CPA), high purchase rates, and lowest total spend
- Calculate the true ROAS across videos and images
- If you’re using multiple ad accounts, you can view all of them aggregated together.
Doesn’t Facebook already do this?
The short answer is no. Facebook Ads Manager is not oriented around specific pieces of content. Instead, Facebook only lets you structure things hierarchically by ad unit, ad set, campaign, and account. The way that Facebook’s native ads dashboard is set up makes it difficult to get basic insights into which content performs well with each audience. There is no way to see how ads are doing by demographic, and there’s no way to aggregate your data around specific content, such as image or video, without labeling your ads and then downloading all the data into Excel.
With Facebook’s native tool, to get an idea of how well your content is (or isn’t) performing, you would have to download all your ads, name every piece of content, and then perform complex analysis in Excel. The good news is, we’ve eliminated all of that time-consuming work with our new dashboard.