CPS, CPM, CPA: Evaluating Facebook
Everybody knows that Facebook is the most known social media network worldwide and million people make a post, leave a comment or give a like at least once a day. The challenge starts when a company is creating a Facebook page and let anyone to make a post, a contest or even a Facebook campaign.
The moment a manager decided to take its company online is the moment in which the social media specialist should enter the scene because even if many of them are Facebook experts, few of them are experts in Facebook. The first step consists in creating a professional Facebook page, using relevant imagines and, most of all, adequate posts related to the companies area of expertise and to the main audience’s features in order to have a high reach rate. After a while you need to make a proper evaluation of post’s efficiency to see if you have chosen the precise approach or you will have to change it. This evaluation has to be made using particular KPIs (Key Performance Indicators): Likes, Comments, Shares, Talking about it number, Page reach and other useful information from the dashboard, but these are not enough.
Another resourceful strategy for your Facebook page is the campaign manager that allows you to have brand awareness strategies, brand engagement strategies, promotions, etc. There are plenty from which you can choose: CPA (cost-per-action) so you can attract visitors to your website, CPL (cost-per-like) to enhance the number of page likes, CPC (cost-per-click) to arise your Facebook ad visibility and CPM (cost-per-mile) that you are paying for only when you as reaches 1000 users. The most useful strategy, for online shops especially, is CPC (cost-per-customer) which convert users in buyers, the main purpose for every manager. But if you don’t re-enforce the campaign with a very particular audience targeting, copyright imagines and company core, all the effort will be in vain and the budged will be lost.
If everything is done properly, the impact and the effects would need to be evaluated through ROI (Return on Investment). In this case, the ROI evaluating instruments are: socially-referred leads, socially-referred revenue, the number of brochure downloads, website visits and MEV (Media Equivalent Value) that means the money equivalent of the imagine created through social media which was traditionally produced through paid advertising. Compering the figures after the evaluation, you will see if you can call it a success or not and you can go to the next level.