Before you jump into Facebook Ads analysis, make sure you have a
Facebook Pixel set up correctly on your website. This will help you effectively track your campaign performance and reach new, relevant customers.
Another important thing to remember when creating and analyzing your Facebook Ads campaigns is to keep things organized. Make sure you have a consistent naming system for your campaigns, ad sets, and ads. This will help you later on when you need to find a specific ad or campaign for your report.
Now that you have that taken care of, you can start looking into your Facebook ads performance. Decide on which metrics are most important for your business. This will highly depend on the purpose of your campaign, but we always recommend to focus on actionable versus vanity metrics.
Actionable metrics for Facebook Ads will most likely be related to ROI, cost-per-click, cost-per-acquisition, and such. Whereas vanity metrics will show reach, impressions, clicks, etc. The reason to focus on conversion metrics is that you won’t be able to scale if you’re not making money off of your campaigns right now.