Facebook Tip!

3 custom metrics now for more meaningful Facebook Ads Reporting

Here’s how to set up custom metrics in Facebook, along with the simple formulas for the 3 most important metrics.

Step 1: In your ads manager, go to 'Columns: Performance' then, 'Customise Columns...'

Step 2: Click ‘Create Custom Metric’

Step 3: Enter the metric name, description, and formula

Step 4: Click ‘Create Metric’ and your metric will be saved 👌🏼

3 most important formulas:

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Earnings Per Click (EPC): 

Why it matters: Just like a Profit and Loss statement, knowing how much a click earns will help you understand why driving down your costs (i.e. cost per click) will drive more profit.

Format: Currency

Formula: Purchase conversion value / Unique link clicks.

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Average Order Value (AOV):  

Why it matters: The more we can increase our average order value, the more profitable advertising becomes.

Format: Currency

Formula: Purchase conversion value / Purchases

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Conversion Rate (CVR):  

Why it matters: Knowing an ad’s conversion rate can help us optimize the same way knowing a landing page’s conversion rate. 

Format: Percentage

Formula: Purchases / Unique link clicks

Finally, don’t forget to save your ideal dashboard as a preset so you don’t have to customize your columns every time. 

🚀 A huge thank you to the Pilothouse team for this tip!