Analytics in Facebook Business Manager – What The Treasure!
Facebook is a badass advertising platform. It never stops dazzling you when it comes to kicking off new features or updating the old ones. Analytics in Facebook Business Manager is one such tool not short of the capability to knock your socks off – if you learn all about it worth learning.
And so, we set out on the journey to make *Facebook Analytics* a cinch for you. By the end of this short read, these two words would be way more than just two words for you (if you successfully see it the way we do).
Just a heads up.
Facebook Analytics tool in the Business manager is not the same as Facebook page analytics.
So, let the fun begin.
- Analytics in Facebook Business Manager
- What is the Analytics tool in Facebook Business Manager? What does it do?
- Where is this tool?
- How Does Analytics tool in Facebook Business Manager Work?
- 1- View Visually Represented Data:
- 2- View Funnels:
- 3- Other trackable activities:
- Analytics Uncovered. Treasure Dug Up. What Next?
Analytics in Facebook Business Manager
What is the Analytics tool in Facebook Business Manager? What does it do?
It is a tool that Facebook launched in 2018 as a new development in the Business Manager. The tool actually took the advertisers by surprise as it was capable of working wonders.
Here’s what you can do with Fb Analytics:
Tapping into new markets with dynamic insights into your marketing efforts, such as:
- The funnels, giving you insights into how multiple channels contributed to a conversion.
- Insights into customer actions.
- Insights into the conversion rate of products and offers.
- Accessing all the data on the go with Analytics in Facebook Business Manager mobile app
In short, getting into Facebook analytics gets you in a unique position to look at the value of the customers and at how each of you paid, and unpaid effort is paying off.
As you dig deeper, you’d see how each of these features is worth way more than what you think (and understand) about it right now.
Where is this tool?
1- To get to the Facebook Analytics tool, you need to sign in to your business manager account first.
2- Click on the Business Manager Tab on the extreme left top of the screen. You’d find them right next to the Facebook symbol at that corner.
3- Go over to the third column – Measure and Report. *Analytics* hold the 5th position in the column, right under the *Monetization Manager*.
4- Click and discover the untapped grounds of advertising. See how Facebook has created many avenues for you to make the best out of your paid and organic marketing.
How Does Analytics tool in Facebook Business Manager Work?
And now for the most critical questions – how to actually use these funnels we have been pointing to? How to make use of these interactions of customers and your offers and the products. What do all these features actually mean for you?
Let’s find out:
For first time users and learners, we have shortlisted the top three uses of Facebook Analytics.
Let us go through each one in detail:
1- View Visually Represented Data:
The first thing you get to see as you click on *Analytics* – can you describe that?
It’s all a bunch of numbers showing some drop and boost – ups and down in activities under the highlights section.
A few graphs based on user activity in Growth Metrics.
A bunch of stats showing where your traffic is coming from?
And several other graphs, funnels, and a few more details.
That’s not all.
Let’s dig deeper into the whole analytics section and see what treasures are buried here:
Starting from the top, this is EVERYTHING you see the visual representation of:
The highlights section give you the exact information on the following:
- New users
- Unique users
- Purchase conversion rate
- Week 1 retention
- Top 10% purchase value
- Week 3 average lifetime value
- Median session length
This section also compares each value with the past 28 days by default (or the time frame you pick), giving a visual representation of whether the stats have improved or dropped.
Active users: last 24 hours
- This area gives a graphical representation of the peaks and depressions of the activity of unique users in the last 24 hours. This section also shows if the activity has improved or dropped in comparison to the last 2 days.
- The user activity line graph compares the daily, weekly, and monthly graph lines and the number of active users with each time duration.
Top traffic sources
This data gives a complete representation of all the sources that bring unique users, with the number of unique users from each source. The options include:
- Social networks
- Search engines
- This data gives a complete representation of all the sources that bring unique users, with the number of unique users from each source. The options include:
Top new user traffic sources
- These feature the same sources, as mentioned earlier.
Top new user locations
- As the name indicates, you get to know the new locations where traffic is coming from.
- This is the graph that shows you joining the new users, with peaks and depressions, and compares the new entries with the last 28 days stats.
Active users: by hour
- For the 7 days for 24 hours each, this is a visual representation of the most active activity hours.
Just like the *New Users* graphs, the bounce rate also gives you an idea of when was the bounce highest and when did the bounce rate drop, with the peaks and the depression. It also compares the last 28 days of activity.
Top web pages
It gives you an exact number of what pages got the most traffic.
Lifetime value for paying users
- It is a graphical representation showing how many users started using your products during this week (divided with each day). The columns represent the amount each user has spent during this week.
- This section gives you the total revenue figure of a month and divides it into a graph in 4 weeks. The peaks and the depressions of the graph show when you earned more revenue (and how much, based on the amount divisions on the Y-axis). The section also compares your revenue to the last month’s revenue.
Purchases by device type
- This section gives you an idea of which devices were used to make purchases from you.
- This is a graphical representation showing how many of the first time purchasers also made a second purchase. It gives you a funnel conversion rate as well as median completion time
- This graph is a breakdown of your total unique users into males, females, and other values. It gives you the exact numbers as well as the percentages.
- The graph breaks down the total unique users into age ranges.
- This section gives you the top 5 countries from where the users are interacting with you the most. It also gives you the exact number of unique users from each country.
Interestingly, you can view each of the graph/data chat or any representation in full reports for each.
But is that all?
Not that this is less than a treasure of information, but this is still not all. Here’s more:
- Information about the analytics app. Yes, there are other integrations too!
- You can dig into the business impact of Facebook or Instagram with featured blogs.
- And of course, how could the analytics section leave out the Facebook cross-channel attribution?
You might want to dig deeper into the Facebook Attribution tool here.
2- View Funnels:
Before we get into the funnels, you can visualize with the Business Manager platform, you need to understand a fundamental question.
And that’s that?
What is Funnel?
If you are a marketer (or aspiring to be one), or a business runner, the funnel you should be interested in is most likely to be a sales or marketing funnel.
A Facebook Ad funnel is the advertisement system that you set up to get your prospects from a point zero into taking the desired action, i.e., convert them.
Here’s how Ana Gotter from Single Grain elaborates and simplifies the concept of the funnel for you:
So, if you are trying to sell a product Z to a cold audience, you would design the whole avenue that ultimately leads the audience into buying your product Z. That avenue might consist of several Facebook campaigns to push the audience from 0-point towards the product in question, one step closer with each effort.
And that whole system of Facebook campaigns meant to draw conversion is your Facebook funnel in action.
What has the Analytics got to do with Facebook Funnel?
Say your product Z is at point 10. You started moving your prospects from point 0. The funnel in the analytics tool tells you exactly how many prospects you were successful in pushing down the funnel at what level with what efforts/campaigns.
What campaign or ad, in particular, helped in bringing how many people from point 3-4 in what duration of time. For instance, how many people were you able to get to your Facebook page or website in a brand awareness campaign. It also shows how many of them ended up adding your product in the cart and with what ads led them to the website. And so on!
How does Facebook get you all that data?
Does Facebook own a wand or know a spell or two? Or does the platform hire private investigators that bring the report accurately down to each minute and each person?
The simplest answer is *Pixel*, a tracking pixel that tracks each step you want your prospects to take.
So, call this tracking pixel a wand or an investigator or whatever. But it is capable of something more than all of them together.
To form a funnel, you’d have to install the tracking code (pixel) on each step that you want to track. Your funnel could have several steps ranging from:
- Viewing your website
- Viewing a product page/landing page
- Add to Cart
- Initiate check out
- Payment info added
Say you choose the following funnel:
View content —-> Initiate checkout —-> Purchase
You’d have to install the tracking code on each of the mentioned pages. How to install that pixel? You’d read more about it in our post on Events Manager.
You can find the existing funnels or create the new funnels in the Analytics on the left-hand menu, under the *Activity* dropdown.
3- Other trackable activities:
What exactly does analytics do, again?
It gives you an overview of everything marketing you are doing and everything profit or loss that your doings are resulting in.
Overview, that is!
But there’s more to Facebook Business Manager Analytics than what has already been covered.
Let’s get into that together:
Let’s briefly check what you discover in detail under the activity section:
This section gives you detailed data and graphs on the following:
- Unique users
- New users
- Median session length
User activity with:
- Number of events
- Unique users
- Avg events per user
Sessions (line graphs) with
- Average session length
- Median session length
- The median time spent per user
- Number of sessions
- Bounce rate
Age and gender
This section deals with data on:
- Total revenue
- Total purchases
- Unique purchasers
- Revenue per paying user
- Avg. revenue per purchaser
- Avg. purchase per user
Age and gender
We have already discussed them in detail above. Apart from being able to see all your created funnels here, you can create as many more as you want.
This gives you information about people percentages coming back to your website from different sources.
This section gives you information on how different groups behave over time.
This is a pivot table of your data that can be grouped by different parameters, i.e., channel, source, etc.
This section gives you customer behavior across many event sources.
The section gives you the graphical representation of percentile of users for page views and purchases – overall and event wise.
*Events* – a detailed section on the action that people take on your products i.e., view them, buy them or add them to carts, etc.
This is quite self-explanatory.
This is a graphical representation of the actions of different users across different channels and the parameter that you chose to learn (the overlap) about.
This section gives you the idea of the value of your customers. The idea is to measure how much they spend on your products.
Under the People section, you can discover more on the:
- User Properties
Oh wait, there’s this dashboard section where you can create new dashboards. You can keep some of them private, or share them with the rest of your team.
Analytics Uncovered. Treasure Dug Up. What Next?
You just discovered what a fantastic tool this Facebook Analytics option is.
You get to discover which of your offers have been successful – and how successful have they been. It shows you the most valuable customers of your business. You discover what platforms are more useful in drawing conversions for your business.
What’s the best part?
The tool is completely FREE.
You don’t get to pay anything to discover that mind-boggling world of analytics.
Interestingly, these analytics are different from Facebook page insights. These are more detailed and comprehensive insights into your ads manager activity. Facebook page insights give you the insights into your page activity and cover the insights and analytics of your page only.
So up for using Facebook Analytics?
If so, which of the features of the tool convinced you to make use of it?
Let us know in the comments.
If you want to discover more about Facebook Business Manager, make sure to check the following guides on each of the features of the platform:
If you need professional advice on your Facebook Marketing, get in touch with the USA’s top Digital Marketing Agency’s experts. Because they are known to skyrocket businesses and their returns with Digital Marketing.