By David Isman
If you’re an online education company, you’re likely gearing up for your fall term and working to enroll students into your program. However, it can sometimes be difficult to understand what the impact of your Facebook ads have on your overall lead generation.
When reporting to your team, they want to see numbers and the direct results of your Facebook ad campaign. Yet those numbers are elusive in this world of attribution and you don’t want to undersell the importance of your Facebook advertising campaign.
That’s why we’ve put together this information so you can not only help your CFO understand this attribution conundrum, but you’ll have a formula to calculate your own Facebook ad impact.
FACEBOOK AD ATTRIBUTION: LAST-CLICK VS. HALO EFFECT
As a last-click channel, Facebook can be a valuable source of leads for online education. The potential available audience for online education on Facebook is roughly 2 million people in the US. So, if you can get your targeting right, you’ll have an incredibly strong pool of candidates to pick from.
But given that online education generally has a long consideration cycle, users may not be ready to fill out a lead form right away: Most people who are serious about their education choose to research and submit their info only after they have done their due diligence.
When this happens, it can make it ambiguous as to whether your Facebook ad may have introduced them to your school or it triggered them to get more serious about applying.
This makes attribution difficult then if you only look at last-click leads. A user who took time to consider your school would be attributed to their last channel touch instead of the Facebook ad that may have actually launched them on their decision-making process.
In our experience, the last-click channel in this situation is almost always direct or organic search and the Facebook ad contributes to what we call the Halo Effect.
HOW TO CALCULATE YOUR FACEBOOK AD HALO EFFECT
Determining the halo effect will never be an exact science but there are some simple tools we can use to estimate the channel’s added value.
Creating The Graph With Your Data
Here’s how to create a scatterplot that showcases the Halo Effect of your Facebook ads.
(1) From Ads Manager, export monthly Facebook spend, going back as far as your account has been spending.
(2) Pull monthly direct and organic conversions from Google Analytics
- Go to Acquisition > All Traffic > Channels
- Set the Secondary dimension to Time > Month of Year
- Export to CSV, and limit to Direct and Organic Search, and grab the total for each month
(3) Line up Facebook spend and Direct + Organic conversions
(4) Build a scatterplot like the examples below with spend on the X-axis, and direct and organic conversions on the y-axis
Once you have the scatterplot built you can add a trendline and view the relationship between monthly Facebook spend and your Direct or Organic conversions.
How To Analyze Your Data
Generally, the line should be sloping up and to the right, and the slope of that Go to the full article.
Source:: Business 2 Community