Monitor your campaign's performance
Once you have set up all your tracking pixels (as described here), you'll start to receive data on your campaign's performance. So how can you use this data to inform your next steps? We’ll start by focusing on Facebook and Teespring analytics. These analytics can give us specific data and by cross-checking stats, we can avoid being misled by wrong data.
Lets say you launched your FB ad yesterday at 3 pm in the target market. You have set the budget to £10 per day and will have spent around £7 by this morning. That’s when you should first look at the statistics. Go towww.facebook.com/ads/manage and click on your ad campaign (that’s the folder your ad set and your specific ad are in). On the ad set level (where you can see your target audience and the budget you chose), click onto the one you want to analyse. This will take you to the specific ads level (where you created the ad content) which will look like this:
The following indicators and numbers are important to determine if your FB ad and Teespring campaign will be successful or not:
- The “Cost” section for a PPE ad shows you how much you pay per engagement (i.e. how much money you spend for each click, like, share, comment etc.). A very good value is £0.03-£0.05. As long as the Cost Per Engagement (CPE) doesn’t exceed £0.13 you don’t need to worry too much. If the CPE is very high then the audience you targeted is probably not very interested in the product. That means that you either used an inappropriate design for this target group or you generally targeted the wrong people.
- The “Click-Through Rate” (CTR) is a very important indicator. It tells you how many people who have been served your ad actually clicked on it. You should have a CTR of at least 4%. A very good CTR is around and above 8%. If the CTR is very low, it could be that the ad image or message is not appealing (so people don’t click on the link in the ad text), the design is not right for your target audience, or the targeting is not good enough.
- It’s very important to always keep an eye on the “Total Spent”. Two of the most important indicators related to the total spent are the Return on Investment (ROI) and your net profit. In order to calculate these values, which will tell you if your ad is worth running or not, you need to have a look at the Teespring statistics at the same time. We will show you how to calculate these values in the section “Teespring Analytics” below.
- The “Relevance Score” shows how successful your targeting is. The maximum score is 10. If you target the right audience (the people who will be most responsive to your ad), your relevance score will be 9/10 or 10/10. If it’s below 7/10, you’ll want to revisit your targeting and play around with the interests.
This gives you a good initial look at the performance of your FB ad. However, you will need a few more values from Facebook to get the full picture of your performance. To get more data, just click on “View Report” on top of the ad data line we just analysed. This is the Facebook ad report dashboard:
Click “Customize Columns” to select the indicators you want to analyse. Right next to that button is one called “Breakdown”. In there you can select divisions by country, age, gender, ad placement etc. It will show you all indicators separately for each of those groups (e.g. CTR for each country, website clicks for different age ranges etc.). This gives you further insight into what countries, age groups, genders etc. perform best (e.g. high CTR, many checkouts, lots of website clicks) so you can optimise your targeting in the future.
- You want to view “Website Clicks” here. This number shows you how many people actually visited your Teespring campaign page through the ad. In a PPE ad, it is the number of people who clicked on the Teespring campaign link in your Facebook ad text. The higher the number the better. If a lot of people engaged with your ad (see number of “Results” in the first image) but hardly anyone went through to your campaign page then maybe the campaign link is not visible enough in the ad text, or you didn’t instruct the buyers properly to click on that link.
- The last indicator we will note from Facebook analytics is “Checkouts”. This number tells us how many orders came through that specific ad. Keep in mind: you will only see this data if you have installed a conversion pixel on your Teespring campaign page and if you linked the conversion pixel to your ad (see step 7). If you haven’t done this, don’t worry: if you only run one ad to your Teespring campaign, then you can simply look at the numbers of sales on the Teespring campaign page.
Facebook’s data is not always 100% accurate. For example: If someone shares your ad with a friend and that person clicks on the website or makes a purchase, Facebook very often doesn’t record those website clicks or sales. In order to make the right decision we also want to have a look at other data sources like Teespring analytics.
To access Teespring’s analytics, simply go to www.analytics.teespring.com and insert the url of your campaign. Here you will see:
- Sales by date
- Sales by advertising tool (message buyer function, cross-sales, etc)
- Product styles purchased
- Product colours purchased
- Visitors by date
- Visitors by location
- and much more...
You can optimize your future campaigns if you know what colours and styles were most popular in that niche. You'll also get an idea of the best selling days.
The Analytics section will also show:
- Number of successfully placed orders
- Profit per order
- Aggregated profit in USD
The most important thing here is the aggregated profit as you can now compare your profits to your "Total Spent" on Facebook ads and calculate the ROI.
How can I make a data based decision now?
Now you know where to find all the data you need. To make the data analysis easier, we've created this Excel sheet. Just download it and then proceed with inserting the respective values in the right columns.
Once you have an overall picture of your campaign's performance, about 12-36 hours after you launched the ads, it's time to make some decisions:
- No conversions (i.e. sales) after the first 12-24 hrs but high engagement (low CPC, high CTR): Let the ad run for at least another half a day (because those stats imply that you have good targeting but maybe the design is not appropriate). If you still don’t have any sales after that extended period then turn off the ads and review your design. If sales start to pick up then let the ad run on and monitor the data closely during the following days to make sure you are not losing any money.
- No conversions and little engagement: Turn off the ad immediately. Revise the targeting especially but also the design.
- Break-even (profit generated by sales equals the ad spend): Let the ad continue running and check it again a couple of hours later. As long as the campaign breaks even you should let it run on. Always monitor these ads very cautiously because as soon as the ad spend exceeds the profits made by sales, you should turn off the ad. If sales pick up and your campaign becomes profitable then you can increase your budget by up to $10.
- Many sales (5+): Increase the budget by up to $15 straight away.
Then, every morning cut the losers, reward the winners (i.e. increase the budget if appropriate) and check again in the afternoon for the ones you are unsure about.
If you get very few or no sales, you’ll want to review the whole campaign process:
- Is the price too high? (lower price)
- Is the design not suitable for that niche? (review design and slogan)
- Is the design right but am I addressing the wrong people? (review targeting on Facebook)
- Do I catch the attention of my audience properly? (change ad text, shorten and simplify the campaign description)
- Do I offer the wrong products? (For example: Do I only offer male products but are a lot of my website visitors female?)
- Are there any mistakes in the design, description, ad? (check particularly if you use foreign languages)
- If you have tested a niche with 3 designs and you still don’t have any sales then just move on to a new niche! Don’t get hung up on one niche!
Google Analytics combined with Teespring analytics and Facebook ad statistics give you a full overview of how your niches behave and how your ads and campaigns perform. You can make adjustments to your future campaigns and to your targeting in your ads according to these insights.