Cheat Sheet - Key Terms You Need to Know Facebook Ads by Foundr PDF

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Cheat Sheet Marketing founder key terms...

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KEY TERMS CHEAT SHEET: HOW TO RUN FACEBOOK ADS

GETTING STARTED 1. Pixel - The brain of your business. The reason we are able to optimize. The Pixel measures user activity across devices, and allows us to build audiences to remarket towards and optimize for that behavior. 2. Business Manager - Where all important things live. Your Ad Accounts. Your Pages. Your everything. 3. Ad Account - Where you will make your money! This stores all Campaigns and Creatives.

ACTIONS THAT HAPPEN ON FACEBOOK Then, when they click on it they are taken to your site, and we can track their “actions” to determine how effective our ads have been. At its core, Facebook is charging us as advertisers on an oCPM level (Optimized Cost Per Mille), or charging us per every 1000 impressions. Then, they take a markup on the various end results you are hoping for, whether that’s Leads, Calls, Purchases, etc. 4. Unique Outbound Click - Clicks that take you off of Facebook owned properties. (on screen example) a. Explain difference between regular click and outbound click 5. CPOC - Cost Per Outbound Click 6. UOCTR (Link) or Unique Outbound Click Through Rate (Link) - The % of times people who saw and clicked on your link. 7. CPM - Cost Per 1000 Impressions - The cost to deliver our ad for 1000 impressions.

Now, the user is on your site, and we can track their actions or how Facebook views it — their “events” — more granularly...

EVENTS

8. Destination/Link Setting - The landing page in which you are marketing towards. 9. ULPV - Unique Landing Page View - The number of consumers who made it to your landing page. 10. UCPLV - Unique Cost Per Landing Page View - The average cost per each landing page visit. 11. UATC - Unique Add To Cart - The first step in the checkout process. 12. UCPATC - Unique Cost Per Add to Cart. 13. UIC - Unique Initiate Check Out - The second step in the checkout process. 14. UCPIC - Unique Cost Per Check Out Initiated. 15. UP - Unique Purchase. 16. CPUP - Cost Per Unique Purchase. 17. CPA - Cost Per Acquisition - Cost Per Result - Cost Per (Enter you goal). 18. ROAS - Return On Ad Spend - The money you receive derived from spending on advertising. 19. PCV - Purchase Conversion Value - The revenue seen from Facebook specific purchases.

THE CUSTOMER JOURNEY Zooming out, here are some key terms to remember that are specific to your customer journey in a more holistic view... 20. Prospecting - (Top of Funnel Ads) - This is where all your first interactions with consumers will be. We’ll spend at least 60% of our time and budget in the Prospecting phase. 21. Re-engagement - (Middle of Funnel Ads) - This is where the consumers who are just learning about you are living. They may have clicked one of your ads, engaged with your content, or even visited your site, but they maybe haven’t bought yet. But are getting warmer! 22. Remarketing - (Bottom of Funnel Ads) - This is where your hottest leads / customers are just waiting for you to give them the final push. It’s also where you can be more direct with your ad copy, offers and CTAs.

TESTING TERMS “Always be testing.” This is a huge part of Facebook Ads success. Here are some key terms you need to know around types of testing…

23. DCT / DCO - Dynamic Creative Testing. Facebook’s solution to multivariate testing within campaigns. 24. AIT - Asset Iteration Testing. An isolated test for your newest creative that is more focused on manual campaign, adset, ad build.

GENERAL BUSINESS TERMS As you know by now, Facebook is NOT a “magic bullet” that will solve all your problems. It’s a powerful digital marketing tool that will allow you to amplify a great product and find the most cost-effective leads and conversions. That being said, you need to understand a few key metrics in your business, before even jumping into Facebook… 25. AOV - Average Order Value - The average amount spent per purchase. 26. LTV - Lifetime Value - The total value spent across a customer’s life. 27. CAC - Cost of Acquiring a Customer - The amount of dollars spent to convince a consumer to buy your product. 28. Margin - What percentage of sales has turned into profits. The higher your profit margin, the more you can afford to spend in order to profitably run ads on Facebook.

LET’S SIMPLIFY IT Here are the TOP 3 most important things from this list that you should really focus on understanding right now, before you get started. (We know this is a lot of info and Facebook can be overwhelming, so we want to break it down as simply as possible.) ●

Key Terms to Focus On: ○ ○ ○

OUTBOUND CLICKS are more accurate than LINK CLICKS ALL. UNIQUE ACTIONS (clicks, page views, add to cart etc.) are more accurate than generic actions. THE FUNNEL ITSELF: Prospecting (Top), Re-Engagement (Middle), and Remarketing (Bottom). Make sure you understand this customer journey! We’ll get into this more throughout the course....