What metrics should we monitor to evaluate the performance of different targeting options?

When evaluating the performance of different targeting options in your Facebook advertising campaigns, it's important to monitor a variety of metrics to gain insights into how well each option is performing. Here are key metrics to consider:

1. **Click-Through Rate (CTR)**: CTR indicates the percentage of people who clicked on your ad after seeing it. A higher CTR generally suggests that your ad is relevant and engaging to your target audience.

2. **Conversion Rate**: Conversion rate measures the percentage of users who completed a desired action (such as making a purchase or signing up) after clicking on your ad. It helps assess how effectively your targeting drives valuable actions.

3. **Cost per Conversion**: This metric calculates the average cost you incur for each conversion (e.g., purchase, sign-up). It's essential for understanding the efficiency of your targeting in relation to your budget.

4. **Return on Ad Spend (ROAS)**: ROAS measures the revenue generated for every dollar spent on advertising. It helps determine the profitability of your campaigns and which targeting options contribute most to revenue.

5. **Cost per Click (CPC)**: CPC indicates the average cost you pay each time someone clicks on your ad. It's influenced by your targeting options and can help assess the efficiency of your ad spend.

6. **Impression Share**: This metric shows the percentage of times your ad was shown out of the total available impressions. It provides insights into how well your targeting options reach your intended audience.

7. **Frequency**: Frequency counts how often your ad is shown to the same person. Monitoring frequency helps prevent ad fatigue and ensures your targeting is reaching a broad enough audience.

8. **Engagement Metrics**: Depending on your campaign goals, monitor metrics like likes, shares, comments, and video views. These metrics indicate how well your ad resonates with your target audience.

9. **Audience Size and Reach**: Evaluate the size of your targeted audience and the reach of your ads. A balance between audience size (not too broad or too narrow) and reach (how many unique users see your ad) is crucial for effective targeting.

10. **Ad Relevance Score (if applicable)**: Facebook provides an ad relevance score that rates how well your ad is expected to perform based on its relevance to your audience. A higher score often correlates with better performance.

11. **Lifetime Value (LTV)**: For campaigns focused on long-term customer relationships, monitor LTV to understand the value generated by customers acquired through different targeting options.

When evaluating targeting options, compare these metrics across different audience segments, demographics, interests, behaviors, and custom audiences to identify which options are driving the best results. Regularly analyze and optimize your targeting strategy based on these insights to improve the effectiveness and efficiency of your Facebook advertising campaigns.