The Madgicx Facebook Dashboard gives you a clear overview of your account performance alongside deep insights regarding your KPIs, spending, and ROAS. Think of the dashboard as your advertising cockpit: you can get insights at a glance or dive deeper into specific areas.
Thanks to our Facebook Dashboard, it's incredibly easy to get an overall picture of your account and gain key insights. By checking the Madgicx Facebook Dashboard, you can examine your performance across your whole funnel and shift budgets accordingly.
However, every account is unique, so it's important to analyze the account yourself and see what budget allocation works best for you. For example, if your acquisition reengagement audiences provide significantly better results than your acquisition prospecting audiences, you should allocate more of your budget to reengagement.
The ARR Full-funnel strategy helps you manage your budget effectively by allowing you to devote special attention to each part of it.
All Madgicx tools are designed according to the marketing funnel stages: acquisition, reengagement, retargeting, and retention (ARR). The marketing funnel can give you actionable insights and help you structure your advertising to maximize results.
The ARR funnel is a known marketing method that is used by the most successful agencies in the world. It's proven to help advertisers keep track of their performance and it will help you do the same.
The acquisition funnel stage includes people who haven’t had any experience with your brand. These audiences represent the vast majority of your advertising—although the more you advertise, the more people will recognize your brand.
They are also referred to as ‘cold audiences’ since you approach them without any prior experience.
This stage consists of people who have seen your ads or engaged with your brand before, but have not visited your website. Also called ‘warm audiences,’ these audiences have an impression of your brand so they are more likely to visit your website.
People at this stage have visited your website but have not converted. Your mission is to get them to convert and perform the best call-to-action for you, such as purchasing or becoming leads.
The final stage of the marketing funnel is your retention segment, which consists of people who have already converted. Your goal is to make them convert again. This is the smallest audience within all funnel stages but it also tends to produce the highest return.
The first chart on your Dashboard shows your top KPIs divided by funnel stage—giving you a glance of your account performance.
It's easy to customize your Dashboard and choose KPIs that are relevant to your account. You can change the data time frame in the upper right corner and adjust all the metrics using the drop-down arrows.
Strategy Status Overview allows you to compare your top KPIs and monitor your overall account performance over time. Use the dropdown arrows to see different metrics and customize your preferences.
You can use it to compare two metrics, identify overspending, or analyze scaling over time. For example, tracking metrics such as ROAS and Amount Spent over the last month can give you insights about the ‘sweet spot’ for that funnel stage or what is the optimal way to scale your assets.
Strategy Status Drilldown can help you determine which metrics are driving a change in performance. The three tabs on top let you compare metrics for each funnel stage and gain an in-depth understanding of your strategy.
Last but not least, the Total Revenue segment displays your aggregated revenue for a selected time frame.
Finding profitable audiences is like searching for gold in a gold mine. As you search, you acquire more insights on where the gold is buried. When you find a gold-rich area, you increase your efforts there. Likewise, the ARR strategy allows you to ‘map’ your audiences and quickly find golden opportunities.
Our funnel strategy divides audiences into acquisition, retargeting, and retention. Keep in mind that each of these segments behave differently and thus require unique attention.
Madgicx provides you with a business impact strategy that a Facebook agency would spend a few days on and charge high rates for maintaining. Our goal is to do the same without compromising too much of your monthly budget.
The goal of the funnel is to reach as many new customers as possible and direct them through the funnel stages to convert.
Acquisition is divided into two groups: reengagement and prospecting lookalike audiences (LLA).
The best strategy is to test both types of acquisition so you can easily discover winning acquisition ad sets and begin optimizing.
Acquisition prospecting audiences are made up of people who don't know your brand at all. Your acquisition prospecting strategy should revolve around attracting new traffic to reach people who don't know about you.
We've created proven acquisition audiences for you that 'look like' your best-performing audiences. To do this, we use the power of our AI eRFM Module, which stands for Recency, Frequency, and Monetary Value. If you still don't have an existing audience, try creating an interest targeting audience using our Audience Studio.
Note: Madgicx automatically excludes any recent visitors or purchasers from your acquisition audiences:
- Website visitors from the last 30 days
- Purchasers from the last 180 days
Reengagement audiences target people who have seen your videos or engaged with your ads, but haven't visited your website or purchased from you. You want to reengage with those users who showed interest and drive them to your website.
These audiences include people who have visited your website but didn't convert. With this segment, you can retarget recent visitors who have spent time browsing your website. They differ by engagement and intent levels, since people who show a higher intent are more likely to convert.
Remember: You should create different creatives for these audiences since they've already engaged with you and are less likely to respond to seeing the same content again.
Retention is where you can turn current customers into loyal customers for life. Here you have the option to select audiences such as those who have made a purchase in the last 10 days, those who have purchased specific products, and more.
Retention is usually looked over by a lot of advertisers, but this is a mistake. If you're not thinking of Customer Lifetime Value you're missing out on a very essential part of the funnel. Also, you can apply your retention insights to your acquisition strategy by building a lookalike audience of these customers.
With Madgicx, you can apply this ARR method to really understand where your traffic on Facebook is coming from. This way, you can build on your existing strategy and begin scaling effortlessly across your entire funnel.
As you can see in the diagram below, the majority of our budget funnels from Acquisition to Retargeting to Retention. This is because you want to reach new potential customers first and foremost, and the only way to do that is through Acquisition.
As a general rule, we recommend allotting the majority of your budget—80%—to acquisition. Since Acquisition audiences are the largest, this is where we find new customers and drive them to your site.
Next, we suggest allocating about 15% of your budget to both Acquisition Reengagement and Retargeting. Finally, we recommend allocating approximately 5% of your budget to Retention. Retention is critical since you want to stay relevant to your customers. However, since this is the most narrow audience within the funnel, it requires the smallest budget. While we want to stay in contact with our customers, we don't want to spend more on retention than we would on acquiring new customers.
Madgicx takes the Dashboard data straight from Facebook's API and it's based on your ad account.
The Dashboard can only show your performance over a period of 3 days and up. To see today’s analytics, you should manually pick a date range that includes today's date.
Time frames of Last X Days do not include the same day. To see today's data, try to manually pick a time frame.
In Madgicx we’ve renamed this KPI as simply Revenue. To find it, just search for Revenue in the metrics drop-down menu.