These are the Meta Ads Manager metrics I check for every client, but first, a story. A while ago I was looking at a private school client’s Google Ads account, and on paper it looked like the ads were barely bringing anyone in. But the school was getting well over 20 enquiries a month. So where were they all coming from?
WhatsApp. A big chunk of their enquiries were coming in by WhatsApp, and none of them were being counted in the ads account at all.
I see versions of this all the time. Another client was convinced their Meta ads weren’t working, and when I checked, their pixel was only recording people landing on the website. It wasn’t recording a single lead. The ads had been working. Nobody could see it.
So when a new client comes to me as a Meta Ads agency in Marbella, I don’t look at the ads first. I look at the tracking. And before we get into which numbers to watch, here’s the honest truth. The numbers in Ads Manager are only as good as your tracking. Get that right first, and the rest of this post will actually mean something.
And the school? Well when I dug into the account, it turned out 123 of the 128 “conversions” Google was reporting weren’t enquiries at all. They were people tapping for directions on Google Maps. Meanwhile the real enquiry form were only showing about 4 leads a month, against well over 20 actual enquiries (most of them coming in on WhatsApp). So Google was busy optimising for map taps.
Once the tracking was cleaned up, I could finally see what was working and fix the rest. Within a month the spend had roughly halved, enquiries went up, and the cost per enquiry dropped from around €626 to €171. Same school, same ads budget ceiling. We were just finally measuring the right thing.
Which metrics matter most in Meta Ads Manager?
The metric that matters most is your cost per result, which for most businesses means cost per lead or cost per purchase. Everything else in Ads Manager is there to explain why that number is going up or down.
I tell clients to think of it like a car dashboard. Cost per lead is your speed, which is the thing you actually care about. CTR, CPM and frequency are the warning lights that tell you why the car is slowing down.
In Ads Manager, the columns I set up for every client are:
- Results and cost per result (leads, purchases or bookings)
- Amount spent
- CPM (cost per 1,000 impressions)
- Link CTR (click-through rate on the link, not “CTR (all)”)
- Frequency
- Hook rate for video ads (more on that below)
You can save this as a custom column preset, so you’re not hunting for it every time you log in.
Is my Meta pixel tracking leads properly?
Check Events Manager. Your pixel should be recording a Lead or Purchase event, not just PageView, and ideally the Conversions API should be connected as well.
That second client I mentioned? Their pixel fired on every page, so it looked healthy at a glance. But it only ever sent PageView. There was no Lead event, so Meta had no idea which people actually enquired, and it couldn’t find more people like them.
So in Events Manager, look for:
- A Lead, Contact or Purchase event firing when someone actually converts
- The Conversions API connected, so you’re not relying on the browser alone (ad blockers and iPhone privacy settings stop a lot of browser tracking)
- Event Match Quality, which tells you how much customer information Meta can match. Higher is better.
And if your enquiries come in by WhatsApp or phone, like my school client, you need a way to count those too. Otherwise you’ll always underestimate what your ads are doing.
What is a good click-through rate on Facebook ads?
A good link click-through rate is one that’s improving on your own previous ads. Benchmarks vary a lot by industry, so compare yourself with yourself first.
What CTR really tells you is whether your ad is interesting enough to click. If people see it and scroll past, the creative or the offer isn’t landing. A low CTR almost always means the picture, the video’s first few seconds or the headline needs changing, not the audience.
Make sure you’re looking at link CTR. “CTR (all)” counts every click, including people tapping to see more text or opening your profile, so it makes your ads look better than they are.
If you want a rough yardstick, the latest WordStream figures put the average link click-through rate for Facebook lead campaigns at about 2.6%. But it varies a lot by industry. Real estate averages around 3.75%, schools and education around 1.9%, and dental clinics just over 1%. So a dentist sitting at 1.2% is doing fine, while an estate agent at the same number has a problem.
My rule of thumb is simple. If an ad’s link CTR is well below its industry average after a week of spending, I change the picture or the first line before I touch anything else.
What does CPM tell me?
CPM is what you pay for 1,000 people to see your ad. If it climbs, you’re either competing harder for attention, your audience is too small, or Meta thinks your ad isn’t very engaging.
CPM naturally goes up in busy seasons. On the Costa del Sol, the run-up to summer gets competitive because every business is fighting for the same holiday crowd, and Black Friday into Christmas is expensive for everyone. So don’t panic over a jump in November. Just expect it, and plan your budget around it.
What is ad frequency and when is it too high?
Frequency is the average number of times one person has seen your ad. When it climbs and your cost per lead climbs with it, people are getting bored of seeing the same thing.
Small local audiences hit high frequency quickly. If you’re only targeting Marbella and Estepona with a modest budget, the same people will see your ad again and again within a few weeks. (Your friends will start mentioning it to you, which is always a fun sign.)
When that happens, don’t just keep spending. Refresh the creative, try a new angle, or widen the audience a little.
What is hook rate for video ads?
Hook rate is the percentage of people who watch the first three seconds of your video. It shows you whether your opening grabs attention, and it’s the first thing I check on any video ad.
It isn’t a default column, so you create it as a custom metric: 3-second video plays divided by impressions. If your hook rate is low, the first second of your video needs work. Start with the most interesting moment, not your logo.
Which Meta Ads Manager metrics should I ignore?
Reach, likes and follower growth on their own don’t pay your bills. They’re nice to see, but they don’t tell you whether your ads made you money.
I’ve lost count of the times someone has proudly shown me a post with thousands of likes and not one enquiry. Engagement can help your ads perform, so I don’t ignore it completely. But if I had to pick between a hundred likes and two booked consultations, I’m picking the consultations every time.
What should I track after the lead comes in?
Track what happens to each lead: did they reply, did they book, did they turn up, did they buy? This is the number that tells you which ads actually make money.
Ads Manager stops at the lead. But a €5 lead that never answers is worth less than a €30 lead who books. So keep a simple record, even a spreadsheet, of where each customer came from. After a couple of months you’ll know your real cost per customer, which is the number that should decide your budget.
What metrics should I track in Google Ads?
In Google Ads, track conversions and cost per conversion first, then your search terms report, Quality Score and impression share.
The search terms report is the one most people never open. It shows you exactly what people typed before they clicked your ad, and it’s where you find the money being wasted on searches that were never going to buy. Add the bad ones as negative keywords every week.
Same rule as Meta, though. If your conversion tracking isn’t set up properly, none of these numbers can be trusted. (If you’re still deciding which platform to use in the first place, I’ve written about that too: Google Ads vs Meta Ads: Which Should I Use for My Business?)
How often should I check my ads?
Check your ads once or twice a week, not every day. Meta needs time to learn who to show your ads to, and changing things daily resets that learning and usually makes results worse.
I know it’s tempting. You’ve just put money in and you want to see what’s happening. But give a new campaign at least a week before you make big decisions, and change one thing at a time so you know what made the difference.
Frequently asked questions
What is the most important metric in Meta Ads Manager?
Cost per result, which for most businesses is cost per lead or cost per purchase. Other metrics like CTR, CPM and frequency help explain why that cost is going up or down.
Why does Ads Manager show fewer leads than I actually got?
Usually because your tracking is incomplete. Your pixel may only be recording page views, the Conversions API may not be connected, or enquiries are arriving by WhatsApp or phone, which Ads Manager can’t see unless you track them separately.
What is the difference between CTR (all) and link CTR?
CTR (all) counts every click on your ad, including people opening your profile or expanding the text. Link CTR only counts clicks through to your website or form, so it’s the more honest measure of interest.
What frequency is too high on Facebook ads?
There’s no single number, but when frequency rises and your cost per lead rises with it, your audience is tired of the ad. Refresh the creative or widen the audience at that point.
How often should I change my Facebook ads?
Check performance once or twice a week and avoid daily changes, which reset Meta’s learning. Give a new campaign at least a week before making big decisions, and refresh creative when frequency and costs start climbing.
When should I hire a Meta Ads agency in Marbella?
When your ads are spending money and you can’t tell whether they’re working, or you simply don’t have time to check them every week. A good Meta Ads agency in Marbella will fix your tracking first, then manage the numbers in this post for you.
Looking at your Ads Manager and not sure what it’s telling you? Or would you rather a Meta Ads agency in Marbella kept an eye on it for you? Drop me a message on WhatsApp on +34 602 47 23 87. I’ll have a look and tell you honestly whether your ads are working, or whether it’s your tracking that isn’t.
