Meta provides a goldmine of performance data, but knowing what to track, how to interpret it, and where the blind spots are is what separates great campaigns from wasted spend.

This chapter breaks down the core metrics, attribution settings, and tracking methods you need to measure Meta Ads (Facebook Ads) like a pro.

1. The Metrics That Actually Matter

There are hundreds of data points in Meta Ads Manager (Facebook Ads Manager). But only a handful consistently tie back to business outcomes.

Key Performance Metrics to Track:

Metric	What It Tells You
CTR (Click-Through Rate)	Are people engaging with your ad at all? Low CTR = creative or targeting mismatch.
CPL (Cost Per Lead)	How efficiently are you collecting leads? High CPL = weak offer or leaky funnel.
ROAS (Return on Ad Spend)	For eComm or direct conversions: Are you making more than you’re spending?
CAC (Customer Acquisition Cost)	What’s the cost to acquire a paying customer? Crucial for B2B/SaaS.
View-Through Conversions	Did someone convert after seeing, but not clicking, your ad? Great for brand-led or retargeting plays.

Pro tip: If you're only tracking clicks, you're missing the bigger picture. Buyers often don’t click, they see your ad, visit later, and convert elsewhere. That’s where attribution comes in.

2. Attribution Models: How Meta Connects the Dots

Attribution is how Meta credits a conversion to an ad. It’s also where most marketers get tripped up.

Let’s say someone sees your ad on Monday, clicks on Tuesday, and converts on Friday. Who gets the credit?

That depends on your attribution window.

Meta’s Attribution Settings:

1-day click: The conversion must happen within 24 hours of clicking the ad
7-day click (default): Meta tracks conversions for up to 7 days after a click
1-day view: Conversion happens within 24 hours of viewing (but not clicking) the ad

When to Use What:

Short sales cycles or impulse products? Use 1-day click for tighter data.
B2B SaaS or high-ticket offers? Stick to 7-day click, your leads won’t convert overnight.
Retargeting or awareness campaigns? Track view-through conversions to see brand impact.

Reminder: Meta will always show you multiple attribution breakdowns. Review both click-through and view-through to get the full picture.

3. Event Tracking: Pixel vs. CAPI (and Why You Need Both)

Meta needs to know what happens after the ad click, and that’s where event tracking comes in.

Option 1: Facebook Pixel

A browser-based tracking tool that fires events (like form submissions, purchases, etc.) from your site.

✅ Easy to install
❌ Can be blocked by browser restrictions, privacy tools, and iOS tracking opt-outs

Option 2: Conversions API (CAPI)

A server-side tracking method that sends the same events, but directly from your server to Meta.

✅ Bypasses browser limitations
✅ More reliable and complete event data
✅ Works better for full-funnel attribution

Best practice: Don’t pick one. Use both Pixel + CAPI for redundancy and better match quality.

4. What a Clean Measurement Setup Looks Like

To measure Meta performance with confidence, make sure your foundation includes:

✅ Facebook Pixel installed across key pages (landing page, thank-you page, demo booked)
✅ CAPI integrated via CRM or GTM server-side
✅ Standard events configured: ViewContent, Lead, Purchase, CompleteRegistration
✅ UTM parameters on all outbound links for GA or multi-touch attribution
✅ Lead quality tracking inside your CRM, not just the number of leads

Recap: Measure What Moves the Business

What You’re Measuring	Tool/Setting	Why It Matters
CTR, CPL, ROAS	Meta Ads Manager	To optimize creative, offers, and targeting
Attribution window	1-day vs 7-day click, view-through	To understand how long buyers take to convert
Conversion tracking	Facebook Pixel + CAPI	To ensure no leads or conversions go uncounted
Downstream metrics	CRM or GA	To track pipeline, CAC, and true business impact

Your ad metrics are only as good as your attribution. Track beyond the click. Sync with your CRM. And always ask: Are we measuring what actually matters to revenue?