One of the benefits of Dynamic Creative Ads is that they allow you to test a bunch of different creatives, headlines, and text copy and find out which is performing best.
Once your dynamic creative ads have been running, you will start to see some performing better than others. Facebook automatically increases your budget towards the top performing ads but you can learn a lot from by understanding which messages are resonating best with your audience.
You will find each individual ads' results inside the Dynamic Creative Ad by clicking on the ad set. All the ad options will become visible like in the example image below. You can sort them by Image, Text, Headline, or Description.
Below we define the most key metric for checking the performance of your Dynamic Creative Ads and why it's important.
CTR: One big indicator of performance is a high Click through Rate (frequently referred to as CTR). This metric is recorded for the overall campaign as well as for each individual ad, and allows you to see the rate at which people click on the links in each ad. The ad with the highest CTR is generating the most interest.
CTR in your Top and Middle funnel is essential for generating product views and ad to carts. Getting your potential customers to be intrigued enough to click your ads and learn more about you is an important first step, and requires different messaging than what you can use once you have demonstrated our value and built trust.
Product View: Product views are another important metric to compare, as this shows which ads and texts are generating interest in your products.
Add to Cart: You should also compare your Add to Cart results.
Quick Note About ROAS: Return On Ad Spend is the metric that shows which ads are directly contributing to sales. Although a high ROAS is always great, for your Top of funnel campaign, ads with a high CTR, lots of Product Views, or that is driving a lot of Add to Cart events, are extremely valuable.
Each campaign serves a purpose and funnels your potential customers towards their eventual purchase. Your Top of the Funnel campaign should drive engagement and product views, so you don't need to worry if your ROAS is not high.