BP,
You can follow best practices, but you can't measure... zero
Go ahead, corner ANY FB/Social Media guru and ask them to show ROI. Each and every time the reply is the same. There is silence, followed by a clearing of the throat, 3-5 seconds of mumbling before they jump back on their Social Media unicorn and talk about some SM stats like how older adults is the fastest growing category (or some other bullsh*t stat) and why I'm not getting it.
Not all businesses are treated equal by the FB audience. I friend'd my Realtor, then dumped her like a stone after yet another home buyers tip came thru. Compare that to the Electric Bike Retailer that I follow. Fresh products and ideas in a very unique business keep my interest piqued.
What's that leave for us?
IMO, FB (as an ad medium) has all the hallmarks of a branding campaign, rather like a billboard on the highway, where no sales can be directly connected to it, but, we all know its there.
Problem: FB is NOT THE HIGHWAY. It's not radio, not direct mail, not TV, these are "broadcast media" outlets. HIPPOs often want to play in Social Media and think broadcast thoughts when they commit to FB.
FB has no equal, but show me anyone that friends an Automobile Dealer and I'll show you a lonely fella.
