5 Tips on how to reduce cost per lead with Facebook ads
It’s no secret that the price to pay for Facebook ads gets higher and higher from one year to another. When you could get a link click some time ago for mere few cents, now you could easily pay DOLLAR(S) to get the same result.
Of course, when you have so many more companies diving into your business on daily basis, why wouldn’t you want to increase the price if it doesn’t even hurt the demand? I guess, that’s what Facebook thinks.
In light of this, what should you do to stay profitable when generating leads, with ads prices constantly going up?
1. Optimize your algorithm inside the Fb ads campaign.
While this seems an obvious solution, it is not that easy to get. The FIRST question you need to ask yourself when optimizing is “How does Facebook algorithm ACTUALLY work?”
– Put it simple – the Facebook machine learning does EXACTLY what you make them do. So make sure you understand all the presets that you are choosing.
So, when you are interested in LEAD GENERATION, do not run for cheaper link clicks or higher conversion rate – pick “Lead Generation” SPECIFICALLY as your objective.
– Do not be afraid to spend a bit more while testing – Facebook needs data to optimize. For example, if you choose a 1-day window for optimization, make sure that you get at least 10 leads per day. If not – increase your budget.
– Use broad audiences – again, Facebook needs data for optimizing. Try to get audiences that have at least 1m people inside. For instance, you are advertising in New Zealand and want to use your lookalike audiences, but 1% has mere 200k people inside. Use 7-8% lookalikes here to get better results.
– Find the BEST VALUE of your product for manual bidding – think about how much you can afford to spend on the lead AT MOST and bid this price. This will help you get on top comparing to your competitors.
2. Look for your most successful audience based on DEMOGRAPHICS.
Hopefully, you already have enough data for analysis, and you are not having a blank new account. The more data you gather – the better. That is why we recommend to NEVER DELETE any of your ads/adsets/campaigns unless you have reached the limit.
So, based on your data, you can easily find out which demographic group performs BEST for you and them just concentrate on this audience.
Do not forget to check the “View Chart” window – to get the data about the demographic group that you can narrow your targeting to.
3. Make your landing page SIMPLE.
Based on our experience, you LOSE most of your REALLY potential buyers somewhere between your landing and the checkout pages.
That is why, your lead generation will depend on how simple, easy-to-use, and straightforward your landing page is. After all, this is whyClickfunnels is KILLING it right now!
Some tips on how to make your landing page better:
– MOST ESSENTIAL info must be on the top of your page – your viewer does not have to scroll it down to understand what they need to do;
– Have ONLY ONE call-to-action on the landing page – your goal is to get a client’s email, so ask them to enter their email only. Do not ask for their name, business affiliation, or favorite food;
– Make your copy SIMPLE – again, you want to client to not be overloaded with information. Give them a few headlines, some bullet points (everyone loves bullet points), and enough blank space. ABSOLUTELY avoid large blocks of texts, at least on top of your page.
– Put focus on the PRICE – email form box. Make sure that your viewer keeps an eye contact with the field that makes them give you their email.
4. Use Post/Page Engagement Audiences.
Not using custom/lookalike audiences for a Fb ads manager is a sin. Not using engagement audiences is a sin for a manager who needs to generate more leads.
If you are using lead forms, then look for people who opened them but did not send. If you have a website, check those who visited your lead form page. After all, you ABSOLUTELY MUST check those who engaged with your BR or IG posts or pages.
MOREOVER, once you’ve gathered enough data about your audiences and they are large enough, create lookalikes for them – for instance – LLA for website traffic or LLA for post engagement. Repeatedly, these audiences have been showing best results for us in terms of lead generation.
5. Use Facebook Messenger Chatbots.
This is by far probably the most UNIQUE feature we have discovered for our clients in terms of BOOSTING lead generation results.
Chatbots are in great trend right now, especially since Facebook Messenger is getting BIG in online marketing. If you are not using one – go get it! Some of the best services that we recommend are ManyChat or MobileMonkey.
Why is it good to use chatbots? People are social creatures, and they like to communicate – even with the machine – before performing a call-to-action.
To Wrap It Up
So, among hundreds of other tips you mind find easily on the Internet, what we definitely recommend you for CHEAPER leads is:
1. Work on your campaigns’ optimization more.
2. Use the demographic data to its fullest.
3. Make a simple straightforward landing page.
4. Use engagement custom and lookalike audiences.
5. Use Messenger chatbots.
So that would be it for this time. Yet, as always, we would like to hear your feedback as this is what gives even MORE value to our articles.
Do you agree with our 5 tips or are you having some other ‘tricks’ up your sleeve? Yes? GREAT! Let us know about them!
Let’s share our ideas and boost our sales together!