Facebook is one of the best advertising channels for lead generation. With a potential reach of 2.8 Billion individuals, it offers a pool of potential leads. Businesses, especially in the Edtech and Fintech industries, should get on with the channel.
With a Facebook ad manager, you can advertise not just on Facebook but on Instagram as well. This gives an extra push to lead generation. With that said, let’s move ahead to an in-depth explanation of Facebook ads. Let’s get going!
Facebook Ad - Descriptive Overview
Facebook ads are an excellent channel for lead generation. It’s a paid method of generating leads by launching visual ads. For any business to expand on the internet, digital advertising is crucial. Facebook ads are marketers’ first choice when it comes to digital ads.
Facebook ad manager is the tool that takes care of the whole ad management process. You can launch and monitor your Facebook ad from the Facebook ad manager. But before getting started with Facebook ad managers, it’s important to be aware of Facebook ad elements.
Elements of Facebook Ad
When it comes to Facebook ads, it’s standing on pillars of various elements. To keep things less complex, let’s talk about the most important elements of Facebook ads. Here’s the list of such elements:
The first and foremost element of a Facebook ad is the objective. What’s the objective of your campaign? This is the question that will decide if you will be getting online exploration or not. Sit back and decide why you want to launch your Facebook ad. That’s the same question the Facebook manager will ask you when launching your campaign. Better to have the answer beforehand. You can select any of the objectives from below:
- Awareness: Shows your ad to people who are most likely to remember them. Good for - Reach, Awareness, Video Views, and store location awareness.
- Traffic: Use this objective to drive traffic to your websites, apps, or landing pages. Good for - Link clicks, Landing page views, Messenger, WhatsApp, and calls.
- Engagement: Use this objective to engage with your target audience by getting more messages, video views, post engagement, page likes, or event responses.
- Leads: Use to collect contact details from your prospects. Good for - Instant forms, Messenger, conversions (sign up using landing pages), and calls.
- App promotion: Use this objective to increase the number of installations of your app and its usage.
- Sales: Use this objective to find buyers for your product or service on Facebook and Instagram.
Selection of Ad Type
There are various forms of media that you can use for Facebook ads. What you should be using totally depends upon customer preference. Research your target audience and their taste in ads. What type of ads do they prefer? Is it video ads, images, or textual ads? If you advertise your product or service through customer-preferred media type, the chances of them engaging and converting increase. Also, different ad type is preferred to target audience at different funnel level, for instance, a Video ad can be more useful to create awareness, while an image or carousel can be used to generate leads.
Audience targeting is the most important element of Facebook ads. This is also one of those areas of advertising many businesses tend to take for granted. You cannot target any random audience and expect quality leads. For lead generation through Facebook ads, you need to niche down your target audience. Be as specific as possible when selecting the target audience. For example, you have an online coaching institute. Instead of targeting all users in the age group 18 - 20. Target those in the age group with an interest in online courses for the said subject, completed or undergoing a certain education level, and many more, so that you do not waste your money on the audience which is not your target audience and mostly will not enroll.
Tracking and Optimization
Mistakes are an important part of marketing practices. They help you better your campaigns and generate more leads. But most businesses are not interested in learning from their mistakes. And it’s a huge mistake in itself. Once your Facebook ad is launched, track its performance. Performance tracking will help you discover areas of improvement. When you identify them, work on campaign optimization. It will help you improve ad performance, resulting in more leads.
Commonly Faced Issues in Facebook Ad Launch
The biggest problem that businesses have seen making is focusing on getting minimum CPL. But here’s the thing, there’s a huge difference between quantity and quality lead generation. You cannot just focus on any one of them and expect greater results. You have to keep them together in concentration if you want to generate highly convertible leads. Let’s explain the concept of quality VS quality leads with an example.
Let’s suppose there are two marketers, A and B. Marketer A generates 100 leads at ₹3/lead, and Marketer B generates 30 leads at ₹15/leads. However, out of 100 leads generated by Marketer A, only 10 are quality leads. Similarly, out of 50 leads generated by marketers, only 30 are quality leads.
Campaign of Marketer 1:
Total cost= 3*100=300
Quality leads =10
Actual cost per lead= 300/10=30
Campaign of Marketer 2:
Total cost: 15*50=750
Actual cost per lead=750/30=25 (better than the previous one)
Not focusing on the quality of lead not only has an impact on CPL but has a larger impact on organizational processes. The other resources of businesses like work hours, are wasted, for example. Moreover, we cannot ignore the amount of time the sales team will spend on calling/communicating with the leads. All of these will go to waste if you just focus on generating leads from a quantity perspective. Quality and quantity should go hand in hand during lead generation.
How To Tackle The Challenges Faced By Marketers
The biggest reason for low-quality leads is incorrect targeting. If you target a broader audience, for example, your lead quality will automatically come down. We should know how to keep a balance between all the metrics of lead generation. Here are some things you should consider to generate quality leads:
There are two types of audience selection choices. The first one is to target the audience from a broader perspective. The second one is detailed targeting of the audience. Now, most businesses are seen to follow the first targeting option, which is broader. But instead of selecting a broader audience, you should go for a detailed one. The reason is the quality of leads. A detailed target audience will help generate more quality leads than targeting a broader audience. And as said above, you should focus on the quality of leads rather than the quantity of leads.
When you are creating a Facebook Ad campaign, the placement of your ad is an important part of it. Now in Facebook ad manager, you get two options for the placement of your ad. The first is automatic placement, and the second one is manual placement. In automatic placement, your ad will be placed by Facebook itself. The platform will place your ad in the most engaging areas, such as reels, stories, etc. In the manual placement of ads, you are the sole decision maker of where your ad should be placed. You get to choose from a variety of options that range from Instagram stories to generic Facebook posts.
Call To Action (CTA)
It’s a tagline on the engagement button which encourages leads to interact with your ad. CTA is an important part of a Facebook ad. If you want to generate quality leads from your ad, you need to have a proper CTA. Depending upon your ad’s primary goal, the CTA should be properly designed and placed. It is proven that with a quality CTA combined with an engaging Facebook ad, the click-through rate of an ad increases exceptionally. Therefore, if you want to get results out of your ad investment, make sure to keep this CTA in mind during campaign creation.
Facebook Ad Checklist - Get All The Ticks
Facebook is a very powerful tool to promote your business, big or small. Facebook offers the possibility to connect with all age categories around the world. With an average time-spend of 50 minutes/day, Facebook is an exceptional platform to run ads. Here’s a checklist for a successful ad campaign:
Set An Account Spending Limit
Especially if you are going to test with Facebook for the first time, it is wise to set an account spending limit. Sometimes your advertising budget flies through the roof rather quickly, especially if you set up multiple ads at the same time. It is sometimes difficult to keep an overview of how much you have already spent and which advertisements are still running.
You can specify a duration and maximum daily budget per ad, but either way, a general account spending limit prevents unwanted spending. Moreover, you can adjust your budget at any time. Make sure you adjust it in time when you set up a new campaign because Facebook pauses all your campaigns when your account spending limit is reached.
Don’t Use Auto Ad Options
Facebook is trying to get you advertising by promoting its simple advertising capabilities. These are the “Boost Post” and “Boost Page” buttons. Avoid using these options. These buttons are so general that they will not yield much results. Rather, spend some time setting up good, tailored ads and an audience that will be really interested in your ads.
Test Different Call-to-Actions
When you start advertising on Facebook, there are countless possibilities to set up an advertisement. We will deal with this later. But even when creating an advertisement, the possibilities are endless. The call-to-action buttons affect the CTR. We cannot say exactly which word generates the most conversion, but it is certain that each button produces different figures.
Of course, the choice depends on what you are going to advertise for. But be creative and the visitor first goes to a page for more information. If the visitor is interested, he or she automatically buys a product.
The Right Bid
Are you confused between CPC or CPM? As a rule of thumb, keep in mind that for targeted audiences of less than 100,000 people, CPC (cost per click) is usually the most interesting metric. If you target a much larger target group, CPM (cost per mile) can be the most ideal option. In addition, it also depends on which campaign objective you choose.
Reach Your Existing Customers
When advertising on Facebook, you can very specifically determine your target audience. So specific, in fact, that one special customer sees your message, for example on their birthday. Want to reach more customers but don’t know if you can find them on Facebook? Then you can create your own target group list on Facebook based on email addresses.
You can also easily import them from, for example, MailChimp. (In your ads manager, click “Ad tools” in the top left, then click “Audiences.” Click “Create audience” here and choose Custom Audience.) If they can be linked to user accounts on Facebook, you can reach them with your ads (although you’ll mostly have business email addresses and people often use a personal email address on Facebook, you might still be able to reach 25-40% of your list).
Facebook ads are an exceptional channel for lead generation. In today’s blog, we have learned almost everything there about lead generation through Facebook ads. For better results with your ad campaign, try investing in a CRM. It will help you get the most out of your marketing efforts. With a CRM like Corefactors AI CRM, you can get better leads. So what are you waiting for now? Get yourself a CRM now!