Could your business use a steady source of affordable leads? Obviously the answer is most likely yes, that’s what we’re all trying to get. You may have been trying to optimize your ads (targeting, copy, settings, etc) or your landing page from a CRO perspective, but is there anything else you can do?
Doing what you can to further improve your ad strategy and your landing pages is absolutely something you should do, it’s going to be seriously important to your continued success - BUT testing this process against Lead Ads and evaluating the optimal journey to give leads you capture from FB Lead Ads can be just as useful. We’re going to talk about both of these, but will start today with just testing Lead Ads against your website-driving ads.
When you’re running Facebook ads (or other channels, but let’s focus on FB) you’ll have a roughly 1% - 2% click-through rate, then about the same lead conversion rate on your website. Let’s say you spent $1,000 and generated 100,000 impressions which would translate into 1,000 clicks (1%) and then roughly 10 conversions (1%). That lead cost may work for your business, but what if we could run a test to eliminate one of those steps? If you are tracking your cost per lead through your website it should be a simple process to run this test.
Create your Facebook Lead Ads campaign and split your ad budget between Lead Ads and website driving ads, paying close attention to the cost per conversion for each source during the testing period. This by itself is an interesting test, but taking it one step further we can evaluate the quality of the new source (lead ads) and call this an effective cost-per-lead. Generally I expect Lead Ads driven leads to be lower in quality because the threshold for action, the disruption to someone’s routine is less (they don’t have to leave FB) so these will often be higher funnel leads. If you’re properly measuring the conversion rate from lead to sale focus on the cost per sale from FB Lead Ads leads vs website leads. This is how you close the loop and understand the value of Lead Ads, from here we can take a look at improving the Lead Ads journey and understanding what part Lead Ads should play in your client acquisition.