July 19, 2019
Take Your ABM Program from a Pretty Acronym to a Revenue Center
Facebook is often used as a brand awareness channel intended to fill the top of the funnel and not always as a source of direct conversions. However, it’s possible to generate leads for your business at an efficient cost by using Facebook lead generation ads.
Lead ads were released to give advertisers a more efficient way to gather names, emails, phone numbers and other information about potential customers through Facebook.
Facebook Lead Gen Ads can be an efficient way to generate leads for your business.
While the ad type can look like a normal page post ad, video ad or carousel, it doesn’t drive users to your landing page after they click. Instead, it opens a lead form with pre-filled information about the user that they can click to submit to you. You can choose the fields you want to include in the form, such as name, email, phone number, etc. You also have the option to create custom fields, but those will not auto fill with information.
There are multiple types of business that would benefit from using lead ads. While Facebook is generally considered a B2C platform, B2B companies can use lead ads to drive sales by gathering information on potential buyers using Facebook’s in-depth targeting information, such as job title, industry, and region. B2C companies can also leverage lead ads to gather potential customer emails by offering discounts to people who sign up.
Cheaper Cost-Per-Leads – Through testing with clients, we have seen a 50% to 70% decrease in cost-per-lead when comparing a Facebook lead ad to an external landing page with a similar form. We attribute this to:
Facebook auto-filling the form with Facebook user information. This allows the user to just click submit instead of having to fill out all the fields themselves.
Because the forms are submitted on Facebook, the user is more trusting of submitting the information vs. submitting on an unfamiliar website.
Both points increase the form completion rate, which ultimately lowers the cost-per-lead.
Increased Education – When someone clicks on your ad, they can be shown a context card with information about your service or what they will receive after filling out the form. This can lead to more qualified leads, but since the context card represents another step before the form itself, it can sometimes increase the cost-per-lead.
CRM Integration – You can have leads be automatically uploaded to your CRM by using a webhooks integration. This allows you to automate the process of uploading leads instead of having to download a CSV file directly from Facebook.
Lead Quality – Because of the decreased barrier to entry, it is possible to have people fill out lead forms and submit, even if they are not familiar with your product or service. This can be partially solved, however, by adding a context card in front of your lead form. As mentioned above, you should keep in mind that adding this context card will likely decrease your conversion rates and increase your cost-per-lead.
Whether you have a B2B or B2C business, make sure to give Facebook lead ads a try if you are looking to lower your cost-per-lead.