How We Cut our Client’s Cost Per Lead 52% With Facebook Ads

Situation:

A professional services firm was having difficulty generating leads at an affordable price.  The majority of their spend had been on Facebook, generating leads at a $21 CPL.  They were using basic targeting methods to drive clicks to a lead form on their website.  Their link click rate was below 5% and their conversion rate on the landing page was less than 2.5%.

The other issue is the company has multiple service offerings, however they were running generic ads that cover all services.

Challenge:

Based on the close rate of the sales team and their margins the client could not justify a $21 CPL.  They needed a significant reduction in CPL in order to grow profitably.

The client's website was also in transition and we were not authorized to create a custom landing page to increase conversion rate.  This meant we were limited in our ability to optimize conversions and user experience.

Our Approach:

Our research determined that despite the poor performance Facebook was indeed the right channel to find their ideal clients at a low CPL.  We just needed to create better conversion focused campaigns and improve the targeting.

Without the approval to build new, customized landing pages, we opted to run lead form ads.  Lead form ads do not require the user to leave Facebook to become a lead.  This eliminates an unnecessary click and removes the client's landing page from the equation.  The other benefit is Facebook autofills most of the information needed in the lead form creating less work for the prospective client.

We built and launched three campaigns in January 2019.  Each campaign had five different ad variations.  The targeting and creative for each campaign was differentiated based on the specific service offering.  We also adjusted the geographies and timing of delivery to capitalize on top performing markets and times with the best results.

Results:

After launching our new campaigns in January we saw an immediate increase in leads while maintaining the same spend level.  We were able to drop the client's CPL 52% while maintaining the quality of the leads.  Data showed no significant change in close rate on the leads we generated vs the leads generated on prior efforts.

Summary:

When running lead generation campaigns it is important that each audience is segmented appropriately.  This allows for the ads to resonate with the specific target and offering.  However, the ads are just half of the battle.  Once the target has engaged with an ad we need to ensure they take our desired action.  In order to achieve that it needs to be as easy as possible for them.  Facebook lead forms are a great, easy way for potential customers to fill out a lead form with minimal effort.  This is a great option especially if the landing page experience is not optimized for conversions or you have technical limitations making it more difficult to edit your site or create new landing pages.

Contact us today to see how we can get you more leads

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