Getting new customers is critical to the long-term success of your business, but it all comes at a price. When you compare Facebook Ads’ cost per lead (CPL) to your overall business CPL, you can instantly see how much you’re paying to get each lead and analyse the data.
Once your reporting dashboard confirms that you’re paying more than the usual for each lead, however, you might want to consider cutting your CPL. Here are some simple techniques you can do to cut down your Facebook Ads’ cost per lead:
Technique #1: Make a Campaign Goal
Whenever you produce fresh advertising for your Facebook ad campaign, you must decide on a target market for your ads.
You wish to have a significant influence on the advertising algorithm while using advertisements. To improve brand awareness, tet users to click on Facebook links, and close sales, you must create goals that will reach many people.
So long as you adhere to the specific goals, you may utilise any of these strategies to conduct your Facebook advertisements. It is reasonable to have your main aim to improve lead quality and lower the overall cost if that is your goal.
Technique #2: Target Your Audience
You should choose who you want to reach with your Facebook campaign. This goes farther than just adding the interests of your target lead and doubles down on the age of your lead.
It’s possible to achieve this in two different ways. The first approach is to find your “lookalike audience” or a list of Facebook users who resemble your loyal customers. Your lead-only marketing on Facebook ensures you have a higher-quality lookalike audience for your lead advertising.
The second approach is to identify your “retargeted audience.” People who have visited your website and liked your Facebook Page or viewed a video are probably part of this audience. A unique approach to decreasing costs and boosting your volume is using an engaged audience from lead advertising.
Technique #3: Alleviate Pain Points
Sit down with your sales team and do a full assessment of your ideal customer profile. This is an opportunity to converse with client pain points such as high cost, accessibility, and lack of user testimonials in this process, among many others.
When you discover where your target customers are struggling, you’ll be able to provide effective solutions for them. You may do this by using a specific language within your Facebook ad content that may qualify clicks or disqualify useless clicks, cutting down on CPL.
Technique #4: Do a Giveaway
Unless people are genuinely interested in what you have to say or solve a problem that is important to them, they are unlikely to complete a form.
You can inspire interest by offering rewards and incentives, like the opportunity to earn a giveaway or sweepstakes prize, a free product, and other promotional discounts on their next purchase. After all, nobody can resist a good giveaway.
Technique #5: Do Split-tests
Reducing your CPL for Facebook Ads is most easily accomplished by regularly performing A/B testing. Split testing, from ad copy to audience targeting, may be utilised for any purpose.
The more questions and activities they need to answer, the less likely they will take as leads (which increases your cost per lead). Test your Facebook campaigns to find out whether the impact is the same.
Cutting down on your Facebook Ads’ cost per lead (CPL) is a great way to become more efficient and streamlined. With a space like your business website and a social media platform like Facebook, take advantage of the benefits you can get in partnering them up. As you learn the ins and outs of the digital world, you can then be cost-efficient, have a high online presence, and generate business profits.
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