We all dream of cheap leads, don’t we? Facebook can provide these leads if you have the right offer!
Facebook has nearly 2 billion monthly active users, with five new profiles created every second. This would suggest your audience is out there, you just need to find them.
Recent reports would suggest that Facebook advertising is becoming more expensive, cheap leads are a thing of the past. This is a myth!
Let me explain why….
We were presented with the opportunity to work with a new start up business called YO|GO. YO|GO bridges the gap between Yoga teachers and potential clients through a unique app, allowing both parties to meet their objective (finding new yoga clients/finding new yoga classes).
The brief: Run a Facebook advertising campaign promoting a competition giveaway.
Purpose: Acquire an email list that YO|GO could then target with future marketing material.
Target: Yoga enthusiasts, 25-mile radius of London.
Results: We acquired 1345 leads for as little as £0.49 on average.
Here’s why it worked….
- A really good offer. It sounds simple, but so many businesses fail here. You need an offer your audience cannot refuse. You need to work out what value you can give your audience that will increase the likelihood of them completing the desired action. Put yourself in their shoes, would you want to give up your valued time and contact details for 10% off if that only equated to a couple of pounds? No, you wouldn’t. Rule number one, your marketing is only as good as your offer.
- Detailed targeting. You need to ensure you are targeting the right people. Imagine selling a beef burger at a vegetarian convention, it would be stupid, wouldn’t it? You laugh, but so many people do this on Facebook. Don’t fall into this trap, research your target audience and where they hang out. Be creative, how could you target your audience to find those hidden gems?
- Test, test and test again. So many businesses fail to put enough effort into their testing. We should always be looking to see what may work better. There is so much we can test with Facebook advertising and so much insight we can gain from it. Here are a few examples:
- News feed link
- Audience – I.e. gender, age.
Initially, for this campaign, we tested 120 different adverts. You’re probably sat there wondering how on earth we managed to think of 120 different pieces of copy or headlines or even create that many images. Well here’s the trick – using a combination of three headlines, two pieces of copy and five images we created 30 different adverts. We then split tested these across the four-placement options Facebook allows (desktop, mobile & audience network, Instagram and the right-hand column).
As you’ve probably now realised, there’s our 120 variations of the advert; we were now in the driving seat. From this point onwards, it was important to pay close attention to our analytics, what was our data telling us? Fast-forward 24 hours and we had our first useful insights. We noticed the right-hand column was converting at a significantly higher price than the other three placements, therefore, we turned this “adset” off straight away; this removed 30 adverts from our campaign. This valuable data only cost us £24.82 to acquire, some may look at this initial cost as an issue, however, it’s vital to stress that we should look at our marketing as an investment, not a cost.
As we noticed more combinations failing we gradually turned more adverts off, our cost per conversion was gradually decreasing.
It is important to stress a number of things here. Firstly, the initial testing phase only used a budget of £1 per advert, this was enough to gather enough data, without blowing too much of our budget. Secondly, the investment in testing allowed us to convert some leads at ridiculously low prices, therefore, balancing out our initial outlay (some even as low as £0.07!).
Once we had found the winning combinations we were able to scale up accordingly. This allowed us to spend the remainder of the budget on the most successful adverts, serving these in the right place.
The Small Window of Opportunity
Are you currently finding it difficult to maximise the potential of your Facebook advertising? Don’t worry, you’re not the only one, thousands of other businesses are facing the same problems as you every day. My guess is, you’ve read this case study and you’d really like to replicate these fantastic results throughout your business, you just don’t have the time or resources to do so. That’s where we come in. If you’re serious about this and want to get everything up and running as fast as possible, then you might be interested in our Facebook advertising management programme.
Firstly, I want to stress that this isn’t for everyone and we have very strict criteria when it comes to the clients we work with. However, if you have a great product or service and you’re serious about investing in growth and advertising, then we’d love to help. We help small businesses all the way through to large corporations and have a reputation for creating highly successful advertising campaigns.
You’ll be well looked after, with a team of Facebook advertising experts creating, implementing and evaluating every campaign for you. It’s a complete service that gives you the freedom and peace of mind knowing that your campaigns are being managed by one of the UK’s leading Facebook advertising teams.
Our monthly management fees range between £1200 and £5000 per month. If you’re interested in learning more about how we can help, we are currently offering a free strategy session (worth £297) that will show you how can achieve success with Facebook advertising.
If this is something you’re interested in, visit our contact page to arrange a suitable time.
We look forward to working with you in the future.
Founder – Leading Light Media
Author of “The Art Of Attraction Marketing”