How do you run a successful lead generation campaign on a small budget? Usually, startups and smaller companies don’t have the budget to run expensive ads. Let’s look at a few types of ads, their cost, and how you can fire up your campaign on a smaller budget.
This is the most common type of ad used for a lead generation campaign. In her article, Helen Holovach stated that “72% of customers prefer email as their prior communication channel.”
A successful email marketing campaign has an ROI of 42:1, that is, a $42 return for every $1 spent. The basic need is good content which would cost $250-$2000 per email. Then comes graphic design, which would set you back another $65-$75 per hour. Finally, we factor in the cost of email management in the range of $28-$38 per hour.
According to Helen Holovach, influencer marketing is first in lead generation trends in 2020. Influencers depend on the trust and relationship they have with their followers. More followers mean better chances of success which also means a higher price per post.
According to Medium, 94% of marketers use Facebook. As per Facebook, it has 2.50 billion monthly active users. Across all industries, the average cost-per-click (CPC) and cost-per-action (CPA) are $1.72 and $18.68 respectively. Facebook ads are among the cheapest forms of an ad.
Facebook ads can be profitable and can boost your lead generation campaign. Let’s see how we can optimize Facebook ads for maximum performance.
“It’s important to be where your audience of potential customers is today, and where they might be tomorrow.” —Andrew Delaney, Senior Manager of Social Media, HubSpot
Imagine showing up at a dance party in soccer shoes. Would you be able to dance? No way! You have to put proper shoes on to be able to dance.
Likewise, before you start designing the ad, you have to identify your marketing goal. In this case, the goal is to boost a lead generation campaign.
Facebook has three objectives to choose from: Awareness, Consideration, and Conversion.
In this case, Consideration is the desired objective. Under this objective, you can choose lead generation. This is where your target audience engages with the products and services you offer. You could offer incentives like a webinar or an eBook to attract your audience to take the desired action.
For lead generation, Facebook allows you to include contact forms with your ads. Thus, you can request a telephone number and email address from your audience.
Using the Facebook pixel will help you get the most out of your ads. For your ads to be successful, you need to track the conversion events you desire. Thus, you have to implement the Facebook pixel on your website to efficiently target, optimize and measure your lead ad campaign.
For example, an eCommerce business can stay on top of its lead generation campaign by using the Facebook pixel. It tracks events like search, subscribe, and add to wish list.
Here’s how you can implement the Facebook pixel on your website.
“Every trackable interaction creates a data-point, and every data-point tells a piece of the customer’s story.”—Paul Roetzer, Founder & CEO, PR 20/20
Facebook offers a host of ad formats. But, for a successful lead generation campaign, you’ll need a lead generation ad. Video ads, image ads, and carousel ads are used for lead generation. Let’s look at each ad type.
Video ads are great when it comes to capturing your audience’s attention. These ads are entertaining and suck the audience right in. They’re a great way to get your message across quickly. There are many ways these ads can feature. For example, they can play in-stream when your audience is watching a video on Facebook. They can also feature in your audience’s Facebook feed.
Image ads help increase awareness about you and your products or services. They are easy and quick to create. Coupled with good copy, it can boost your ad.
Carousel ads can feature across different platforms. They’re versatile and can show up to 10 images in a single ad. You can use them to feature your product or provide details about any of your products. These ads are great when it comes to telling a story about your brand or your product.
Which pizza should I order for the kids’ Halloween party: the thin crust or the regular crust? Hmmm...I’ll order one of each tonight to see which one they like.
It’s not easy to know if something will work. That’s why you have to try different variations.
Same goes for ads. You’ve got to try different variations of the same ad to see what works and what doesn’t. Or, try variations to find out what works better.
Facebook’s A/B testing allows you to play around with different variables to gauge what works best. Next, Facebook divides your budget to split exposure among the two versions of your ad. This is done in an equal and random way. Finally, the performance of each version is compared to see what works best. A few variables which can be tested are:
Creative: This variable compares different ad images, content or creative groups.
Audience: This variable compares ads, touching various audiences or demographics.
Placements: This one lets you compare different ad placements.
“Take a risk and keep testing, because what works today won’t work tomorrow, but what worked yesterday may work again.”—Amrita Sahasrabudhe, VP Marketing, FastMed Urgent Care
Successful ads are the ones that are relevant to their audience. Thus, it’s important to examine the relevance of an ad before it goes live. Relevant ads are not expensive and generate greater results. This ensures a greater experience for the audience.
With the help of ad relevance diagnostics, you can identify whether your ads are relevant to the target audience. Ad relevance diagnostics comprises of three parts:
Quality Ranking scans the perceived quality of your ads compared to ads contesting for a similar audience. You assess ad quality by looking at how many people view or hide the ad. Factors like incomplete information, the amount of text in the ad image and overhyped language are also taken into consideration.
Quality Ranking values are: Above Average, Average, Below Average (bottom 35% of ads), Below Average (bottom 20% of ads), and Below Average (bottom 10% of ads)
Let’s say your ad has a quality ranking of Below Average (bottom 10% of ads). This means the perceived quality of your ad is in the bottom 10% of ads contesting for a similar audience. At the same time, at least 90% of ads contesting for the same audience are perceived as better quality.
Engagement Rate Ranking measures your ad's expected engagement rate versus the ads contesting for a similar audience. It estimates the possibility of positive engagement with your ad. Engagement rate ranking values are the same as quality ranking values.
Conversion Rate Ranking analyzes your ad’s expected conversion rate performance against ads with common optimization goals targeting a similar audience. It determines the chances the audience viewing your ad will fulfill your optimization goal. Conversion rate ranking values are the same as quality ranking values.
You can find out how to use Ad Relevance Diagnostics here.
This is the most important part of your ad. Your ad has to be carefully worded to comply with Facebook’s policies. The ad has to be scalable without hyped up or exaggerated claims. In your ads, you can’t mention someone’s attributes. Among other things, you can’t imply their race, religion, age, or financial status.
For example, “Are you not making enough income?” is not Facebook compliant. It mentions a person’s financial status.
Instead, you could say, “How to take your family on that dream vacation to Hawaii.” It doesn’t mention the financial status of the reader but gets the same message across.
There are a lot of other factors that come into play when writing Facebook ads. Expert copywriters knowledgeable in Facebook policies can easily cover them. To make sure your ad doesn’t get rejected, hire copywriters who can write scalable and compliant copy. A compliant ad would also help you boost your lead generation campaign.
You don't have to spend a lot of money to run a successful ad. Smaller companies and startups are usually on a tight budget. A cheaper alternative is available which is not only popular among the masses but profitable as well.
If you want compelling copy to boost your lead generation campaign, look no further. Hire one of our expert copywriters today!
Image credit: https://www.shutterstock.com/image-photo/moscow-russia-august-20-2019-photography-1647222052
Basim Nadwi loves creative writing. As a copywriter, he thrives on producing engaging and high converting copy for his clients. He has a certificate in content marketing. In his spare time, he learns and develops new skills. He is passionate about boxing and works out at a boxing gym to achieve his fitness goals.Hire Basim