Lead generation is a marketing tool aimed at attracting specific contact details to your target audience. A lead is the contact information for an internet user who has expressed a desire to buy your products and services or responded to a survey lead form.
Facebook and Instagram lead generation is one of the easiest and fastest tools to attract new customers. With its help, you can make an offer of a product or service (offer) to the target audience and get the contact details of those who are interested in this offer. Such a tool is very effective, but you also need to know how to use it.
Lead form is a distinctive feature of an ad for lead generation. It opens after clicking on the call to action button. For example: “Details”, “Register”, “Get an offer” and others. Depending on the settings, the form can contain both contact information fields and additional fields, for example, with the answer to the question posed (you can choose the answer from the list).
Trends show that the demand for lead generation will grow, both for service-oriented and sales-oriented companies. Whether it’s a small startup or a large multi-million dollar business, lead generation is used by the marketing and management team not only for sales, but also for research and hypothesis.
How will lead generation help your business or startup? Let’s take a look at this article.
Target audience research. Hypothesis Testing
Lead generation can be used to study the market before a new product is released. For a startup, this is a golden tool. The narrow targeting capabilities of Facebook / Instagram allow you to communicate with your target audience, receive contact information, questionnaires or conduct in-depth interviews with potential buyers. You just need to think through and customize the lead form questions.
For example, we at Newlead.market recently conducted a pre-sale survey to determine the demand and form an understanding of the price for the release of a smart watch – a product of a new online store. Audience: Facebook users with a smart watch interest. The audience is constantly growing. The survey budget is $ 100. Thus, we tested the hypothesis about the product, found out the cost per lead and the demand for the product. Agree, such knowledge is very valuable at the start of sales.
Facebook tools provide a very wide range of opportunities for targeting (targeting) advertising to a target audience. Of course, if you know your customers and can answer the questions:
- Who are they?
- How old are they?
- Where do they live?
- Where do they work and how do they rest?
- What are you interested in?
This information will allow you to target ads specifically to your potential customers.
Targeting will be individual for each business, product or service. It is especially worthwhile to segment the interests of the audience qualitatively. For example, interest in cars is segmented into specific brands and models. This makes it possible to effectively customize advertising for almost any business, product or service.
Lead generation for sales
Lead generation setup is the process where you start building relationships with potential customers at every stage of the buyer’s journey and sales funnel using relevant content. This is a very powerful strategy because it empowers you to build the trust of your target audience by showing them that you are an expert in your niche.
If you have a customer relationship management (CRM) system, you can set up automatic synchronization of leads to process them faster. Manually uploading leads can result in a long delay between getting a lead and then reaching out to them.
Leads can be obtained using many services, such as:
- Facebook messenger
- Direct Instagram
- WhatsApp messenger
- Google Sheets & More
The Leads Center “Lead Center” tab appears in the Facebook business page settings. It automatically collects leads from all ads.
Lead Center has features that can replace some CRM systems. You can:
- Assign categories to contacts, group contacts and move them through the funnel stages.
- Add notes to the lead, additional data from other sources.
- Assign a manager for each contact.
- Set reminders to contact your lead.
- Filter leads by date, manager and category.
- Use a convenient feature – create custom audiences and Lookalike audiences by category and funnel stage in the Lead Center.
At each stage of the funnel, false, inadequate and simply uninteresting contacts are eliminated. As a result, the funnel narrows until you get to the end, where you stay with paying customers.
Dealing with leads at the top of the funnel can be challenging, especially for small businesses. A lead who shows interest and is then ignored can be a wasted opportunity. When you are a lone salesperson who deals with dozens or even hundreds of potential customers, it is impossible to track them down and continue working without assistance. This is where lead management is critical to your business.
An important advantage of this advertising tool is the ability to increase the intention to make a purchase. For example, when selling real estate, you can ask additional questions: “Are you interested in an installment plan?”, “Are you interested in a 1-, 2- or 3-room apartment?” other. Thus, at the initial stage, you eliminate most of the low-quality contacts.
Creative (ad) plays an important role. You can create both a single image and slides, slideshows, gallery or video. It is better to minimize texts on images, since large texts greatly reduce the ad performance or prevent it from launching at all. Facebook has highlighted many suitable places to describe all your preferences and promotions.
It should be noted that there should be several creatives so that Facebook artificial intelligence can choose the most effective ones. The optimal amount is 10 per ad group. Artificial intelligence (algorithm) training lasts at least a week. And the budget is better to set at least $ 10 / day for an ad group.
- To get the most out of your leads, make sure you reach them on time (that is, process quickly).
- Company managers need to be more proactive so as not to lose their potential customers. Separate processing personnel should be allocated.
- Suitable for testing new products. It is important to create the right questions in the chat.
Metrics. Efficiency analysis
Collecting important data you need to determine how effective the corresponding campaign is in the market. It is important to quantify the correct lead generation metrics in order to understand the value of the generated leads.
Here are the three most important metrics you should consider when analyzing campaign performance for lead generation:
- LTV (Lifetime value) – the customer’s life value. That is, the profit that you receive from the client for the entire time of working with him.
- CPL (Cost per lead) – measures the amount that each potential customer costs your marketing team. The average cost per potential customer varies depending on the targeting.
- ROAS (Return on ad spend) is the percentage or ratio that gives owners and investors the answer to one of the most pressing questions in the marketplace: is a business’s ROI good enough? to justify the moving forward trajectory. ROAS = ad revenue / ad spend * 100%.
There are more metrics that a business might need to meet. And the relevance of the metrics will depend on the maturity of the organization and the type of business (B2B or B2C). But with these KPIs, an organization can track business growth and identify specific areas to focus on. All in all, this provides a deep insight to track business growth and determine the next best course of action. We at Newlead.market take all metrics into account when managing the lead generation process.
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