Skip to main content
Instapage

Generating Leads On Facebook: What You Need To Know

ss-lead-generation

Back in September, I conducted an examination of e-commerce advertising and purchase activity run through Nanigans software, which was developed by the company that employs me. I noted some clear behavioral patterns, such as consumers generating the greatest share of purchases on Wednesday or Thursday of a given week.

In this column, the focus turns to lead generation advertisers who, as a whole, seek to drive more complex conversions, like contacting a mortgage lender or requesting a car insurance quote. Facebook advertising data shows how advertisers in this ecosystem need to expect remarkably different behavioral and market dynamics, requiring a corresponding shift in strategy and testing considerations.

A notable example of differences between lead generation and industries like e-commerce is the aforementioned weekly purchase and ad spend pattern. For lead gen advertisers, Sunday through Wednesday show the highest percentage of conversions and ad spend:

lead-vol-by-day

Compare this with e-commerce advertisers, who attract the largest share of purchases midweek:

Weekly-ecomm-purshae-share

Time Your Promotions To Match Behavior Patterns

The differences between these two data sets emphasize how advertisers need to time their promotional efforts to best match the behavior patterns of their specific target market, rather than adhere to general best practices for a given advertising channel.

It stands to reason that e-commerce purchases typically over index during the workweek because users are more likely to conduct an impulse purchase while browsing Facebook at work or during the morning commute — a hypothesis supported by hourly purchase patterns.

Meanwhile, lead generation companies typically operate in completely different markets — connecting consumers with universities, auto insurance providers, financial services firms and so on. Inherently, the nature of their businesses and target markets necessitates being much more discerning with their advertising budgets and strategy.

Targeting users at a moment when they can take the time to consider and fill out a form with their contact information has a positive impact on the cost of capturing leads, along with click-to-lead conversion rates:

lead-cpl-by-day lead-cr-by-day

Of course, the data above should be taken as general guidance rather than infallible trends across the lead gen industry. Keep in mind that while these stats represent tens of millions of dollars in industry ad spend over the course of 2015, they are aggregated across Nanigans’ lead generation advertisers, which can differ considerably.

Most e-commerce advertisers may share a common goal and target market segments, but this isn’t usually the case with lead gen advertisers. More detailed and complex goals mean marketers in this space utilize unique and varied targeting to get in front of specific groups of users who are likely to be most receptive to their particular offering (e.g., continuing education, financial services).

This need for extremely granular and people-based targeting makes Facebook an especially effective advertising platform for these companies.

Thanks to Facebook’s ability to target extremely small subsections of users based on detailed criteria, lead gen advertisers can minimize wasted ad spend. This type of targeting strategy results in more CPMs at a high level but helps manage the overall cost-per-lead and keep conversion rates relatively high.

lead-cpm-by-day

As one example, an in-house marketing team at a large-scale advertiser in the education sector combined audience segmentation with granular bidding strategies based on downstream value. To help ensure prioritization of the highest-performing creative across audience segments, the team extensively employed automated creative testing at all stages of the campaign.

By prioritizing increased efficiency and high user value, the advertiser achieved continuous quarter-over-quarter improvements in return on ad spend, conversion rates (from ad click to lead conversion) and average cost per lead. Having tested extensively to understand what it takes to reach their market effectively over time, the advertiser was able to scale its budgets confidently.

Things To Consider

Along with testing out Facebook’s new Lead Gen ad units, it’s worthwhile for lead gen advertisers to consider the following as they construct their creative:

  • Will the user understand what they’re signing up for?
  • Do you make your value proposition clear?
  • Is the form long enough to get the information you need, but short enough to keep users from dropping off prior to submission?

Further testing with aspects like form layout are likely to reveal specific market nuances that can pay equally high dividends. Certain hours, bid or creative types may be best for a given business, depending on market-specific factors and campaign objectives.

Probably more than any other industry, lead generation advertisers need to be extremely data-focused to properly reach consumers when they are ready to engage. These stats and best practices may help you achieve this goal.



via Marketing Land

Comments

Popular posts from this blog

How to Get SMS Alerts for Gmail via Twitter

How do you get SMS notifications on your mobile phone for important emails in your Gmail? Google doesn’t support text notifications for their email service but Twitter does. If we can figure out a way to connect our Twitter and Gmail accounts, the Gmail notifications can arrive as text on our mobile via Twitter. Let me explain:Twitter allows you to follow any @user via a simple SMS. They provide short codes for all countries (see list) and if you text FOLLOW to this shortcode following by the  username, any tweets from that user will arrive in your phone as text notifications. For instance, if you are in the US, you can tweet FOLLOW labnol to 40404 to get my tweets as text messages. Similarly, users in India can text FOLLOW labnol to 9248948837 to get the tweets via SMS.The short code service of Twitter can act as a Gmail SMS notifier. You create a new Twitter account, set the privacy to private and this account will send a tweet when you get a new email in Gmail. Follow this account …

Instagram Story links get 15-25% swipe-through rates for brands, publishers

Instagram may arrived late as a traffic source for brands and publishers, but it’s already showing early signs of success, driving new visitors to their sites and even outperforming its parent company, Facebook.For years brands, publishers and other have tried to push people from the Facebook-owned photo-and-video-sharing app to their sites. Outside of ads and excepting a recent test with some retailers, Instagram didn’t offer much help to companies looking to use it to drive traffic. So they had to find workarounds. They put links in their Instagram bios. They scrawled short-code URLs onto their pictures. And they typed out links in their captions.Then last month Instagram finally introduced an official alternative to these hacky workarounds: the ability for verified profiles to insert links in their Instagram Stories.Almost a month after the launch, 15% to 25% of the people who see a link in an Instagram Story are swiping on it, according to a handful of brands and publishers that h…

In the age of RankBrain, these foundational SEO issues still matter

There are at least 200 ranking factors in Google’s algorithm (not to mention RankBrain), which means a thorough SEO audit could lead to dozens, hundreds, or even thousands of SEO tasks. Few companies have the budget or resources to complete every potential SEO to-do item — and doing so would be an incredible waste of time and resources anyway. Some SEO tasks are critical and cannot be ignored; others just aren’t worth your time.Prioritizing an SEO task list is crucial. Focus your resources on SEO work that is actually going to improve rankings, increase clicks and drive revenue. Most companies should focus on engagement SEO work, but technical tasks can’t be ignored completely — especially if you have major problems.[Read the full article on Search Engine Land.]

via Marketing Land