Are Facebook (Meta) Lead Generation Costs Eating into Your Profits?

If you're looking to invest in social media advertising to boost brand awareness, drive traffic, and generate leads, the four Meta platforms: Facebook (core platform), WhatsApp, Facebook Messenger, and Instagram should be at the top of your list.

Together their active monthly user base is estimated at a billion plus. Particularly in India the advertising reach of Facebook, Instagram, and Facebook Messenger is more than 860 million users.

In recent years, Meta's ad platforms have experienced significant growth and evolution, particularly with the integration of Artificial Intelligence (AI)and Machine Learning (ML) algorithms.

However, this has also made the platforms more complex and challenging to navigate. Many marketers report that it is difficult to generate high-quality leads while keeping the advertising budget low.

As a business owner facing these challenges, it is time to rethink your Meta ads lead generation strategy. By leveraging marketing research and consumer insights you can use a data-informed approach to unlock Meta’s vast potential for impactful and cost-effective lead generation.

Given below are a few strategies to optimize Meta’s lead generation algorithms, unlock its expansive reach, and drive meaningful lead generation results.

Meta’s advertising platform is saturated and because of increased competition more businesses than ever are competing for the same pool of users. This makes it difficult for your ad to cut through the noise. It is, therefore, important to optimize your ad targeting by using consumer data insights and CRM data. This will help generate quality leads and reduce your cost per lead. Here are how you can get started:

Integrate CRM (First Party Consumer Data) To The Meta Ad Manager Platform Suit

For optimizing lead generation, an important requirement is using relevant consumer data. Privacy norms have limited Meta’s ability to track user behavior and deliver highly targeted ads. This has led to reduced ad performance and difficulties in tracking conversions accurately. Businesses that use Customer Relationship Management (CRM) systems can use first-party data of their consumers (such as their names, phone numbers, emails, etc) which helps Meta know who to target. Therefore, integrating your CRM system with the Meta business suite will help you build targeted ad campaigns and help generate high-quality leads.

It is also important to set up a Facebook pixel on your website. This helps Meta identify audience actions on your website after they have seen the ad on the Meta platforms. It uses this data for AI and ML algorithms which enhances ad targeting and results in higher-quality leads.

It is possible to create several types of campaigns (awareness, engagement, etc). If your business goal is to generate leads for conversion, select it as your objective on the ads manager platform. You may also have different ways to design the leads campaign. For example, if you need more information about your potential leads, you can have people respond to your questions on a form (when they tap on your ad), call your business (call ads), or connect with you on Messenger (through an automated question and answer flow in messenger). You can also create a form to generate consumer feedback insights for your product or service.

This is valuable data that can help you improve your products or services and tailor them to meet customer needs or to understand what your targeted audience wants. You can download your leads data directly from Facebook (with CRM integration) and then follow -up with your qualified leads. This also helps in lead nurturing, enabling you to target your prospects with relevant offers and resources as per their stage in the marketing funnel.

Refine And Widen Audience Segments

Meta ad platforms offer the option of widening your target audience reach by using its ML algorithm to reach out to ‘lookalike’ audiences who are similar to your target groups. Meta’s Advantage + audience set helps in creating the right groups of audiences to target and your CRM and consumer research data can help inform the same.

Use Targeted Ads That Speak Directly To Your Audience

It is important to ensure that you use a custom audience algorithm and create different ad sets for different types of target audiences. For example, you may want to create a cold audience campaign for new prospects in a specific location or region. You may also want to use a warm audience campaign to retarget potential customers who may have visited your website previously but have not taken any action or converted. Here knowing your consumers through data insights helps inform the ad-targeting strategy.

When an ad targets the right audience with the right messaging, the chances of generating high-quality leads increase. For this knowing who are your cold (new) audience and your warm audiences (potential consumers) helps. For the former audience, the ad messaging may be around creating brand awareness and sharing product or service features, while for warm audiences it may be creating messaging that highlights not only the product features but also demonstrations and client testimonials to further reinforce the messaging. Thus, you can align it with your marketing funnel. This helps in generating quality leads and optimizes your conversion rate.

Use The Option Of “Conversions” To Optimize Ad Delivery

When you choose “Conversion” as an option, the Meta algorithm optimizes the ad delivery by showing your ad to users who are most likely to become customers. This feature enables you to gain access to high-quality customers. It prioritizes getting completed lead forms from users who will most likely make it past the lead form and through the overall sales funnel.

Summing Up

There are plenty of ways in which businesses can leverage Facebook (Meta) and create ad campaigns that work well for them. The tips and best practices mentioned above can help one get a good start. To know more about how you can create a cost-effective social media advertising strategy in India, email us [email protected]. Our experts can help you optimize your ad campaigns for better ROI and brand awareness.