How We Reduced Lead Costs by 3x
Using The FB Lead Form
Small hinges swing big doors!
We recently conducted an interesting experiment on one of my client’s ad account.
The client is in the mortgage broking space and specializes in working with nurses to help them buy their first home.
The existing lead generation process went like this…
The ads would drive the traffic to a landing page promoting free training, a call to action button would open a pop-up form asking for a name and email, and upon submission, they’d be redirected to a page with the webinar video.
From there, the webinar encouraged that traffic to book a free consultation which is how we made sales.
We already had this working well, and the client was happy. In fact, he was surprised he was only paying $15 for leads since other advertising avenues had been much more expensive for him.
Still, it got us thinking because we knew we could still do better!
So I proposed to him an idea…
Rather than collecting the lead on the website in the lead form, why not try collecting it on Facebook/ Instragam and then sending them the link to the webinar.
I was given the go-ahead, but secretly, I already had faith in the outcome.
Over the period of 30 days, I tested these two strategies in separate campaigns.
Campaign A – Collecting the lead on the FB/ IG lead form.
Campaign B – Collecting the lead from the website opt-in form
Everything else such as targeting, placements, and ads remained unchanged, the ONLY variable here was what happened with the traffic when the ad was clicked.
Ready for the results?
Leads captured using the integrated lead form were $5.74 as opposed to the website opt-in form at $15.47.
That’s almost a 300% increase in performance!
Note how CPM dropped by 40% and the link click cost, down by 30%.
The decrease in cost would be attributed to a few things:
- Keeping users on Facebook. You get charged a premium when you send traffic off Facebook to your website.
- Because the user experience remains on the Facebook platform, it’s unaffected by iOS tracking issues.
- The form is built into the platform, therefore it’s perfectly optimised for speed and user functionality.
- It’s easier to use because it prepopulates with data from personal profiles.
Any drop in lead quality can easily be counteracted with qualifying questions or by adding additional information fields.
This is exactly why we encourage our existing and new clients to use the lead form.
Combined that with a powerful offer, and great salesmanship, there’s nothing stopping you from scaling your coaching business to the moon.
To summarize the key learnings we’ve shared in this case study:
- Test different methods of collecting leads to discover what gives you the best CLP & conversion rate.
- Using the lead form reduces your CPC & CPM significantly.
- The lead form is not affected by iOS tracking issues.
If you would like close support to have a lead generation solution built for your business, click the button below, and let’s find out how we could make it work for you.
Starry Skies,