Have you noticed a spike in how much it’s costing to get good leads these days?
Find yourself wondering how to reduce your cost per lead on Facebook?
Often, it can seem like everyone around you is talking about the rising costs of Facebook advertising.
It can make you wonder…are FB ads even worth it anymore?
As someone who’s earned nearly $100 million in revenue for my agency clients (and has continued to see results even while others around me are struggling!)…
Trust me, it is.
You can need to know the right strategies to reduce the post per lead on Facebook.
Here’s the thing:
When you launch a Facebook Ad campaign – the first 24 hours will be blissful.
You’ll see TONS of leads and the cost per lead will be at an all-time low.
Perfection, you think.
But anyone who has ever run a Facebook ad campaign knows – after that first 24 – 48 hours of smooth sailing, comes the usual dip in leads.
And no matter how many times this happens…can be discouraging.
Not to mention, expensive!
So what do you do when you see this happening?
What’s the solution?
Look no further!
In this post, I’ll be teaching you all about how to reduce cost per lead on Facebook so you can increase your profits without breaking the bank.
Before we jump in – I want to take this chance to invite you to my upcoming free webinar, the 100 Million Webinar.
In our FREE, on-demand class, we’re walking you through our 100 Million Method. This method helps you create, launch and scale powerful Facebook advertising campaigns. This method has successfully made $100 million in sales for our clients and students. This is the kind of knowledge we’d usually be charging a hefty sum of money for – so don’t miss the opportunity to learn it all for FREE. Sign up here to make Facebook ads work for you.
Now, let’s dive into the two most important steps for how to reduce cost per lead on Facebook.
Step 1: Leave Your Campaign Running Longer
If you’re looking to reduce your cost per lead on Facebook, let’s dive deeper into understanding Facebook and its strengths as a platform.
Facebook’s superpower is the sheer amount of data it’s able to collect on your customers.
And it’s because of all this data that the first 24hrs or so of your ad campaign will be so successful.
Facebook knows exactly who to push your ad to in order to get those conversions.
So once Facebook has shown your ad to all the most qualified leads and you start to notice your cost per lead going up, while your number of leads go down…what do you do?
You let your campaign run longer than you think.
Most people will pull their ad as soon as they notice that increase in their cost per lead.
But if the secret for how to reduce cost per lead on Facebook is understanding how to stick things out.
Your most accurate cost per lead is going to be 5-7 days from your launch date.
And after about a week, you’ll see the cost per lead landing closer to where it should be.
I know how tempting it can be to check your cost per lead as soon as you launch your campaign.
But I am telling you – this is not an accurate reflection of your true CPL.
Wait it out.
And if you absolutely must check…remember that it’s only by day 5, 6 or even 7 that your numbers will start to reflect how much each lead really costs.
As online entrepreneurs, we have to get used to this life cycle of an ad set or ad campaign.
Try not to panic when your CPL goes up after that first day or two of major success. It’s normal!
Facebook has just shown your ad to the people who are most likely to convert.
They’ve shown your ad to the most low-hanging fruit.
Wait it out – and you’ll see the more accurate results in no time.
Once you’ve given your ad time to start working for you, it’s time to move on to step number two.
Step 2: Refresh Your Creatives Often
As business owners, we put a lot of thought and effort into the creatives used for ad campaigns.
And by creatives I mean this:
The special combination of copy, images, and videos that market our awesome products and services.
What I see happen more often than not is this:
Business owners come to me frustrated that their cost per lead has skyrocketed.
And when I ask them when the last time they updated their creatives was – they can’t remember!
The only way your campaign is going to continue to work for you in the long term is if you are committed to keeping your creatives fresh.
You should constantly be tweaking, updating and optimizing your ads to see improvements.
So don’t wait for that spike in cost per lead to indicate that you need to refresh your creatives.
At our agency, this is something that we believe you need to do proactively.
NOT as a reaction to a downtrend in success with your campaign.
For most clients, we are refreshing the combination of copy, images, and videos monthly.
And for clients with a bigger budget, their creatives are being updated every few days.
So the next time you find yourself googling:
“How to reduce cost per lead on Facebook?”
Because you feel frustrated that your cost per lead has started to increase…ask yourself:
“When was the last time I refreshed my creatives?”
And then get to work keeping them up to date!
Because remember, Facebook is an incredibly smart platform with access to enormous amounts of data.
So give this platform a shot at pushing your ad set out to the right people.
The best way to do that?
Give your ad campaign a little facelift every so often.
And I’m not asking you to reinvent the wheel.
Just a few tweaks to the copy, and a little updated graphic can go a long way in helping your ad set reach the right people.
If there is one thing Facebook knows how to do – it’s targeting the right audience.
So make sure your creatives are as up-to-date as possible so that Facebook can target some perfect-fit leads.
By doing this, you’ll keep your cost per lead nice and low.
So remember, the next time your cost per lead starts to increase…
Wait it out. Let it go through the normal life cycle of a Facebook ad campaign. Don’t get frustrated and pull your ad too soon. Be patient.
Secondly – refresh those creatives.
Tweak your campaign creatives so that your ads start to catch the eye of some amazing new leads again.
And if you still need support making Facebook ads work for you and your business – be sure to sign up for our FREE webinar.
We’re teaching our method that will help you reach your facebook marketing goals and keep you up to date on the most current and successful marketing strategies.
You’ll learn how to reduce cost per lead on Facebook and so much more!