How We Cut Our Lead Cost From Around $5-$6 Down To $1.98!Published on January 10, 2019
Paid Marketing is fantastic and can definitely bring in leads at a very cheap cost providing the marketing strategy is on point.
However, putting together the right Facebook Ads can be challenging, especially if you’re new to it.
In this article, I’ll be sharing with you how I’ve managed to reduce our cost per lead from $5-$6 to less than $2.
I’ve tried and tested various objectives and strategies and I’m excited to share one of the best ones with you.
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How We Cut Our Lead Cost From Around $5-$6 Down To $1.98!
Before I dive into the strategy on how I’ve lowered the cost per lead, I’d like to share with you some REAL statistics and the things required for this lead generation tactic.
We spent a total of $946 on the Video Creation Apps eBook Messenger Ad.
Out of the 796 Messenger conversations started, we converted 478 leads.
The CPA of that ad was $1.97, with the CPC being $1.19.
Pretty awesome, right?
Now you might be thinking why we used the Messenger ad option instead of driving people to a landing page?
Well, we’re always trying new things at Creation Agency, and this has been something I’ve wanted to try for a while.
Let’s face it, people are even lazier nowadays compared to many years ago.
People want things there and then.
By reducing the steps involved, you’re more likely to see success. Whilst you could use Facebook Lead Ad Forms to generate more sign-ups, you’re still asking them several questions at once. This could turn them off.
This where I thought, what if we deployed a Messenger bot that gathers the information we’d like to receive and then in return, provide them direct access to the asset – would that work?
It turns out it did indeed.
That’s exactly what you’re about to learn. So let’s cover the things required to achieve this.
- Facebook Messenger bot – My favourite is Chatfuel.
- Facebook Business Manager account
- A Marketing budget
Now we’ve covered that, let’s get to the exciting stuff!
Step 1 – Creating Your Chatbot Workflow
Before creating your Facebook ad, you’ll first need to set-up your chatbot’s workflow. For our Facebook Messenger ads, I used the Chatfuel Messenger bot. It’s a fantastic tool that is very easy to use and has plenty of integrations.
Once logged in, you’ll see a screen similar to the one below. You’ll need to first create your own chatbot. I’d suggest starting from scratch rather than using a template.
Once you’ve created your chatbot, you’ll have the option to create various sequences and groups to automate your messaging. This is where it all happens. I would highly recommend creating a group and then setting up the automation blocks within those, otherwise, it can get messy.
Below is a screenshot of our workflow set-up.
This is the first message the users will receive once they’ve engaged with the Facebook Ad Messenger.
As you can see from the above, we’ve personalised the very first message by pulling the user’s First Name from their Facebook Profile.
This is only possible if they engage with your chatbot, which happens once they’ve initiated the conversation directly from the Facebook Ad. Afterward, we display the “typing” icon for 1.7 seconds. Straight after that, the user receives another message.
This is the first section of where we request information in exchange for the eBook.
The user input field is used to request their email address. If they enter text which does not look like an email address, the bot will reply mentioning it’s not a valid email, requesting them to enter it again.
Once they’ve entered their email address, I’ve set the bot to reply confirming if the email address they entered is correct, this helps reduce mispelt emails – which are completely useless.
They’ve then got two answers. Yes and No.
Yes – this will take them to the next workflow block.
No – this will request them to re-enter the email address until they confirm it’s correct.
Afterward, they receive access to our asset.
We don’t request any more contact information from them because we now have their First and Last Name along with a valid Email Address. If we wanted to collect phone numbers or additional information, we’d continue asking them questions, however, be warned some may drop off when requesting for further information.
As you can see from the above screenshot, I’ve connected up Google Sheets so therefore once they’ve got to this stage to access the eBook, they are automatically added to a private Google Sheet where we can collect the leads.
We then further ask if they would like to join our newsletter to receive valuable information, eBooks, webinars and much more. Once they click the “Yes please” button, they are automatically added to another Google Sheet consisting of those who have opted in to receive our newsletters. These are then added to our list.
Step 2 – Setting Up AI
The next step is to now set-up AI.
This is where you will write the phrase(s) that will be used for your Facebook Messenger Ad to start the workflow.
It’s fairly simple. Write a few variations and then select the appropriate block that the bot will reply with.
That’s it. Now it’s time for the Facebook Ad.
Step 3 – Setting Up The Facebook Ad
To begin with creating the Facebook Ad, first head over to your Business Manager account and create a new campaign. You’ll see a screen like the below. Make sure the objective you choose is “Messages” found underneath “Consideration”.
Afterward, you’ll need to enter your budget and schedule. We set a daily budget of $20.
Moving on, it’s time to set up the audience targeting.
For our ad, we targeted 24 – 45-year-olds in the US and UK with an interest in Marketing narrowed down further by specific job titles.
When it comes to the placements section, we ticked only Facebook Feeds, Instagram Feeds, and Messenger Inbox. We’ve found these placements perform the best.
For our Facebook Ad, we used two images, one suitable for Facebook Feeds and then one suitable for those over on Instagram.
Here’s an example of our Facebook Ad.
After entering your ad copy and headlines, choose the appropriate call-to-action.
I’d also recommend enabling your Facebook Pixel.
Once you’re happy with that, proceed to the Messenger setup section.
This is where we’ll need to create a custom template in order to get the user to engage with the bot. To get started, click on “Custom template” and then select “Create New”. You’ll see a screen similar to the below.
You’ll need to enter the “Text greeting” and change the customer actions from “Frequently asked questions” to “Quick replies”.
The quick reply text should consist of the phrase you created in Chatfuel, the AI section.
Once you’ve completed the above, it should look something similar to this.
If you’ve completed that, click on “Preview in Messenger” and see if it the automation works. If it does, you’re ready to push the advert live!
I hope you’ve found value out of this and it starts generating you more targeted leads! If you’ve got any questions or would like to reach out, feel free to drop me a tweet, @_GarethG.