Are Facebook Lead Generation Ads Worth It?

You might be aware of Facebook lead form ads but are you using them? If you are, or you’re considering trying them out—hopefully this blog post gives you a little more direction. As you read you will see some of the ‘Good’ and ‘Bad’ campaigns CYS ran in 2017. Before we jump into the results let us explain a few key points about Facebook lead form ads.

3 Ways You Can Use Facebook Lead Form Ads

  • Collect email sign-ups—Lead ads can help you get more subscribers to your newsletters and email marketing.

  • Manage inquiry forms—Use lead ads to collect inquiries from potential customers.

  • Offer deals or promotions—Lead ads are a great way to entice people with special deals and perks.

Are Facebook Lead Form Ads Simple For Potential Customers?

Facebook lead form ads allow possible customers to sign up for you’re offer/product/service very easily and conveniently. After clicking your ad the user will see a pre-filled form with all the information they shared with Facebook—for example their name, their number, their email, or their address. This gives you accurate information in a timely manner.

The form is mobile friendly and was designed for users to input information quickly. Most of the time NO TYPING is needed, making it super easy for the user to submit the form with accurate contact information.

Average Cost per Lead of Facebook Lead Form Ads

Facebook lead ads pricing across the board for all CYS clients was fairly decent. There were 316 leads for a total cost of $6,652.81. The average cost per lead for Facebook Lead Form ads in 2017 was $21.05. Check out CYS 2017 Highlights.

The lowest cost per lead we saw was $7! 

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Although normally after the ad has had some time to run the cost per lead will even out. In this case the ad evened out to $15.63—a little better than the CYS average for 2017.

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Facebook Lead Form Ads Can Be Extremely Effective

If you’re wondering if lead form ads actually work, the answer is “Absolutely 100% yes.”

Here’s an example from this client in legal services. These guys are averaging a $60 cost-per-lead on Adwords, which is great for legal service by the way. If you look close you can see we’re getting some leads for as low as $10! We ran English and Spanish ads for this client.

Good example of Facebook lead ads for legal services:

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These guys are a local gym. We’re running Adword here too, and in this case the difference isn’t quite as pronounced, but FB lead form leads are still cheaper--about $30 per lead for Adwords, and about $20 for Facebook.

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Now that you’ve seen the ‘Good’ ads it’s time to take a look at ‘Bad’ ads. For example here’s another client who is in legal service.

Check it out:

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Even though we ended up paying $200 per lead it was a good learning opportunity. If you look above the outlined ad (the one that spent $200 per lead) you will see a ‘v2’ of the same ad. All we did was tightened up targeting and changed a little lingo in ad. Sometimes that’s all it takes to get an ad from ‘performing terribly’ to ‘performing like a champion’. Things can head in the wrong direction, like this. And when it happens, be thankful you have the guys at CYS staying heads up and catching it quickly!

Should You Set Up a Facebook Lead Form Ad?

If you’re asking yourself, “Should I set up a Facebook lead form ad?”...the answer is you should probably try it. If it makes sense as a long term strategy will have a lot to do with the type of conversion you or your client is after and how the conversion process works.

Like we mentioned earlier, we’ve seen Facebook lead form ads work extremely well and we’ve seen them perform like dog crap. The only way to ultimately know if they work for you or your client is to give them a shot (if your conversion process allows it).