Social media has a stigma of not being very measurable. But when it comes to Facebook advertising, there are tools in place that can very effectively measure ROI. So much so, that Facebook’s analytics can become your most important indicator of success and favorite tools for planning. And when it comes to lead acquisition, I often find Facebook ads are at the front of the pack.
The Lead Generation Formula
The methodology is straight forward, you run ads on Facebook that drive users to your landing page where an offer motivates them to join your email or direct mail list. The big pieces include:
- Create compelling offer that motivates users
- Design and optimize a landing page
- Squeeze your value proposition into several Facebook ads
- Target the perfect audience segment that will appreciate the ads and offer
- Use a Facebook conversion pixel to track and optimize for results
Conversion Pixels for the Win
Each of those bullets is worth a post, or 10. But I want to focus on utilizing the conversion pixel. The simplest approach is to add a tracking pixel to your “thank you” page. So when users complete your sign-up form the pixel loads and Facebook counts that person as a conversion. Then pair that pixel with the ads you are running on Facebook.
Facebook will then be able to track everyone who clicks on your ad and know when they sign-up and make it to your thank you page. A wealth of data will then be available to you, including the cost per click, cost per conversion, and a breakdown of who converted cross referenced with just about every variable you could ever want to sort by. You can see exactly how many dollars it takes to acquire every new lead, in real time.
Optimizing & Learning
What is even better is that Facebook will then begin to optimize your ad targeting to reach the types of users who are most likely to convert. As your conversions begin to stack up, the ads become more efficient and your cost per conversion improves.
Yes there are other platforms that enable conversion tracking, but the actionable data Facebook gives you is impressive. In many ways it can be ideal to test on Facebook first to find the most responsive audience for your offer before you start doing lead generation through other channels.
Not only can social media be measurable, it can be the most measurable thing you do.
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