Have you ever wondered why Facebook campaign gave an ineffective result? Were you dissatisfied with junk leads piling up in your lead generation campaign? Have you ever tried to analyze why it is so?
Most companies, especially real estate companies, straightaway start their Facebook campaign with lead generation objective or website conversion objective. In most cases, 50% of these leads turn out to be junk. They may realize that their cost per lead is actually higher after they weed-out junk leads. And that’s when a marketer gets into tizzy not knowing why Facebook campaign gave an ineffective result.
If one pays close attention to objective segregation in the Facebook campaign, Facebook clearly segregates various objectives in 3 buckets – awareness, consideration, and conversion. Though marketers carry out big-bang offline promotion by putting adverts on billboards, newspapers, TV, and radio, they often neglect similar promotion in Social Media through brand awareness / reach objective. This blog post will provide you with tips for running a successful Facebook campaign.
What is a buying cycle?
In a typical buying cycle, a prospect goes through 3 stages.
A customer-centric business will try to understand the problems and the needs of their target audience before designing a product/service. This is the Market Research stage. You can learn more about market research types here. When the product/service is conceptualized, a business will then start working on pricing and marketing promotion that in sync with its business objective and at the same time, meeting the needs of target audience. Pricing and Promotion often end up deciding the success or the failure of the product/service.
#Tip: Remember to always launch a product or a service that a customer is looking for or that will complete a customer’s needs and not otherwise!
Awareness stage – the first step in buying cycle, where the prospect becomes aware of your product/service. Older sales channel work by displaying ads in billboards, newspaper, TV, and radio. Now a marketer has an option of reaching the targeted audience through Social Media and Search Engines. Do campaigns to create brand awareness among your targeted audience. Design ad creatives educating how your product/service will solve their problems or why they need to purchase it? This will help a prospect to consider your product/service next time when he is making a purchase.
Next in buying cycle is the Consideration stage. A prospect may still have doubts in his / her mind to buy-out your product/service. Giving them free samples, free trials, discounted rates, cash-backs, money-guaranteed, or even showing customer reviews and testimonials will help get the confidence to try out your product/service.
When you have ensured first 2 stages of buying cycle, it becomes relatively easier for your salesperson to pitch for your product/service and make them your customer. This stage is referred to as Decision/ Purchase stage. And when your product/service regularly meets one’s expectation, one develops a brand loyalty and will eventually become a brand advocacy in the long run.
So, how to achieve a better RoI on Facebook?
Never start your Facebook campaign with lead generation/website conversion objective. Start promoting your product/service with brand awareness objective (during product/service launch) and reach objective (for the promotion of special offers/ discounts/ free-trials or getting to know the need of your target audience) in Facebook before carrying out objectives in consideration and conversion stage.
With brand awareness/reach objective, try spreading awareness of your product/service launch or try promoting special offers to your target audience. Create a compelling advert where you make your target audience to notice of your advert, and even make them interact with your advert.
Once you created a buzz among your target audience, then run the Facebook campaign with consideration objective with Traffic to your website as objective or Video View as objective. Ensure that you have installed Facebook Pixel on your website with appropriate event code for tracking and re-targeting at a later date. Educate your target audience why they have to buy your product/service and how your product/service will satisfy their need. By running this campaign, a marketer can also identify percentage drop-out in interactions between awareness stage and consideration stage and take corrective steps.
When you felt satisfied with above objectives, start Facebook lead generation campaign. Even if one does not have a website, Facebook allows you to capture leads with their simple yet powerful lead capture form. Facebook auto-fills user information when one tries to submit an inquiry.
To increase lead quality, you can ask a user with 1-3 custom questions in the lead capture form. Facebook allows 4 types of custom questions – Short Answer, Multiple Choice, Conditional Questions, Appointment Scheduling. By asking relevant questions to a user, a marketer can decrease junk leads in his/her Facebook campaign.
#Tip: It is observed through various testing that Lead generation objective is cost-effective when advert placement is in mobile handset than in a desktop whereas Website conversion objective is cost-effective when advert placement is in a desktop than a mobile handset.
How to optimize Facebook campaign with lead generation objective?
I have seen many real estate companies running a separate lead generation campaign for each project, even when target audience remained same. While doing so, they miss optimizing the cost per lead. If your target audience remains same and if you have multiple products on display with location, configurations, pricing etc, it is best to put a conditional question in lead capture form.
Say, if a real estate developer has 3 categories – Location, Project, and Configuration as variables, then one can create a conditional question in the lead capture form by uploading a csv file as per given below:
With above form, when a prospect inquiries for Location 1, Facebook throws up 2 options of Project A and Project B. If a prospect selects Project A, Facebook gives an option of 1BHK / 2BHK / 3BHK. If a prospect selects Project B, Facebook gives an option of 2BHK / 3BHK. The form can be expanded to include pricing and other factors to effectively utilize overall advertising budget.
#Catch: 1st row should be your question. The 2nd row should always be empty. Start your choices from the 3rd row. And the file has to be in csv format only.
And when you have captured a lead, you can use a CRM software to automate the email communication. Alternatively, Facebook also allows downloading leads as csv or xls format. However, the lead gets expired within 90 days from the date of lead submission. So, it is best advised to regularly backup your leads – the easiest being transferring to Google Sheets using Zapier.
Once a lead is captured, you can immediately call the prospect for further discussion. This is when you get a chance to qualify the lead as hot, warm, cold, dead. This process is called as Lead Scoring. Though salesperson can score differently, with experience, most salespersons will rate the lead almost on same lines and there wouldn’t be any big difference in the lead scoring.
Once a lead is scored, the treatment has to be different for each score. While a hot prospect can get converted with very less effort, it will take good time and effort in converting a warm and a cold prospect. The process of making a prospect move-up in the buying cycle, from being a cold prospect to a hot prospect, is called Lead Nurturing. This will involve a series of steps in educating a prospect to clear apprehensions/doubts/queries that he/she may have in his/her mind for purchasing your product/service.
What to do with Dead Leads?
Also, most companies do not provide any treatment for the lead that became ‘dead’. If you give some customized treatment, there are chances that even a dead lead will move up the buying cycle later some time. Even if it doesn’t happen, we can consider it as a part of branding exercise.
How to increase sales funnel size?
Using the leads that you have captured through various offline and digital campaigns, Facebook allows you to create a custom audience and a lookalike audience with 1%, 2%, and 5% accuracy. You can re-target your advert communication to a custom audience and a lookalike audience at a later date.
Facebook allows a marketer to map website visitors for last 180 days. You can deliver tailored advert messages to website visitors for conversion at a later date.
With above steps, you can now exponentially expand the sales funnel and reach your target audience. Do like, comment, and share this blog post to help your friend’s circle optimize their Facebook campaign.