Leads are a set of people who express their interest in products or services a brand offers. Lead generation is the process of drawing these potential customers into leads and then go on to convert them to customers.
A typical marketing funnel has four stages to build customer relation i.e. attract, convert, close, and delight. Facebook is a platform with 2.32 billion active users, which ensures the presence of users who can be latent buyers of your business. There are various campaign strategies and ad campaigns for each stage of the funnel. With a forecast of 67.8billion dollars of ad revenue in 2020, the platform’s immense advertising potential can’t be side-lined. But to maximize conversion rates and meet sales targets, brands need to interact with relevant traffic than to bump into accidental visitors. However, with an average Facebook ad CTR ranging from 0.5% to 1.6%, there is a long way home to meeting audiences where they are.
We live in the digital age where content is in abundance and thanks to digital disruption, many businesses have resorted to social media marketing making it a possibility for your promotional activities to be lost in the crowd.
Now, how does a brand make sure that its voice is being heard to millions among the millions of businesses thriving around?
Here we have come up with 8 comprehensive ideas of generating more leads on Facebook.
1.Advantage of Facebook Pixel for your website:
Creating ads is not enough, its effects should also be measured. Facebook Pixel is instrumental to make the most out of your ad budget. It allows a brand to see how a customer interacts with the website after viewing the Facebook ad. And this customer tracking is seamless across all devices and also informs whether a customer sees the ad on mobile devices and goes on to switch to a desktop before buying.
The tracked conversion can be seen on Facebook Ads Manager and in the Facebook Analytics dashboard.
2.Usage of Dynamic Product Ads:
These ads appear to be like any other normal ad. Instead of making ads for each of the brand’s products, it creates an ad template that automatically uses images of products along with their details from the website’s data feeds.
This feature uses Facebook Pixel or SDK to display ads to people who have already shown interest in the website. For this, a product catalog is created with added inventories and then it is connected to the pixel.
Now here is a thumb rule: for 10-20 similar products, a normal carousel ad works perfectly which shows the best-selling options. But when we have 10 dissimilar or 20 similar items, DPA is the go-to strategy.
It not only helps to cross-sell and up-sell to past purchasers but also restricting ads of products that are already bought by a customer.
3.Incentives to click on the ads:
When coming across ads, a prospective buyer is tempted to click on an ad if it offers an incentive like a free trial, a limited period offer, or an early entry to some upcoming sales.
This strategy is mostly aimed at users unfamiliar with your brand presence.
4.General Retargeting Campaign:
Retargeting is a simple concept of when a customer visits a website, the brand put a cookie on the device. When the same person visits any other platform, the customer is identified by that cookie and is shown ads related to products.
If a customer doesn’t show interest beyond the checkout page or abandons the cart in the midway, then that customer can be retargeted by showing them the same product or giving them a personalized discount to make the purchase. People have become so accustomed to these kinds of discounts that around 57% of customers expect these within a day (Single grain).
This marketing tool takes a few months to improve ROI. The key is to constantly test and tweak messages through retargeting to see what fits the best for customers. Facebook split tests come in handy to figure out that aspect.
5.Finding of Lookalike audiences:
When a brand creates a lookalike audience, it takes into consideration a source audience and their common qualities are identified(demographics or interests etcetera) and then ads are delivered to people who are similar to them.
A large lookalike audience creation increases potential reach but reduces the level of similarity between these two groups. The Facebook business recommends a source audience in the range of 1,000 to 50,000 people.
6.Direct sell of products on Facebook:
Facebook is a highly trusted platform for many users. Therefore, it can be predicted as a future emerging e-commerce market place. All a brand needs to do is set up a Facebook business account that directly interacts with a customer.
By using Shopify, a virtual store can be set up on Facebook by just a few clicks. This collaboration can help to add and update products in real-time.
Some people find the cookies as an evasion to their privacy. Once they visit a certain website, then they may feel like they are being followed all around the web.
Therefore, a push notification asking their permission for such promotional activities will be beneficial for the brand not to push away this section of customers.
8.Channelising brand voice via ads:
Storytelling is the age-old tool of marketing and it is no exception when it comes to Facebook ads either. Instead of bombarding the user’s Facebook page with numerous contents, an initial approach to introducing a brand is the right way to connect with customers. It resonates with people and builds a strong customer relationship that goes a long way by leaving an impression on their minds.
Any visual content(images, gifs, or videos) that communicates the brand beliefs, strikes well with people who share the same emotions, and it becomes their personal story. The brand can also run ad campaigns asking users to share their stories using hashtags and tags of the brand. And when others view, like, or share those contents, it becomes the word of mouth marketing and reaches millions.
All these strategies of generating more leads point to one particular idea, i.e. Creativity that leads to credibility. The business needs to stay relevant to people around and the marketing part can be entrusted to Facebook owing its ever-growing presence in the social media space. Due to the pandemic, it has reportedly cut its advertisement costs by nearly 20%. If your brand hasn’t invested in promotions on this platform yet, there is no better time to test the waters!