However, you really don’t want the cheapest leads possible. You want highly target leads at the best price.
When we target warm audiences (our recent website visitors or our email list) it is often very easy to generate a low cost-per-lead because these audiences have already been exposed to us and know, like and trust us.
In this case study, you are going to see how we got very targeted leads from cold audiences at a very low cost-per-lead.
When trying to lower the cost-per-lead, people often focus on the ad image or copy. However one of the most important factors is really the offer.
Your offer is really going to dictate how successful your ad is. Think about it, if you were selling water in the middle of the desert, would you really need a great ad image or copy?
This case study is going to illustrate when you put the right offer in front of the right market you will get great results.
For this case study, the client (my wife :-)) wanted to generate email leads for people who were into using essential oils.
The question we asked ourselves was what would people that use essentials oils most be interested in that we could give them in the form of a lead magnet (short report, video or cheat sheet)?
Well, one of the most common ways to use essential oils if to diffuse them and when you diffuse them you often use more than one oil. So we decided to create a giveaway “50 Essential Oil Diffuser Blends”.
Again this is something that only someone who uses (or wants) to use essential oils would be interested in and those that do use essential oils are always looking for new blends to try.
Simple, we didn’t have any warm audiences we went after the general interest of “essential oils”.
Now we could have targeted various distributors (like doTERRA or Young Living) but due to a low ad budget, we decided to just start with this one general interest.
Turned out this one interest performed so well, we never tried targeting any other interests.
The Landing Page
We used LeadPages to create a simple lead generation page. Again due to our specific targeting and nature of our lead magnet, it didn’t need much additional explanation as to what they would get.
The Ad Campaign
We created an ad campaign with the objective of “website conversions”.
The Ad Sets
We created only one Ad Set with a daily budget of $5 and targeting:
- women in the United States
- Age between 31-65+
- who like “essential oils”
Again, due to the low ad budget, we only tested one version of the ad. I almost always advocated split testing at least two different versions of the ad, but again we were generating great results so we never even attempted trying a different ad.
So this particular campaign ran for 15 days and generated 538 new email subscribers at an average of $0.15 each. So we spent a total of $79.02 to get our first 538 subscribers for this list.
Why It Worked
Even though we were targeting a cold audience, there are several reasons why this ad worked so well.
First, take a look at the shares and likes this ad generated. This ad was shared 113 times in just 15 days, this indicates that not only did people find it desirable enough to opt in for but they also wanted to share it with their friends. Remember all the exposure you get from shares are free, Facebook doesn’t charge you anything for activity that results from sharing of an ad.
Second, because of all the shares and unusually high CTR (click-thru-rate) this ad got a relevance score of 10 (highest possible). The higher your relevance score, the less you pay for more ad reach.
- A great offer – when you have an offer that really resonates with your target market your ad will generate a high CTR and lots of social shares leading to lower lead costs for you.
- Start small – as you can see, you don’t need to start with a huge budget. We were spending just $5 per day and generated over 500 leads for less than $100.
Comment below and let me know what your best performing offer is so far with Facebook Ads. Also, feel free to ask any questions you may have regarding this Facebook ads case study.