About two weeks ago I ran a facebook lead ad to generate email leads, hoping to:
- get email leads onto my list inexpensively
- get enough of them to buy my $9 tripwire product ebook to pay for the ads
Lead Ad Results
The results are in, see the chart below, and my cost per email lead for the 160 new email subscribers I got through the ad was $0.54.
For many niches, that cost per acquisition of an email lead is really good. But for me in my niche, it is pretty high. I don’t have a $1000+ product or set of products to offer on the backend, so I need to either convert email subscribers to purchasers at a fairly high rate (perhaps 5%) OR I need to obtain email subscribers at a lower cost.
Facebook told me that my ad had a high relevance factor of 8 out of 10 for the audience I chose. I recall last year this same ad and audience only cost about $0.25 per lead, so I think facebook ads have grown more popular in that time.
Also, in order to get Facebook Lead Ads to automatically pipe the leads to my AWeber email list, I had to set up Zapier and pay $20 per month for the premium Zapier plan, since this integration is a gold feature.
From these 160 leads, I sold only one tripwire ebook for $9. So I spent about $85 and made $9. Obviously that is a money-losing (in the short term) proposition.
In the longer term, as these leads go through my email sequence, they will be pitched a $100 course and a $57 course, so there are other opportunities there for them to convert to customers, but I won’t know those results for another two months or so, as I have a longish nurture sequence that includes these pitches.
Takeaways From the Lead Ads Result
While running the ad, I kept tabs on facebook ads manager results and noticed that the over 55 years of age demographic was costing me $1.40 per lead, so I tweaked the age range on the ad and removed them from seeing it.
I also wished I would have done an A/B test on different images and headlines to use for the copy on the ad. It is possible changing either or both of those may have gotten me leads more cheaply.
I am also disappointed that my tripwire product is converting at such a low rate. I only send out one email pitching it, about six days after they sign up and have received two nurture emails (and received one free ebook, the lead magnet they get for signing up for my email list through the lead ad). So, more to experiment with there to see how I can increase that conversion.
Finally, my setup is not detailed enough to track which leads came in through this facebook lead ad, so if one of them does buy one of my courses later in the email sequence, I won’t actually be able to confirm it was from the fb lead ad campaign. So I need to implement better tracking from the facebook ad via zapier (maybe do tagging in the zap for these leads).
What’s next? I plan to use a ContentUpgrade.me lead magnet in my next blog post and see how many organic email leads I can get through it. Stay tuned!