4 Tips to Get Quality Leads from Facebook Ads

You can be the best advertiser, but if the quality of leads you receive is poor, you’re fighting an uphill battle. Quantity matters, yes, but not at the expense of quality. Do those leads translate into sales, or are they mere numbers?

Recent studies have shown that 96% of website visitors aren’t ready to buy, and 80% of the new leads don’t turn into sales–especially if you’re B2B. That’s why increasing your lead quality will save you costs and increase your profit.

This article will explore the delicate balance between quantity and quality, offering tips on how to pinpoint new leads that genuinely matter and consequently trim costs on Facebook.

Why Facebook Lead Quality Matters

79% of the marketers in a study conducted this year set generating high-quality leads as a high priority. There are several compelling reasons why prioritizing lead quality over lead quantity is paramount for your business’s success.

Firstly, lead quality directly impacts your conversion rate. When you attract high-quality leads, they are more inclined to engage with your marketing, whether responding to messages, scheduling meetings, requesting demonstrations, or ultimately purchasing your products or services.

Secondly, prioritizing lead quality serves to decrease your customer acquisition costs. High-quality leads are inherently more cost-effective to acquire and nurture than their lower-quality counterparts. They require fewer resources from both marketing and sales teams, thus resulting in lower expenses while yielding higher revenue streams.

Furthermore, focusing on lead quality significantly enhances the lifetime value of your customers. Not only are high-quality leads more likely to make initial purchases, but they also tend to exhibit greater loyalty to your brand. 

They are predisposed to making repeat purchases, thereby increasing their overall value to your business.

Lastly, focusing on lead quality contributes to enhancing your brand’s reputation. When you attract high-quality leads, they are more likely to trust your brand and provide positive feedback. Moreover, satisfied customers become brand advocates, spreading the word and bolstering your reputation within your industry and market (and they’re a great source of user-generated content!). 

This positive perception attracts even more high-quality leads, thereby perpetuating a cycle of growth and success for your business.

Facebook Ad Lead Quality vs. Quantity

Facebook ad lead capture is all about juggling lead quality versus quantity. Some advertisers are all about the numbers–the more leads, the better the chance of conversion, right? But let’s face it: while quantity has its allure, the logic isn’t always so straightforward. Now, those logical flaws might truly pack a punch when it comes to your business’s bottom line.

The Ads Library, for instance, provides a comprehensive view of all active ads, offering insights into competitors’ strategies and helping advertisers assess both the quality and quantity of leads.

Lead quality serves as a critical metric, gauging a potential lead’s relevance, interest, and readiness to engage with your product or service. 

High-quality leads embody people with a genuine need for your solution, who, in most cases, possess both the budget and authority to make a purchasing decision while actively seeking out providers. Conversely, low-quality leads lack alignment with your offering. They show little intention or ability to purchase and often remain disengaged from your marketing.

On the other hand, lead quantity refers to the sheer volume of leads generated through your marketing. The glamour of a large lead pool may seem enticing, offering ample opportunities to promote your product or service.

However, the sheer number of leads doesn’t guarantee a proportional increase in the number of customers or revenue. Without proper qualification, these leads may fail to convert into sales, resulting in wasted resources and efforts chasing after unfruitful prospects. 

If you’re sold on getting quality leads, keep reading because you don’t have to leave the quality of your leads to chance; you can play an active role in improving it.

4 Tips to Improve Lead Quality and Reduce Cost on Facebook

Now that you understand the importance of considering lead quality, you’re probably wondering how to generate these high-quality leads from Facebook. Let’s get down to business with some actionable tips you can immediately implement as part of your marketing strategy.

#1 Stack interests for targeting

The concept of “stacking” interests involves incorporating multiple interests into the Detailed Targeting field in the Meta Ads Manager.

However, it’s crucial to recognize that your ideal customer profile (ICP) isn’t necessarily as straightforward as you might assume. Your target audience likely possesses a variety of interests, and these interests often intersect. 

Instead of single-interest targeting, stacking related interests can help you create a larger audience, which gives Meta more room to find prospects for lower bids, which reduces your CPL. Moreover, when stocking interests in a single ad set, you minimize audience overlap, which might occur when targeting interests in different ad sets.

For instance, if you’re promoting fitness products, you might combine interests such as “gym,” “yoga,” and “healthy eating” to effectively reach a broader yet more specific audience.

#2 Address your ICP’s problem in your creative

The second crucial step in enhancing your lead quality revolves around tailoring your content to resonate deeply with your ideal customer. Keep in mind that your ICP likely grapples with specific challenges or pain points, and your ads should tackle these issues head-on. 

Craft your content to attract, educate, and engage your target audience effectively. This requires a delicate balance between creating content that directly speaks to their unique needs, interests, and inquiries while showcasing your expertise and reinforcing your credibility and distinctive value proposition.

Start by identifying your ICP and creating different personas that fit it. You can even give them names or base them on your most valuable customers or clients.

Then, you should understand their most significant issues. To do so, you can ask your customers what problems they want to solve with your product or service. You can also do keyword research to understand what your prospects search for and see which issues they mention in Facebook groups, X (Twitter) threads, and Quora or Reddit forums.

Now, you should ask yourself how you solve their problems and address this exact point in your ads. You must test multiple angles in your ads, addressing different issues with various types of messaging. You can never know which Facebook ad would work best for your audience. Only testing will tell you that.

Here, you can see a perfect example of nailing your prospect’s issue in your creative. Who doesn’t have a ton of items at home they never used and will never use? The message is clear, and so is the solution offered.

#3 Ensure you have a strong offer

While it may seem like a no-brainer, the importance of a compelling offer is often underestimated. Yet, it wields considerable influence in shaping the quality of leads you attract. Whether you’re offering a discount, a free trial, or exclusive access to valuable resources, your offer must exude irresistible appeal. 

With well over 200 million active businesses on Facebook–many of them competing with you over the same audience – you must make your offer stand out.

Take, for instance, the ad below, which offers a free garden estimate to generate signups. Giving your prospects value for free is a great way to show them your professionalism and gain their trust. That’s an excellent example of an irresistible offer.

Take a moment to compare the offer with competitors’ offers. Is there a unique angle you can explore to separate yourself? Engage in honest internal dialogue. Ask yourself why potential customers should choose your offer over competitors’ offers. If you struggle to answer this question, it’s a sign that your offer may lack sufficient differentiation. 

An outstanding offer should spark a sense of excitement in potential leads and motivate them to take immediate action.

Refine your strategy until you can articulate its distinct value proposition with clarity and enthusiasm. Highlight the benefits of your offer, and don’t forget to infuse a sense of urgency. You want conversions today, not next week, after all! 

#4 Use Facebook lead forms to decrease the bounce rate

Facebook’s lead forms simplify the process for users to submit their information. Using these forms removes the hassle of navigating to an external landing page. 40% of prospects will bounce out of your website if it takes over three seconds to load, so you better not risk it.

Beyond easing the user experience, it also facilitates efficient data collection for businesses. With pre-filled information from users’ Facebook profiles, businesses can gather accurate data more effectively. Moreover, don’t forget that in the post-iOS14 era, keeping all interactions within the Meta realm ensures no conversion data is lost when users leave the platform and go to your website.

Therefore, Leveraging Facebook lead forms can decrease your cost per lead and increase your lead quality.

To maximize the effectiveness of Facebook lead forms, keeping the form fields concise and relevant is crucial. Let’s be honest: Nobody enjoys filling out forms, so aim to make them as painless as possible to ensure users complete them without feeling overwhelmed. 

Pro tip: If you qualify leads right from the start, consider using high-intent forms on Facebook to filter out lower-quality leads.

Moreover, customizing the thank-you message or the redirect after form submission can further enhance the user experience.

Once a user submits a form on Facebook, their journey doesn’t stop there. A simple thank-you message holds significance as it not only confirms the success of their actions, but it’s also your chance to give them a friendly nudge toward what’s next. Think of it as buttering them up for more engagement from you 😏

How to Measure Facebook Lead Quality

Once you implement all the above tactics, you must ensure they pay off. That’s why you need to understand how to measure your Facebook lead quality and see that it really increases.

These are the key metrics for measuring lead quality effectively: 

Conversion rate: At the heart of lead generation metrics lies the conversion rate, a pivotal indicator revealing the percentage of users who have taken the desired action—whether signing up or downloading—out of the total audience exposed to your ad. The average conversion rate for lead-generation campaigns on Facebook is 8.25%, but it changes by industry. Compare yours to your industry’s average and what you achieved with previous campaigns to measure your success.

Cost per lead (CPL): The cost per lead reveals your acquisition efficiency. By dividing your ad spend by the number of leads garnered, you gain insights into the cost-effectiveness of your Facebook ad campaigns. You should aspire to lower your CPL – but ensure your ROI/ROAS and customer LTV remain high. Otherwise, you might be acquiring cheap leads but not high-quality ones. To give you ballpark figures, the average Facebook CPL is between $5-$8, but it greatly differs over the year and by industry.

Click-through rate (CTR): A vital gauge of your ad’s effectiveness, the CTR quantifies the percentage of users who have engaged with your ad by clicking through. A higher CTR suggests that your creatives and messaging are hitting the nail on the head with your target audience.

Lead quality score: To dive deeper into lead quality, implement a lead quality scoring system. This entails assigning scores based on various factors such as engagement level, demographics, and actions taken by leads. By prioritizing and nurturing the most promising leads, you can enhance the overall quality of your lead pool.

ROAS/LTV: ROAS itself is essential, of course, but dividing it by the customers’ LTV gives you the actual value of these leads. If they drive a high ROAS at the beginning but churn quickly, for example, they might not be as valuable as leads who stick with you longer and generate continuous revenue for your business.

Conclusion

As we wrap up our exploration of Facebook lead generation, take a moment to reflect on your current approach. Are you prioritizing quality over quantity? Are your offers truly irresistible? 

Take the first step today toward transforming your lead generation strategy and getting better quality Facebook leads. By carefully considering these questions and implementing the tips and best practices provided, you’ll be well on your way to maximizing the potential of your Facebook ads.