This week’s addition to the Solar Lead Gen knowledge base is all about strategy, and a few key parts of our strategy here at Prospect Bacon that make it fool proof to run and manage ads on facebook.When you make a lead gen ad on FB it WILL NOT run itself. You will have to make changes, pivot, kill campaigns, and figure out new ways forward to succeed. Let’s talk about that!
Who am I?
BTW Im Tim, I run the FB side of things for prospect bacon. We bring in leads for our clients so they can grow their businesses. Each week I get to share part of what has made us successful with the hope that YOU can use it to grow YOUR business.
If you want to be successful with FB ads and have leads dropping in your inbox all day you are going to need at least 6 things.
3 images or videos and 3 pieces of good copy.You’re also going to need 2-4 good headlines.You need that many variations BC you will test each copy/image (or video) combination until you nail the KPIs you are happy with.
The only way to test is to spend money so let’s talk about how much and then we’ll talk about KPIs.There is no set dollar amount you’ll need to spend in order to know if your ad works or not. Prospect Bacon has some internal data from a few years of doing this that suggests that you are going to need somewhere between 1300 & 2500 impressions to get a lead. So you’re going to want 2-2.5 times that many impressions before declaring one combination a winner or loser.
What’s a good CPL?
If you happen to know what a good CPL is for the time of year, and territory you are marketing in, you could also use 2-2.5 times that CPL as a stand-in for impressions when testing.Practically speaking you can go dynamic, or non-dynamic, and put as many creative/copy elements in there as you think your budget can handle. Right now my team and I tend to favor non-dynamic BC it makes it easier to stack engagement on our winning combinations, and assures us that we can see all the data for each combination (unlike dynamic which can be fickle with breakdowns of conversions etc.)
I like to give each pairing of image/copy $40-$60 per day of spend as a general rule of thumb. If you’re testing 3 copies and 3 images that means you have 9 combinations to test to make sure you’ve paired each copy with each image/video. If your budget is $100/day you’ll be able to test 2-3 combinations each day on that budget.Once you have that all set up you are going to wait and hopefully start to see leads pouring in!
But if not, you are going to wait until 2600-5000 impressions (twice that 1300-2500 range that we talked about earlier) and then turn off one of the combinations and start testing another.
What are the most important KPIs?
Let’s talk about KPI’s (Key Performance Indicators). The two i’m going to focus on today are Cost per click (CPC), and Click Through Rate (CTR%). These aren’t the only important ones but they are pretty important.
Cost per click (CPC) on FB should be in the $1-$3 range. Could be a little cheaper, or a little more expensive depending on market, and time of year as well as how well your creative/copy combos are landing with your audience.
Click-through rate should be north of 1% ideally. Monitoring CPC & CTR will help you gauge how your audience likes your copy/creative. If your CTR is amazing, and CPC is low you have a winner on your hands. Now, if you aren’t getting the conversions that you want, you might want to look at your landing page as the possible culprit, but that will have to be a post for another day.
If you have a good converting landing page, have KPIs that look good, and follow this strategy for testing your copy/creative combinations you are putting yourself in a really good place to start pulling tons of leads for your business off of FB.All of these posts have one thing in common. (No, that’s not what I meant, how rude) Ahem..and that is that I cannot include each and every detail for each detail. Otherwise this would quickly become some kind of course.
These are meant to be some guiding principles to get you started. Once you get off the ground you’ll realize that there is a lot more to learn. But you’ll (probably) also realize that sometimes you just set your ads up once and they run for two weeks with no problems!
Point is, I do think that a determined business owner can do their own marketing. BUT if they don’t plan to do it forever, I recommend not doing it at all and just focusing on what you are best at in your solar business.If you want to see what it looks like to partner with Prospect Bacon, check the link out right here: https://www.prospectbacon.com/consultation
I say partner BC we are NOT lead vendor. Yes your Leads are exclusive, and we don’t white label anything. We also don’t just take your money and send leads to your email. Your media buyer and account manager will honestly feel like a part of your business if you let them. They will help you with online sales, followups, etc..anything honestly to help you win. Even if you aren’t ready for it now, I suggest checking it out so that once you can make a little investment in your business were on eachother’s radar. https://www.prospectbacon.com/consultation
Until Next week
Would love to hear in comments or DMs what you all want to hear more about. See you then!