Solar Leads. FB. Video. And CPMs
Hello Solar Pros! It’s Tuesday again so ive cooked up another article on something I hope is interesting and helpful! This week I want to talk about video (as apposed to still images) on FB and share some of what Prospect Bacon has seen.
Video has proven challenging on FB. Your CPMs are frequently MUCH higher which means if your landing pages and other elements of your funnel aren’t on point video isn’t going to produce a cost per lead that keeps you profitable.
CPM = Cost per 1000 impressions, IE what you are paying to show your ads to 1000 FB users. So if it takes 500-1000 impressions to get a lead and your CPM is $70 for a video your CPL is going to be about $70. In that same market, an image with a CPM of $35 converting at the same rate will have a CPL of only $35.
So how can video ever win given those numbers? The answer is a good video, good copy accompanying it, and a landing page that gets the job done without getting in the way.
What Kind Of Videos We Use
We have been playing around A LOT with video at PB. There are 4 main things were trying out and split testing and they have to do with the look of a video and the length.
1. Look = User generated content (UGC) vs. produced content
2. Length = 30 seconds or less vs. 30+-90 seconds.
It’s not rocket science, but these are the variables we’ve been playing around with when writing scripts and shooting video. I would LOVE to share with you what is winning, but for us, video has been all over the place and we’re still experimenting to find out which format works best. (Promise to share more on that when we have some good data that we can draw some conclusions from!)
How Video Wins On FB
Video at it’s best captures attention better, educates more, and converts with less impressions.
And that’s how you win.
Since FB knows that (good) video is more engaging and is likely to drive conversions with less impressions they naturally increase the CPMs on video content.
But, even when videos aren’t the overall winner between all the content were using to get leads it sometimes makes sense to keep it running. Since everything fatigues at some point, one rule of thumb with solar marketing is that the more winning content (video, images, copy, etc.) that you are showing to your audience, the better.
As long as a client is able to get sales at or below their ideal CPS I don’t mind leaving 3 pieces of content running even when there is a clear winner.
IE if I have video bringing in $35 leads and 2 images bringing in $25 leads, as long as the client is hitting their targets I would just leave everything running to combat ad fatigue and keep your audience engaged. At some point this can break…obviously if the video goes up to $50 leads its time to turn it off and retool while leaving my better performing images to do the work.
So, in closing, if you are going to give video a whirl
✅ Monitor CPMs and engagement
✅ Experiment with style & length of videos
✅ Split test multiple copy/headline combos with videos
Until next week!
Drop a message in the DMs if you have any more in depth questions!