~ HOW TO SLASH YOUR LEAD COST BY UP TO 90.97% ~
Over the past few months, I’ve been working with a client on Facebook lead generation for their affiliate email marketing campaign.
When we launched the campaign, we saw astronomical lead costs. On looking back at the daily costs, the lead cost was at it’s highest at $10.53 per lead, but in real time, those numbers ballooned upwards near $15 per lead.
This was not acceptable, for either myself or the client.
We quickly began to split test.
The first element that we tested was the landing page the client had provided. There were a few elements that helped with bringing down the cost per lead a significant amount.
The first change on the landing page was making the buttons more accessible, making them available on the page before the user would have to scroll as well as color matching with the image.
We then spent some time fine-tuning the copy on the landing page as well, focusing on the benefits of the offer, a free niche specific eBook.
The next step was adding in social proof. This was a zero brand. Absolutely from scratch. The Facebook page has only a couple likes, there was no associated website or public presence. This meant we, technically, didn’t have any social proof.
The client had taken screenshots of niche specific quotes from industry leaders about the topic, so we decided to utilize these quotes as a form of social proof. This meant that, when the user would scroll the page, they would see a variety of quotes from industry leaders about the topic.
The combination of accessible buttons, focused copy and social proof, combined with some formatting edits, reduced our lead cost from $10.53 per lead down to $3.57 per lead.
Still not good enough.
It was time to split test the advertisement.
The first element I tested was the image. The client and I collaborated to identify a selection of images that we would test.
I then tested each variant to see which were the best responders. This brought the cost per lead to approximately $2 per lead.
I also tested a variety of different targeting options, finding the best performing targeting and then consolidating those phrases into one individual ad.
Over the course of the campaign, I tested a variety of different variations of the ad, playing with the copy, testing new images, testing new headlines and audience variations to find the best performing version.
The cheapest cost per lead that I was able to accomplish was $0.95.
However, for full disclosure, I was not able to maintain that cost per lead for the remaining life of the campaign.
If you would like to reference the title, this is where the 90.97% reduction occurred, from $10.53 per lead down to $0.95 per lead.
The campaign stabilized, with the majority of the leads generating at $1.48 per lead (85.94% reduction), $1.77 per lead (83.19% reduction), $1.80 per lead (82.90% reduction) and $1.92 per lead (81.76% reduction).
This campaign generated 804 leads.
So here’s my question to you.
Are you split testing yet?
By: Elisha Israel