The Breakdown: New Facebook lead ads update will help advertisers generate quality leads at scale
Exciting news for Facebook advertisers! The company’s just released an update to their lead ads ad format. With the coming change, it will be possible to optimize for a down funnel CRM event instead of a generic lead.
Let’s get into a quick primer on Facebook lead ads, what’s changing, and how you can take advantage of this change going forward.
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What are Facebook lead ads?
Lead ads help advertisers find people who are interested in their products and services and collect data from them, like their name, email, address, phone number, and more. They do this by using an instant form, which displays to collect the user’s data directly on the Facebook platform on click of the lead ad.
Some potential reasons for advertisers to use lead ads are to:
- Discover new customers for your business
- Collect subscriber data for your email or newsletter
- Understand more about what your customers are interested in
- Get customers to sign up for services or programs that you offer
What’s changing: better lead quality, lower costs
In the past, Facebook lead ads have been among our least favorite ad formats due to the low quality of leads. But that’s all changing with this latest update, which will allow advertisers to generate quality leads at scale.
This new update will help you get higher quality leads by pairing lead ads with Facebook’s audience selection and optimization products so you reach the right people.
In the initial beta, advertisers saw the following:
- Drove higher lead to sale conversion rates 80% of the time
- Drove lower cost per lead 42% of the time
An advertiser doesn’t even need to integrate a CRM to make this new update work (even though it is highly recommended). As long as the advertiser can collect the lead ID and timestamp, they can pass down funnel data back into Facebook.
But that’s not all…
There’s more good news:
- The post-iOS 14.5 attribution window no longer applies since this is all 1st party data collected inside the Facebook app
- You can backfill data for up to 7-days
- HubSpot and Salesforce have native Facebook lead ads integrations
Once Facebook receives 7-days worth of data, that will open up the “Sales Funnel Flow” inside of Facebook, and you’ll be able to recreate the sales funnels that exist in your client’s CRM.
Facebook will then give you the ability to optimize for any point in the CRM you want. You can even disqualify people. Facebook will take notice and work not to show your ads to users it thinks will get DQ’d.
Ready to start optimizing down funnel?
This is a welcome change to Facebook lead ads and one that advertisers should be excited about. If you use Facebook lead ads or have in the past, it’s time to start optimizing down funnel!
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