In order to understand why you are not getting leads we need to take a look at the data and give us the determination of measurement on the reason why your campaign has either lost traction or didn't pull any weight to begin with.
Potential reasons why you are not getting enough leads
1. Your audience is currently fatigued. They have seen your offer too many times and now are not reacting to it anymore.
2. The campaign lost traction. It was working for a while and started to not work anymore. Could be because of audience fatigue but costs have creeped up, and it is more expensive to acquire a lead thus you are getting less leads within your budget. (if your CPA is $5 per lead and your budget is $1,000 then you will get 200 leads but if your cost went up to $12 per lead and your budget is still $1,000 then you will get 83 leads). ($1,000/$12)
3. If you didn't happen to get any leads from the campaign, it could be a variety of reasons. Your offer sucks, people are not responding to the offer, your ad creative is not attracting people's attention. They overlook your ads. You could be targeting the wrong people. The offer is great, and the ad is amazing, so you are getting clicks out of curiosity but no one is taking action because they are the wrong market to begin with.
Understanding this will help you be able to make better decisions on how to improve your marketing campaigns.
You don't have to just always pull the plug on an offer, it could be a great offer, just look at the data and this will help you make a better decision on what you should change to improve your performance.
In the image above I can see that this particular ad did not get any leads yet. It shows about $11.43 dollar spend and had a reach of 971 people with 1,275 impressions.
It shows that it received 7 clicks. So based on my history if this campaign normally gets at least 3 sign ups from 7 clicks there is a potential that this ad may not perform well so I may need to pause it and redirect my budget to a better ad and ad set.
Being able to read data and very important in helping you understand what decisions you should make to a campaign.
IS THE AD RECEIVING ANY CLICKS?
Click Through Rate, is the most determining factor we use to make decisions on whether or not an ad will over-perform or underperform.
You can see very clearly that it plays a HUGE role in cost and also acquisition quantity.
The Cost Per Link-Click above generated him a $0.28 cent click because of his 3% CTR. Therefore you see how important CTR is in determining costs. The more clicks to the page, the more leads. The more leads within the set budget the more cheaper the leads will be.
Focusing on optimizing the Click-Through-Rates helps increase the overall performance of the campaign to start generating more leads, more clicks, at cheaper costs.
getting leads but not many of them
Your campaign is getting leads but you are not getting that many.
1. Are you optimizing for conversions?
It's very important to have your campaigns set up to optimize to get you conversions. By doing this, it will help Facebook understand what it should do for you to get you more leads and if you are getting traction or at least some leads it will be able to show your ads that are most relevant to users who will likely click and sign up.
In the image above we are setting up a campaign to optimize to get more conversions. If we don't do this the only thing we would be able to measure is clicks or landing page views and that is not going to tell me how many leads we are getting and how much we are spending per lead.
I need accurate data to guide me on which ads are getting leads, which ones are not, and how much we are spending so that I can make decisions to increase the performance of the overall campaign.
2. Determine What is your Cost Per Acquisition?
In our case we are determining an acquisition to be a lead. How much are we spending to get leads? This will indicate how many we are acquiring within our budget.
You can see in the image above we are getting leads that cost around $2.83 per lead. We have already acquired 73 leads so far.
So we have spent $206 dollars. So if we continue at this rate, we should be able to get 2830 leads at $2.83 cost per lead.
So now I can make a prediction that if I set a budget of let's say $5,000 I should be able to get anywhere from 11,000 - 14,000 leads.
The only problem is my leads will not be $2.83 forever. They will eventually start to get more expensive and there should be a Lead Cost Range. Somewhere between having a $5 lead as a safe zone, and make a determination that we are not willing to spend more than $10 to acquire a lead. If we spend more than that we will pause the campaigns and re-optimize.
So now I have a set goal, I have a set budget, and I also have set my targets. By doing it like this I will not chase lead costs, I will be able to scale based on my targeted CPA and then if I go below the $5 per lead safe zone I will know it's time to start preparing some other ads, and ad sets.
Just like the image above. I suggest writing down your goals. Setting a budget, and predicted CPA that will help you reach your budget. That way you clearly understand what it will take for you to reach your targets.
In the example above. We want to get 350 leads. And this client has a budget of $6k to help him reach those goals we need to set a target CPA of $17.14 or less to reach 350 leads goal within his budget.
So now that you know how much your leads are costing (hopefully), you have two choices.
1. Increase your ad spend to reach your goals.
2. Optimize your campaigns to get cheaper leads within your set budget.
If you want to reach your goals quickly then increasing your budget and optimizing your campaigns at the same time will help.
But if you are on a restricted budget, you will need to do your best to optimize your campaigns, change your images, copy, and text and make it more presentable to your market to get them to click through and sign up.
getting clicks but no sign ups?
In the example above you can see that this campaign received 31 clicks but no sign ups. Even though this is still not enough data to make a final decision on the performance of the campaign because we have seen many times ads not get any leads for days and then all of a sudden start to pick up and get $1 leads.
This however may indicate that we need to make specific change to the campaign.
1. The Landing Page
If you are getting tons of clicks but no one is signing up on your website or landing page. It could likely be a page problem. Are you promising red apples but when they get to the landing page they see carrots?
Another thing you could be doing is targeting the wrong people. Sometimes you could have a solid ad and funnel in place but when they go to the page they don't sign up. They were just curious. They may have thought of something different and wanted to check you out, but when they went to the landing page you didn't give them enough value on the landing page or ad to persuade them to take action.
Measuring your "Landing Page" conversion rate is another part of this process I will go further into on another blog post.
2. You're optimize for Clicks Objective Is Giving You the "Happy Clickers"
I always didn't like this market. The people who click every ad with never having any intention to sign up. We call them the happy clickers and when you do not optimize for leads, and you create campaigns with the sole objective to get clicks or landing page views. That is mostly what you will get.
Because Facebook has an algorithm that says, "we will do whatever you say. If you want more leads, we will try to get you more leads. If you want more clicks, we will try to get you more clicks, and only clicks."
So what it will do is show your ads to the most likely person who will click. That's right... Click...
It didn't say anything about sign up. Just click. And it will show your ads to clickers. Not really the people you want this to be shown to.
Remember to optimize to get leads. And also remember to not tell them to click unless you have given them a "clear" statement of what happens next!
1. How much is your current Cost Per Lead?
If you don't know this answer, you need to find out!
2. What is your targeted # of Leads you want per month?
Write down your targets.
3. How much are you going to have to spend to reach your targeted goal, and what will your Cost Per Lead need to be?
Write this down... Write this down... Write this down.