Getting leads or getting a lack of leads is normally due to an increase in your cost per lead. Whether you are running Facebook ads and getting SUPER EXPENSIVE leads or no leads at all this blog will help educate you on the possible reasons so that you can take the necessary actions to fix your campaigns!
So take notes!
reason #1: your lctr is too low!
Look at the image below. I am paying an expensive $4.29 per Link Click to get 84 clicks to my landing page. since I am paying $4.29 per link click and it takes me about 5 clicks to get a sign up I am spending about $21 per Lead!!!
This is CRAZY! The CPL is too expensive. So what can I do to fix this and get the Lead cheaper, and get more leads within my restricted budget?
1. The Link Click Through Rate (LCTR) is mainly determined by the Image or Video I am promoting. That image is not attracting my audience so if I change the image to something else I should be able to get my LCTR to about 1%.
My ideal goal for this ad set is to get the LCTR to over 1-2% as that should give me a cheaper LCPC (Link Cost Per Click).
You see my LCTR is over 1% for this other ad set. Thus it gives me a LCPC of $1.47 which is better than last time. Thus for 32 clicks I spent $47 to get 32 clicks to get 6 Leads vs the other campaign spending $4.29 per click to get 84 clicks to get 16 leads spending $352. (remember I am averaging 1 lead per 5 clicks).
So if you understand this, change your image and test other variations of images and you will see your LCTR go up and your costs go down!
Sometimes you may need to change the copy of the ad, and call to action (CTA) that will help increase your LCTR but the most common reason (most of the time) is the image or video of the ad!
reason #2: your funnel needs work!
You see the Landing Page stats at the top? This is showing stats on clickfunnels which is what we use to create our funnels on.
This shows that one of my funnels is converting at about 63%.
So that means that out of 10 people that visit my page about 6 of them sign up!
If you are not getting a conversion rate on your funnel of at least 15-20% you need to fix your funnel. Whatever you are saying in your funnel, you need to ensure that your CTAs on your button are very specific about what is going to happen next if they give you their details.
These are the following things you need to consider fixing on your funnel:
- Your headline needs to solve a problem IMMEDIATELY!
- Call Out a Market that you want to speak to!
- Be sure to give them specific details about what you offer so that there are no questions and they can kindly sign up with a feel of ease.
- Be sure to give value on the landing page. (if you don't what makes them trust you?)
How about we just do this!
You can sign up for my Lead Magnet! It will show you how to create a "Higher Converting Funnel" click to get access!
If you are getting clicks, and no one is taking action on the funnel. Be sure to check to see if it works. If it does work, and there is no sign ups. Then optimize the funnel. Make it convert!
reason #3: they don't know your brand
You could be also in a competitive market. If this is the case then you need to understand something!
This may be the most important thing I type on this blog.
#1. You need to "Build a Relationship" with your audience through Facebook... So that people can get more familiar with your brand, and start coming to you as an authority in your industry.
We are not doing this enough!
More and More advertisers are filling up the feeds with none sense, and trying to get people to sign up for their services.
It makes agencies like ours harder and harder to close clients but...
We still get so many organic leads who sign up directly from our website because of one thing!
PEOPLE TRUST OUR BRAND! They know we deliver results, and they know that we are all about giving value.
This is how you need to set yourself apart from your competitors. You can do this!
All you have to do is deliver content to your market, create a rotation of content, and then give as much relevant value to your market as possible to get them to start trusting your brand and signing up for your services!
For more important information about how exactly to do this, you should download my AIDA Formula where it teaches you exactly how to do this step by step!
You Are a Local Business
How to determine how much you are willing to spend to get a lead, we are going to use an example of a local business. Now the prices, and varieties are all subject to an estimation but this would be a good point of reference to go from that you can replicate to your business.
How Much Can We Spend To Get a Customer
You have a customer who pays you a fee of $500 for your service for the month. He stays with you for an average of 6 months. Therefore the lifetime value (LTV) of him is about $3,000.
So we are willing to spend up to $500 to Break-Even(BE) to get a customer. So that if that customer stays for the second, third, and sixth month we know that we are making a Return on Investment. So we now know our break-even point.
How Much Can We Spend To Get a Lead
So now that we know we can spend up to $500 to break even on one customer. How to determine how much we can spend to get leads?
First, lets say that you can sell 10% of your leads. That means that out of 100 leads you are able to sell 10 of them. These are cold leads, not warm leads. And lets say that you are able to sell 40% of your warm leads, and 65% of your hot leads.
Cold leads are people who are not familiar with you or your brand. Warm leads are people who already know you a little bit, and know they have a problem and are aware that you possibly can solve it. And hot leads are already your customers, who paid you money and also know that you can solve problems. Some of them will purchase other services from you.
So lets say that you can sell 10% on average of your cold leads. So if you got 100 leads that means you on average sell 10 of them.
So doing the math now, you are only able to spend up to $20 to acquire a lead if you are averaging a 10% sales conversion rate from Lead to Sale and if the value of your customer is $500/month. That means that you need to get leads cheaper than $20 per lead to break even!
In the example above comes from one of our clients ads platforms excel sheet. The client has a monthly budget of $1k. That means their break even 2 clients since their client value is $500. So if they get only 2 clients from their $1k ad spend. They break even for the first month and make profit on the second, third month and so on.
Understanding Long-Term ROI
If you can understand the math above, (I know that it can be hard to understand sometimes) that means you know how to accurately measure your break even mark and now you can understand what it takes to scale your FB marketing campaigns.
But how do you measure Long-Term ROI?
Well lets say you get those 50 leads but you only sell 5 of them (since your sales conversion rate from lead to sale is 10%). Then once you sell 5 of them, you put the remaining 45 on your email marketing campaigns. They see content from you for a while and then 4 months later you push them an appointment link in the email and they sign up.
How can you track that person all the way back to the campaign that you paid for and measure a return because now you went from selling at 10% to possibly 20% over the long term length of lead nurturing.
There is a way to do this without having to spending loads of money on tracking softwares. If you're interested I can show you how this works on a private call. Just click here!
Thanks for reading!!!
One of the most important things about getting leads into your gym is the process of the lead! I created this blog for those of you who need the help with understanding your lead process and leaks so that you can fix them as soon as humanly possible!
Recap: How Does This Work?
For those that know, read on... And for those that don't know. Read this really quick. When you create a Facebook ad and you get someone to click the ad they often will go to a landing page that sells them into a opt in. This is called "Getting the Lead." We typically ask them for some small micro-committed details such as their name, email address and phone number. What happens after this is very important if you want to increase the sales of your business by improving the lead process!
Setting the Appointment: The Conversation
When a lead signs up they will get entered into a system or a process.
1. We will begin to email them some content that explains the value of what they signed up for and what is the next step.
2. We will begin to SMS text them to initiate the front end of the conversation.
You see, the SMS is suppose to get them into a conversation that can commit them into being accountable when it comes time for the appointment.
Most people who you call don't answer their phone because they likely don't know who it is! And besides, (at least for me) I won't answer my phone if it is from an unknown number as well. I do not know who this person is, whether they are a spammer or collections agency. It is important to get that initial conversation going to establish accountability.
Setting the Appointment: The Phone Call
Every business model is structured different. But what we most see is after you have gotten a reply from your lead, now you can pull them into a conversation asking them when is a good time to get them on a phone call to discuss their fitness goals.
Get them into a phone call as soon as you can. If not right away! And hold them accountable for the time to chat!
Obviously for the phone call! The phone call is NOT the sales conversation, it is for setting the appointment only!
Anyone in sales will teach you this, and this is also a tactic used in dating...
Appointment Is Set: Follow Up
Once the appointment is set, now it's time for the follow up! This is where most people fail. They do not do any follow ups at all. And expect people to prioritize their program ahead of their own life schedule! This in most cases won't happen because again people look at this as a luxury not as an necessity (even though we know it is an necessity).
They just are not that committed and life often does get in the way! It is up to us on how we move them from setting the appointment to actually showing up!
It is important to add them into a appointment software such as schedule once and let zapier do the work with sending them a personal SMS message from you (via zapier) a day prior, and an hour prior to ensure they have directions to get to your place.
What happens is this increases the chances of accountability. If for some reason they can not show up, then they will let you know and from there you can reschedule them into another date and time.
The strategy used here is not about the SMS marketing, it is about how it is used and what message we use to increase the probability of a show up!
Record Your Numbers
A common mistake among many is they record how many leads they get and sales. But they do not record the process between. Therefore it is hard to make decisions based on the process because there is not data to look from.
You need to record the following and date it on a per month basis on a excel spreadsheet.
3. Appointments Booked /Month
4. Appointments Showed/Month
5. Appointments Rescheduled/Month
6. Appointments No Showed/Month
This alone will give you an idea of what changes you made to help you next month. And if those changes worked or not based on your past. And what you should use or revert back to to optimize to increase your percentages of sales!
Without this data... You may not know what you should do, and how it will affect your performance of your overall lead process up until the closure of the sale.
We are strategic, and we are very very keen on getting specific with our data so that we can make acute judgement calls within our ad campaigns to help increase the overall performance of our marketing!
Facebook marketing has changed in so many ways you may not understand! I am going to give you 6 tips that helps us get leads for our clients today!
The offer that you are going to run, has to match what your target market wants. For example if you are offering people Mango fruits then you need to focus on it's offer.
With your offer you need to be very very specific! You need to offer some sort of deal. A certain number of mangos at a specific price shipped to them in a specific timeframe.
7 Mangos for the Price of 1 Shipped in 10 Minutes! Guaranteed!
You see how the offer is specific. It gives the user a specific thing, in a specific timeframe with an attractable outcome!
The offer is the make or break of the entire campaign. Sometimes the ad is good, funnel is great but the offer sucks, thus the outcome will not produce results!
Going back to the mango scenario, if you are offering mangos then you need to be targeting an audience that has an interest in mangos!
You can use Facebook interests to target people who like mangos, use demographics to dial in who your avatar likelihoods are that like mangos, and of course use a "message" that is going to call out that market!
Again... You have to be very specific. If you are targeting people who like mangos you do not want to call out a message in your ad saying "Do You Like Fruits? If So Then Click Here..." These are the things that will happen...
1. You will unwanted clicks from people who like grapes, apples, peaches and when they find out you sell mangos they will not sign up!
2. You will get unwanted clicks and also unwanted sign ups. People who do not like mangos but will sign up anyway out of curiosity and waste your time! (sounds familiar?)
By targeting the right audience, narrowing defining your message to that audience you will increase your relevance score and acquire better results!
This is a very important part! The front end is most of the time the area that needs the most work and optimization.
Sometimes when you are not getting either enough leads or just in generate traffic to your funnel or page. Most of the time it is because of one reason. The main reason.
Click-Through-Rate. What makes this happen is did the image capture attention of the audience?
That is as simple as it can be. You can have an awesome message but if you didn't even capture the audience's attention they didn't even read it.
Notice the the CTR that had a image that didn't get the attention of the audience produced a low CTR. Thus our ad costs for clicks were more expensive.
And the ad that had a different image, gave us a higher CTR which gave us super cheap clicks. Thus more traffic to the funnel thus more leads.
Your image has to stand out from the noise, and believe me... There is a lot of noise! You have to create, test, and retest images to even get someone's attention. Then the message comes afterwards! Once they read your message then the click comes!
Think about the audience and what they want! The mangos are already cut, already cleaned, and already ready to just be delivered right to your mouth! Look at the image above! You will understand what I am talking about!
This is what the audience wants... I can almost guarantee that the image above will deliver better results than some standard images of mangos.
Because the serving is ready! You can even see the juices! It makes the audience want to eat it right now! It makes you want to order some!
That is what you have to do with your marketing! Hand deliver your results right in front of them so that it is already ready for them to consume!
Video for Marketing? Why Video?
- Monina Perez
Ever wonder why Video nowadays is becoming the primary medium to promote products, engage audiences and boost businesses? Simple, its easy to remember plus watching a video takes much less time than reading a loooong post. This is especially true for someone who has a shorter attention span.
Videos can really help you build more connection to your audience!