The Fastest Way to Lower Your Lead Costs with Facebook Ads (The Key to Profitability and Scale)

Key Takeaways

if you want to learn how to significantly lower your cost per lead with your facebook ads then stick around because that's exactly what i'm going to show you in this video whether you're running ads to a cheat sheet a checklist a webinar or anything else to generate leads for your business most people that i talk to if they're struggling with high lead costs they focus on the same things over and over again new videos new images new copy new headlines changing up the landing page but the truth is none of those things actually matter if you don't get this one thing right that i'm going to talk about in the video and no it's not some fancy click inside the ad manager some option that you can turn on nothing like that this is actually a fundamental piece of generating leads from facebook ads now the reason i decided to make this video is because when i talk to people who are struggling with their lead costs so often it is a familiar story that is they're struggling to get their costs down so they've literally tried everything they've tried all the new videos images copy everything they can possibly think of and they're kind of at the end of their ideas as to what to do next yet most of the advice that's out there remains the same just test more just test new audiences try new things you'll eventually get there but none of it actually makes the really big difference that they're looking for and here's why it's because if you're trying to sell ice to an eskimo or hamburgers to a vegan it doesn't matter how good your marketing is it's always going to be an extremely difficult sell and the same applies to facebook ads if your offer isn't really really compelling then it doesn't matter how good your ads are you're never going to achieve the lead cost that you're actually looking for because if no one wants it then yeah you can dress it up and you can try to sell it as much as possible but it's only going to make incremental tiny tiny differences it's never going to get down to that really low lead cost that you actually want on the flip side if you have an amazing offer meaning a lead magnet the thing that you offer for free in exchange for their email address and or phone number then you can actually get away with ads that maybe aren't that great but because you've got something that your audience really really wants and that is so compelling for the people that you're targeting then you'll actually get a better cost per lead than if you have an average lead magnet and really great ads let's look at it from the perspective of the 80 20 principle right 80 of your results come from having a great offer and 20 percent come from your ads but most people spend 80 of their time on their ads tweaking testing optimizing hanging out in facebook groups looking for the latest hack to get them better performance and only 20 on that offer or that lead magnet generally people will create a lead magnet and then that's it they forget about it they start running ads and they just keep working on the ads if that sounds like you maybe it's time to flip that which leads to the question how do you actually create a really really good offer or lead magnet that you can run facebook ads to here are a few simple steps to do that we'll talk about what makes a great lead magnet meaning the things to look for when you're coming up with ideas and where to find those ideas so how to actually find out what is going to work and resonate with your audience but before we do speaking of resonating with audiences if you are enjoying this video all i ask is that you tap that like button it really does make a huge difference for the channel i can't tell you how much i appreciate it if you do just give it a tap and if you do want to see more videos from me make sure you hit that subscribe button hit that little bell you'll get notified whenever i release a new video on facebook advertising or digital marketing all right let's get into it what makes a great lead magnet well there are four key things that i look for when i'm thinking about different lead magnets or offers to create to promote with my facebook ads number one it has to solve a problem that your audience is actually experiencing so many offers that i see don't actually do this even though it sounds super obvious and i'll talk about some examples really really soon so you can see what this looks like number two the audience actually have to be seeking a solution to the problem meaning they have to know it's a problem and they have to want to solve it now that sounds a little counterintuitive right you're thinking well if they've got the problem of course they want to solve it but this comes back to different stages of awareness some people actually don't know they've got a problem they don't know that something is a problem or they don't know that it's possible to solve you don't really want to target those people you want to create something where it's actually a burning pain people are going this is something that i'm suffering from and i really want a solution to this problem it could be a business problem or a personal problem depending on whatever niche you're in but it's got to be something that they're experiencing and that they want a solution to another way to put it is there's no point offering a solution to a problem that no one cares about maybe they know they've got a problem but they really just couldn't be bothered solving it it's not that big of a problem for them you need to consider that when you're creating your lead magnet the third thing is it has to be easy to consume and apply meaning a 100 page ebook just ain't going to cut it okay you're not going to get somebody to download a 100 page ebook and actually read through it and apply whatever it is you're recommending and if they do it's probably going to take them six to 12 months to do that meaning it's pretty much useless and number four it's got to be quick to deliver a result meaning they can go through this thing whatever it is you're offering it could be a webinar that they spend an hour going through but then they can apply what they've learned get a result within a day or two and actually see the benefits so they're the four key things that you need to make sure your offer or your lead magnet is providing to the audience take a look at this example this is essentially saying hey give us your contact information so that we can reach out to you and give you a sales pitch not very compelling right if you're running ads to an offer like this on facebook and all it says is hey we've got this magic thing pop in your name email and phone number and we can show you what our paid offer looks like you're probably not going to get many opt-ins the ones you do get are going to be people who are already really familiar with you maybe they've watched a bunch of your videos or consumed a bunch of your blog content maybe they'll go and opt into this but it's not going to work on a big scale and it's definitely not going to lead to low cost leads if we measure it against the criteria it's not solving a specific problem there's nothing to actually apply you just enter your details and wait for a phone call and you know it's just going to be a pitch you're not actually getting any value from entering your details on this form right it's not a great free offer or lead magnet at all on the other hand here's an example of an offer or a lead magnet that worked really well for me not too long ago lots of facebook ad accounts were getting shut down and people were stressed out about this they were worried their account was going to get shut down they were talking about it a lot in facebook groups in forums reddit all those kind of places so i created a simple checklist that people could use to help prevent getting their accounts shut down if we consider that against the criteria i mentioned above it solved a problem and it solved a problem that people were actively looking for a solution for there was a lot of chatter about this it was a hot topic and everyone wanted to learn how can i prevent this from happening to me because they knew that there were big business implications for their business if they got shut down it was super easy to consume and apply because it was a checklist and it was something that got results right away they could apply it and then they could feel safe knowing that their account was in a much better condition and much less likely to get shut down than it was an hour before they downloaded that checklist check out this example here it's a cheat sheet for writing blog posts that go viral this is perfect it provides a solution for people who are blogging but they're struggling to get traction or get eyeballs of course they're going to want this cheat sheet to get their post to go viral let's take a look at how this might apply to a webinar if we had a webinar that was titled five fun educational activities that you can do with kids these holidays and it wasn't getting much traction well that may be because it's just not a problem that parents are really experiencing and looking for a solution too on the other hand if we had something like how to get even the fussiest eater to try new foods without bribes or having to hide things inside their food then maybe that would perform better because if parents have got a specific problem with getting their children to eat then this provides the exact solution they're looking for so you can see it provides a very specific solution to a very specific problem and if a parent is experiencing fussy eating from their children then they're going to jump on this as quickly as they possibly can so if you're struggling for ideas as to what am i going to create for my lead magnet how do you come up with these things well the good news is you don't have to do it yourself and you probably shouldn't be just doing it all by yourself off the top of your head anyway yes you know your target audience and you might even say that you are in your target audience but it's still much better to do this in a way where you're sourcing information from the audience themselves and even if you don't have an audience there are ways to do this as well which we'll talk about shortly so the first thing i like to do is brainstorm relevant timely topics so i mentioned to you that one of my most popular lead magnets was around how to prevent your facebook ad account getting shut down that was timely because it was when a lot of people were getting their ad accounts shut down but another one that's happening right now is the ios 14.5 changes have rolled out it's affecting facebook ads and it's a really popular topic i know that a guide on how to manage the ios 14.5 privacy changes as a facebook advertiser is going to be super popular so it's a timely topic if you apply this to the finance space something that i can see happening right now is anything related to cryptocurrency is huge so you see a lot of people in the finance space with things around cryptocurrency because it's something that people want to learn about you know let's say we had a checklist that was 10 things to identify the next popular cryptocurrency that's an example of a timely lead magnet that might work well with that particular audience the next thing you can do is actually survey your audience so if you do have any kind of audience whether it's an email list or social media you can survey them and ask them what it is they're struggling with and what the solution might look like for them in an ideal world this is my favorite way to find new lead magnets and new product ideas and if you want to see how i do these surveys i'll pop a link in the description i'll link up here now so you can see the survey the questions that i use and how i actually set up my surveys and send them out really quick and easy template that you can use there for that including the email template that i use when i send it as well so check the description if you want to grab that for yourself but basically you'll send out the survey you get a bunch of really good responses of people actually describing their pains and what they're struggling with so you can then provide something that actually solves that for them third one is reddit and facebook groups so if you look in reddit in popular subreddits for your niche you'll see common topics of conversation and you'll start to get a feel for what people are really struggling with and then you'll get ideas around what kind of lead magnets you can create that they are going to jump on same with facebook groups jump in facebook groups in your niche and really start to understand what it is that people are talking about most often what it is they're struggling with and look at those problems that you can solve with these sort of simple offers or lead magnets or even a webinar and last but not least you can simply test things come up with three or four ideas create lead magnets or offers around it and then run those and see which ones work best think about that 80 20 principle if you really want to succeed with your facebook ads and getting your lead costs down significantly then it is absolutely worth testing multiple offers or lead magnets when you are first getting started with facebook ads by finding the one that actually resonates best with the audience then when you try to optimize your facebook ads it is much easier because you've got something that they actually want to buy now instead of selling that vegan a hamburger you're offering them beyond meat which is a much much easier sell and like i said your ads don't need to be as good you don't need to be as amazing at advertising in order to get the results you're looking for if you have an offer that your audience just can't wait to get hold of so if you take anything away from this video that is what i encourage you to go and do but make sure before you do it you tap that like button and if you enjoy this channel please hit subscribe hit that little bell so you get notified when i release a new video alright thanks again for watching i'll see you in the next one [Music] [Music] you