Building a Facebook Lead Gen Campaign

Building a Facebook Lead Generation Campaign

A step-by-step guide for generating life insurance leads efficiently

Social media is a need-to-tap resource when it comes to lead generation. And at the pinnacle of platforms is Facebook, home to over 3 billion active users. found that Facebook is the most commonly mentioned platform for financial information, and its share of those who use it for financial purposes increased from 53% in 2019 to 64% today. LIMRA’s 2022 Life Insurance Barometer Study The best part: It’s not just one demographic engaging. The study found that 81% of Gen Zers, 75% of millennials, 48% of Gen Xers, and 57% of baby boomers use it for financial purposes.

Use this guide to tap into these users through lead generation campaigns.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Step 1 Understand how Facebook advertising works

Benefits

There are a host of benefits to advertising with Facebook, including access to:

Granular targeting Using device IDs, personal information, pixels deployed across the web, and more, Facebook has one of the largest marketable identity graphs on par with Google.

Self-serve Ads Manager As one of the more mature advertising platforms, Facebook Ads Manager is flexible enough to serve both individuals and large enterprise businesses.

Unrivaled scale Facebook reaches 3 billion users globally on multiple apps, including Facebook, Facebook Messenger, Instagram, and Whatsapp.

Identity data = ad serving data

Identify data is information that you can use to target your ad to specific users at a granular level.

ø People you are connected tñ ø Websites you’ve visiteæ ø Physical locations you’ve visiteæ ø Probabilistic interest segmentatioä ø IP address of everywhere you’ve used Facebook

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

How the Facebook ad auction works The Facebook app platform is an auction format. So whoever has the highest bid essentially wins. However, Facebook wants to maximize user engagement, which is how they make money. Below is a simplified version of the formula that Facebook uses.

MAXIMIZING ADVERTISER VALUE

OPTIMIZING CONSUMER EXPERIENCE

Advertiser Bid

Estimated Action Rates

Ad Quality

TOTAL VALUE

Your bid for the event you selected as your optimization

What’s the likelihood that an impression shown to this person

How interesting do we think this

The ad with the highest Total Value wins the auction

individual is going to find this ad? Is this a high-qquality ad?

goal – i.e. your desired result

will lead to your desired result?

and shows to the indiviudal.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Step 2 Get started with Facebook advertising

Ready to get started?

You’ll need a Facebook account. If you already have a personal account, it’s fairly easy to add a business account. And we recommend keeping your business and personal accounts separate. Once you’ve created your business account, use this section to navigate the first steps of Facebook advertising and learn how to generate leads.

Your two managers

Facebook Business Manager This is your command center. It’s here that you can manage your business page and multiple ad accounts.

Facebook Ads Manager This is where you can manage individual ad accounts. It’s part of Facebook Business Manager.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Setting up your account

Follow these instructions to set up your account.

1. Go to www.facebook.com/adsmanager.

2. Under Manage Business, select “Business settings”.

3. Select “Create business”.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Create your business account in Business Manager. You’ll need your business/account name, your name, and your business email.

Confi 5.

rm your email address.

Once your email address is verified, you’re ready to set up your first campaign. 6.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Step 3 Set up your campaign

The great thing about Facebook is that they make it easy to create new campaigns. Before you create a campaign, it’s good to understand the two types of campaigns, depending on which stage of the funnel you’re targeting.

Two types of campaigns

Awareness If you’re targeting the top of the funnel users who don’t know much about life insurance or your brand, you’ll want to focus on education, generating demand, and expanding your reach.

Direct response For your more educated users who are ready to buy, you’ll want to focus on direct response (lead generation) to convert those users into buyers.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Getting started

To start building your campaign, head over to Ads Manager and follow these simple steps.

Select the green “Create” button on the left side of Ads Manager. 1.

2. In the popup window, select the Leads campaign objective.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Name your campaign, choose auction as buying type, continue with lead generation optimization, and click “Next”. 3.

Name your ad set. Choose “Instant forms”, and select the appropriate Facebook page in the drop-down. Select either daily or lifetime budget with the amount, and set the schedule. 4.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Create your audience or use a saved one. Advantage+ Placements are recommended as it gives you the most liquidity for your budget. 5.

Name your ad, and ensure that it’s still tied to the correct Facebook and Instagram. Upload your static of video and include your copy and landing page display link and any URL parameters you’d like to use. 6.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

7. Now you can publish your campaign.

Here’s an example of how a lead gen ad will appear on Facebook. 8.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Accessing your leads

Here’s how to see the leads generated from your ad.

1. Go back out to Business Manager, and then go to All Tools.

2. In All Tools, select Instant Forms at the bottom of the page.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

3. Now you’ll be able to view all of the leads you’ve generated from your ads. From here you can download your leads into an Excel document.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Campaign reporting

From the dashboard in the Ads Manager, you’ll be able to see the performance of your campaign. Here you can see the:

Cost per result Based on your spend you’ll see the cost per result.

Results This is what you’re targeting for your campaigns, for example, users who click to get a quote. Quality and engagement score This is a general sense of how your ads are performing compared to other ads targeting the same user. If your score is low, you may want to adjust your creative or copy.

Reach This is how many people saw your ad.

Impressions This is the number of times the ad was shown.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

If you’d like more granular information, you can go to Ads Reporting. This allows you to see a more advanced dashboard. If you’re just starting out, the dashboard above should be enough information, however, this is here for your use as you get more experience.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Facebook ad policies Facebook uses a combination of automated and manual review systems to check that ads comply with Facebook’s advertising policies. Advertisers may not create lead ad questions to request the following types of information without Facebook’s prior written permission.

] Account numberM ] Criminal histor\

] Race or ethnicit\ ] ReligioR ] Sexual orientatioR ] Prefill questionM

] Financial informatioR ] Government issued IDM ] Health informatioR ] Insurance informatioR ] Political affiliations

] Trade union membershi` ] Usernames or passwords

See Facebook’s full ad policy.

Reviewing your content Facebook uses a combination of automated and manual review systems to ensure ads comply with their policies. And automated systems may mistakenly flag an ad.

Ad rejected? You can appeal and request manual review.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Facebook ad hierarchy Knowing how to set up your campaigns helps you reach the right users and gives you more control over your ads. The structure to the right allows you to set the campaign objective, ad set targeting, and modify creative at the ad level.

OBJECTIVE

CAMPAIGN

AD SET

ADS

Online life insurance leads

$10-150 cost of lead, depending on quality and source

90% leads that don’t convert in the first 24 hours

Tip: We recommend constantly generating leads to nurture that will eventually convert to future customers.

Cost vs. quality

Conversion rates vary greatly depending on the level of granularity with targeting. Bidding on a broader audience may cost less, but the quality may be lower. Knowing your funnel and optimizing the unit economics that make sense for your business will help you succeed with Facebook ads.

Quality

100

Cost

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Step 4 Target the right users

To create a custom audience, follow these steps:

1. Select “Create a custom lookalike audience.”

Next, you’ll choose “Customer list” from the custom audience source menu. 2.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Upload your document.

Select “Upload & Create”.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Next Facebook will hash your clients’ identities. This means they’ll code them, so that none of their personal data is stored.

Your custom audience has now been created.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Step 5 Optimize your campaigns

Use these tips to increase your campaign performance.

Know your funnel

Sample funnel

Return on ad spend Return on ad spend, or ROAS, is a metric used by marketers to determine the efficiency of their campaigns. ROAs can be calculated by taking total revenue from a channel like Facebook and dividing it by the total ad spend (cost).

1,000,000

$0.01

IMPRESSIONS

0.2% Conversion Rate

2,000

CLICKS

5% Conversion Rate

100

$100

LEADS

10% Conversion Rate

$1,000

CONVERSIONS

Let your campaign bake It takes time for the Facebook algorithm to optimize ad serving to your audience. The more data Facebook receives on the campaign, the better it’s able to optimize.

2 50 optimization events needed before a campaign exits the learning phase weeks recommended to let your campaign bake

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Increase landing page conversion rates

A few recommendations: Move calls to action above the foll Optimize how quickly the site loadt

The average conversion rate of landing pages is 1%. But small changes can have a big impact on conversion rates.

Incorporate symmetric messaging (e.g., using copy and an image that aligns with your visitors’ intent)

EXPLORE

Understand the Facebook ad campaign lifecycle

Over time, campaigns become stale and performance will start to drop. Refreshing and testing new creative, copy, and audiences helps keep campaigns fresh.

EXHAUST

EXPLOIT

Signal Signal refers to the data that’s sent back to Facebook to help optimize campaigns. The more feedback Facebook receives, the better the Facebook algorithm can optimize campaigns.

BUILDING A FACEBOOK LEAD GENERATION CAMPAIGN

Your marketing asset toolkit Here are some free tools that you can use to uplevel your Facebook marketing.

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