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. At the pinnacle of these platforms is Facebook, home to over 3 billion active users.
According to the 2024 Insurance Barometer Study, 59% of Americans use social media to learn about insurance or financial products, with Facebook as one of the most commonly used platforms.
In fact, nearly one-third (32%) of consumers say they rely more on social media than traditional websites when seeking financial or insurance information. Through Facebook lead generation campaigns, agents can show up as trusted guides in the exact spaces buyers are already using to make important financial decisions.
Use this guide to tap into these users through lead generation campaigns.
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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
Self-serve Ads Manager As one of the more mature
Unrivaled scale Facebook reaches 3 billion users globally on multiple apps, including Facebook, Facebook Messenger, Instagram, and WhatsApp.
information, pixels deployed across the web, and more, Facebook has one of the largest marketable identity graphs on par with Google.
advertising platforms, Facebook Ads Manager is flexible enough to serve both individuals and large enterprise businesses.
Identity data = ad serving data
Identify data is information that you can use to target your ad to specific users at a granular level.
People you are connected to
Websites you’ve visited
Physical locations you’ve visited
Probabilistic interest segmentation
IP address of everywhere you’ve used Facebook
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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 goal – i.e. your desired result
What’s the likelihood that an impression shown to this person will lead to your desired result?
How interesting do we think this individual is going to find this ad? Is this a high-qquality ad?
The ad with the highest Total Value wins the auction and shows to the indiviudal.
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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.
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Setting up your account
Follow these instructions to set up your account.
. www.facebook.com/adsmanager
Go to
1
2 Log into your Facebook account and create a business portfolio:
3 Create your business account in the Meta Business Suite. You’ll need your business/account name, your name, and your business email.
4 Connect your business portfolio with any other account on Facebook or Instagram.
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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
Get affordable life insurance
No-medical-exam term life insurance
Policies up to $2M
$30 /mo from
$500,000
$39/mo coverage from
$700K
$39 /mo
$700,000
from
$54 /mo
$1,000,000 from
Online health questions required. Sample rate: 10-year term life policy for 40 y/o healthy, non-smoking male
Sample rate: 10-year term life policy for 40 y/o healthy, non-smoking male.
Awareness
D irect respons e
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.
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.
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Getting started
To start building your campaign, head over to Ads Manager and follow these simple steps.
1 Select the green “Create” button on the left side of Ads Manager.
In the popup window, select the Leads campaign objective.
3 Name your campaign, choose auction as buying type, continue with lead generation optimization, and click “Next”.
2
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4 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.
5 Create your audience or use a saved one. Advantage+ Placements are recommended as it gives you the most liquidity for your budget.
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6 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.
Then you can publish your campaign.
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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, select Instant Forms at the bottom of the page
2 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.
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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:
Results This is what you’re targeting for your campaigns, for example, users who click to get a quote.
Cost per result Based on your spend you’ll see the cost per result.
Reach This is how many people saw your ad.
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.
Impressions This is the number of times the ad was shown.
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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.
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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.
See Facebook’s full ad policy.
Account numbers Criminal history Race or ethnicity Religion Sexual orientation
Prefill question Financial information Government-issued IDs Health information
Insurance information Political affiliations Trade union membership Usernames or passwords
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.
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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
CAMPAIGN
AD SET
AD SET
ADS
ADS
ADS
ADS
ADS
ADS
Online life insurance leads
90% leads that don’t convert in the first 24 hours
$10-150 cost of lead, depending on quality and source
Tip: We recommend constantly generating leads to nurture that will eventually convert to future customers.
20
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.
15
Quality
10
5
0
75
25
50
100
1
Cost
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Step 4 Target the right users
With the right demographic and behavioral filters, you can reach the right audience.
Facebook allows you to target users by:
Location Age Gender
Interests Language
Education Workplace Device Connections
Relationship status
Setting up targeting
To set up targeting, go to Ads Manager and choose All Tools in the top left navigation. Once there, click on "Create an audience."
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Custom audiences
Facebook allows you to take existing lists (think: happy clients) and upload them. ( ) It will then build something called a “lookalike audience” of other users that match the demographic information Facebook has on the users you’ve uploaded. Why? Because those types of users have shown a likelihood to convert. Check out this guide for formatting your customer lists.
To create a custom audience, follow these steps:
2 Next, you’ll choose “Customer list” from the custom audience source menu.
1 Select “Create a custom lookalike audience.”
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Upload your document.
Select “Upload & Create”.
3
4
5 Next Facebook will hash your clients’ identities. This means they’ll code them, so that none of their personal data is stored.
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5 Your custom audience has now been created.
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Step 5 Optimize your campaigns
Use these tips to increase your campaign performance.
Know your funnel
Return on ad spend
Sample funnel
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).
$0.01
1,000,000
IMPRESSIONS
0.2% Conversion Rate
$5
2,000
CLICKS
5% Conversion Rate
$100
100
LEADS
10% Conversion Rate
10
$1,000
CONVERSIONS
2 weeks recommended
Let your campaign bake
to let your campaign bake
50 optimization events needed before a campaign exits the learning phase
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.
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Increase landing page conversion rates
The average conversion rate of landing pages is 1%. But small changes can have a big impact on conversion rates.
A few recommendations:
Optimize how quickly the site loads
Move calls to action above the fold
Incorporate symmetric messaging (e.g., using copy and an image that aligns with your visitors’ intent)
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.
EXPLORE
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.
EXHAUST
EXPLOIT
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Your marketing asset toolkit
Here are some free tools that you can use to uplevel your Facebook marketing.
Ethos Resources
Ethos Facebook marketing for agentsV Ethos agent advertising toolkit Ethos digital co-marketing toolkit
Free Resources
Design software: Free stock imagery: Free Facebook eLearning courses: Canvl Unsplas²
Meta Blueprint
Ad research
Facebook ads library:
A comprehensive, searchable database of all ads currently running across Meta products.
You can search based on type of ad, location, and more8 AnswerThePublic:
It listens to autocomplete data from search engines (like Google), and then creates a list of
useful phrases and questions people are asking based on the keywords you search8 Google Trends:
Provides access to a large sample of Google search requests, which you can use to understand
keywords' search volume, seasonal trends, and more.
*Usage of the Ethos name or logo not already pre-approved requires review by the Ethos marketing and compliance teams. For tips to elevate your business, visit the of the agent portal. Research section
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