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With the largest user base of any social network (1.1 Billion) Facebook can be a huge contributor to a company’s lead generation efforts. But how efficient is it? Nanigans recently conducted a study across multiple verticals to discover how effective Facebook is for driving leads and ROI. The results demonstrate how critical revenue-based optimization is when running a Facebook performance advertising campaign.
Across multiple lead generation campaigns on Facebook, day one ROI reached 44%.
The companies leveraged custom audience and interest targeting, a variety of creative elements and Ad Engine’s ROI optimization algorithms. Results are based on delivery of 485 million impressions.
The most effective ad creative leveraged Page post link ads featuring emotionally expressive pictures of males and females (50/50) and captivating copy with a strong call to action. The largest Facebook ad unit (by surface area) in News Feed, Page post link ads allowed the campaign to increase both volume and scale. This ad unit is designed for direct response with two clickable areas leading users to an external domain.
The study participants leveraged known customer data or “custom audiences” to match known customer profiles and create Facebook lookalikes. Interest targeting allowed the advertisers to target users based on both information in their profile, while Topic targeting allowed advertisers to reach users based on terms mentioned in status updates, check-ins and other open graph activity. Both helped to increase impression delivery.
Daypart targeting their audience by time of day and day of the week ensured that they only ran ads when they were most likely to reach and engage their target audience. The Facebook ad campaigns were most effective during the morning and afternoon hours rather than evenings and on weekdays rather than weekends.
By leveraging Ad Engine’s ROI optimization algorithms, bids were adjusted automatically based on real-time ad placement cost and downstream data in order to maximize ROI at the audience level.
For lead generation companies, day one ROI is critical to the success of their campaigns. Facebook lead generation campaigns mature quickly, so Nanigans’ automated ROI optimization algorithms allowed marketers to effectively bid based on expected ROI to immediately reach their highest value and most profitable customers.