There is no ideal cost per lead on any platform.
The cost per lead depends on too many factors.
Some of those factors are
- Nature and behaviour of the target audience – on which platform they spend most of their time and with what intention.
- The state of awareness of the target audience – how much do they know about your brand, products/services, benefits, accessibility etc.
- Level of urgency or demand or need in your target audience – how urgently do they need the products or services that you are offering
The answers to these questions will decide whether your cost per lead will be high or low.
If your target audience does not spend much time on Facebook, it will be difficult for you to target them and hence you will get very low or no leads.
If your products or services are new to the market, you have to build awareness about your products or services in your target market. In this case, your cost per lead will be high at the initial stage, but slowly it will start decreasing as the interest starts building in your target audience.
If your products are seasonal and you are running the ads in the wrong season, the demand for your products will be low and your CPL will be too high.
Most of the time, the cost per lead depends on the external factors and you must consider the impact of those factors while planning and running the ad campaigns.
Here are some tips to properly execute the campaign:
- Select your target audience.
- Understand the behaviour of your target audience and their current needs.
- Prepare ad copies based on the above two factors – you have to make sure that the communication is relevant to them and/or their needs, otherwise, you will get a very poor response.
- Check the results at a definite interval.
- Analyse the results, make changes to the ad copy and run the campaign again.
Don’t forget to run the retargeting ads.
Do you want to run profitable digital marketing campaigns for your business?
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