This is not a complete question. There are two sides to this question. The question either implies that
- On Facebook, we can reach too many people as compared to Google at the same cost.
- Or, Cost per lead on Facebook is lower than Google Ads.
I will answer the questions based on each of these assumptions.
It is important to note that, the success of any marketing activity can be measured based on the outcome. You may be able to generate more number of leads from a platform, but the effectiveness of that platform can be measured based on how many of them got converted into your final customer.
How faster a lead gets converted into a customer depends on at what stage the lead is in the AIDA model(Awareness, Interest, Desire and Action).
On Facebook, we can reach more number of people as compared to Google Search Ads in the same amount.
On Facebook, we target people based on their interest, demographics, location, age and gender, etc. Facebook marketing is a Push Marketing technique. In this, we assume that the people that we are targeting are interested in the products and/or services that we are offering.
If you are new to the market or your product is new for the audience, the audience will go from all stages of the AIDA model. If you don’t implement the AIDA model, most of your target audiences are going to ignore your ads.
If you follow the AIDA model, and if you calculate the effectiveness, you will find that the Cost-per-Conversion to acquire a customer is closer to Google Ads.
Cost per lead on Facebook is lower than Google Ads.
Google Search Ads is a Pull Marketing technique. We show ads to people who are actively looking for the products or services that we are offering. Hence, it provides highly qualified leads if used in the right manner.
Because of this, many advertisers bid high amounts to get the highest ranking in the ads. This increases the Cost-per-Click and Cost-per-lead.
But, since these are highly qualified leads, you get a better conversion rate as compared to Facebook Ads.
With Facebook, you will generate the leads at a lower cost, but the conversion rate will also be low. With Google, cost per lead will be higher but the conversion will be also high. Hence, you won’t see any large difference in cost per conversion from both of these platforms.
If you want to optimize the marketing campaign for the cost-per-lead, run the campaign on both the platforms.
- Run Google ads and with the help of Facebook pixel retarget people on Facebook who visited your website via Google Ads.
- Run Facebook ads and many of your target audiences will try to validate the information given by you in the ads. For that, most probably they will search about it on Google. Hence, run the ads on Google also to generate these leads.
This way, you will be able to optimize your ad campaign and you will be able to lower your cost-per-lead for the campaigns.
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