What Is A Good Cost Per Lead On Facebook?

Hey There-

I get this question a lot!

A typical lead cost, in a competitive market on Facebook, is between $7 - $10.

That said... my target, in my Reverse Funnels, is under $2.

Quite often, following the Reverse Funnel formula, I can get under $1.

But those results are definitely not typical.

Some other numbers I look at, to determine if a link click ad is successful, are:

βœ“ Relevance Score > 7

βœ“ Conversion Rate (Results/Link Clicks) > 30%

The cost-per-lead is critical in determining whether you are losing or making money with Facebook ads.

For example:

- Assume I am paying $10 per lead and my online course is $1000.

- That means for 100 leads, I spend $1000.

- If I convert 1% of leads (1 out of 100), I just break-even.

- At $5 per lead, I make $500.

- And, at $1 per lead, I make $900.

But I want to caution you against just chasing cheap leads. 

You know the old saying, "You get what you pay for?"

Uh huh!

What you really want to do is work to:

1. Increase conversion rates from 1% (which are the first two legs of The Reverse Funnel and ...

2. increase your lifetime value of a customer (LTV), which is the third leg. 

Then, you can afford to outbid competitors for quality leads.

That is how you really win at Facebook marketing.

Hope that helps, 

Kim

P.S. Remember ... "You're either Green and Growing OR Ripening and Rotting."

There ain't no in-between.

I have a proven plan for hockey stick growth and 3X - 10X profit so you can take more out of your business. 

That is the true bottom line for micropreneurs.

Interested? Learn more here

How to ethically steal customers from competitors

Hey There-

I met a speaker at Social Media Marketing World 2017 who REALLY intrigued me with the concept of super-fans.

Super-fans are the ones who are actively engaging with you long after everyone else loses interest. 

They read your Twitter stream, listen to your podcasts, read your emails, buy your products.

So, maybe you don't have super fans... Yet!

But is there a really successful competitor who has lots of followers on social media? 

Grok this ... Within your competitors following are a percentage who are super-fans waiting for the next shiny object to appear...

Or even better yet... maybe they don't have shiny object syndrome... but that wasn't a fit... or didn't solve their problem... 

So they would jump ship if they found someone who did.

Super-fans are worth more than the average joe who opts in to your lead magnet because they have a higher propensity to buy. 

Plus, they engage. They refer. They try to convert the unconverted.

So how can you ethically attract someone else's super-fans? Without doing a lot of work?

Step 1 - Find someone who already has a large audience of your ideal target market. The bigger their audience the better.

Step 2 - Set up your own link shortening service with pixel tracking

Step 3 - Find popular articles, posts, etc. using tools like BuzzSumo, Nuzzel, Pocket, Reddit, etc.

Step 4 - Share them in the other person's social media groups or tag them in Twitter feeds, with your shortened link.

Important notes about Step 4... 

We use our own link shortener because we can pixel the link clicks for retargeting, without having to create/host content on our site. 

To work, articles must be relevant and genuinely helpful... not spammy! 

Links to your own content are generally frowned on by group owners.

But links to other people's content... even the group owner's best content... with your pixelled link πŸ€“ ... how can they be mad about that???

The goal is to sniff out the super-fans. 

The posts are bait.  

The links are the hook.

The result is you build a valuable custom audience to target with Facebook ads.

Plus... make sure your social media profiles are up to date, as some people will be curious and naturally check you out, without you ever promoting yourself.

As a bonus, hanging in these groups will... 

Help you learn the language your prospects use to describe the challenges they have... 

And clue you in to what they like and don't like about your competitor's solution...

Plus ...

Hopefully, you will discover an angle or twist you can address that makes your offering unique from everyone else.

Make sense?

This is a super useful way to do some list building during the research phase of the Reverse Funnel and beyond. 

This is competitive intelligence... with benefits.

Try it and let me know how it goes. 

But remember... Be helpful. Never spammy. 

And never violate the community rules of the group.

Cool?

Let's get growing, 

Kim

Closing The Doors On VIP Coaching May 1st

Something I wanted to make sure you were aware of ...

https://reverseyourfunnel.com/vip-closing

FYI - I am closing the doors on my VIP 1-on-1 coaching offer effective May 1st.

So, if you want a step-by-step process, that leads you through:

β˜… Getting your audience, offer and hook right

β˜… Driving low-cost, qualified leads with Facebook Ads

β˜… Converting more of those leads into paying customers

And all WITHOUT doing a blog, podcast, social media... or even having a big email list!

So you can...

βœ“ Grow your business without 80 hour work weeks

βœ“ 3X - 10X profit over the conventional wisdom

βœ“ Take more money out of the business... which is the true bottom line

But also, this LAST CHANCE to get 12 months of 1-on-1 coaching with me (up to 5 hours per month... 60 hours total!) to make it happen...

It's not too late - you can still join right now and take advantage of 5 hours per month, of 1-on-1 coaching with me.

kim-snider-reverse-funnel-coaching

https://reverseyourfunnel.com/vip-closing

But after today, I won't talk to you (pester you? 😘  ) about it any more, because it goes away May 1st.

Looking forward to our first call,

Kim

P.S. Remember ... "You're either Green and Growing OR Ripening and Rotting."

There ain't no in-between.

So, let's get growing...

3 Facebook Ad Hacks For Sub-$1 Leads

Hack #1 - Spy on your competition <gasp!>

Use the website adicted.io to look at the ads other people in similar industries are running.

You can see what offers they are making, what creative they are using and what sort of engagement they get.

Hack #2 - Hack the headline

Use Sumo's free Kickass Headline Generator to create headlines for your email subject lines, ad headlines, blog posts...

These may seem hackneyed ... but if they work, who cares?

The key to sub-$1 leads is engagement on your ad ... Views, Likes, Comments and Shares. 

Studies show most people don't click the links before they Share. They Like and Share just based on the headline and image

Hack #3 - Build custom audiences of other people's super-fans using other people's content

One of the bonuses for my Reverse Funnel Workshop is a course that teaches you how to build your own link shortener.

This link shortener allows you to post links to 3rd party content on social media, (meaning not coming to your site) but still pixel all link clicks.

The value of that should be obvious.

But one killer hack is to post links to others people's content, in the feeds and groups of similar interests/celebrities. Doing this lets you do three things...

1. You are posting content that would genuinely be helpful tot hat audience

2. You are testing what content resonates without having to create all that content

3. You are pixelling their most engaged users who might have an interest in you for highly relevant ads.

Pixel_Links_to_External_Sites_You_Share_On_Social_Media.jpg

Β 

This isn't all there is to it, of course.

You HAVE to have your offer right or no Facebook ad in the world is going to convert.

But it's possible. Here are the ones I am running right now ...

Just so you know I eat my own cooking.

sub-1-dollar-facebook-leads.jpg

Good, huh?

Warning! Are You Sabotaging Your Business?

Β 

It is no coincidence our tag line is Do less. Profit more.

The promise of the Reverse Funnel Workshop is that you can grow your online business and 3X - 10X profits without doing a blog, podcast, social media or even having an email list. 

Doing less is not just appealing. It is imperative.

If you are running around like a chicken with your head cut off, creating this content and that …

Throwing a load of crap against the wall and hoping something sticks …

Not only is it exhausting and frustrating... 

Your business is depending on sheer luck.

And luck is a terrible strategy. 

Let me ask you this …

How many different hooks have you tested for your core offer?

Do you know what percentage of that fancy email campaign you paid someone to build you are being opened? 

Do you split test different subject lines? 

What about click through rate? 

What do you do to optimize conversions on your lead magnets and webinars?

Or your Facebook ads …

Let me show you why this matters …

In this video, I give you several examples …

The first is a Facebook ad I am running … it is sending cold traffic to a three video series.

The difference, in cost per lead, between various interests I HAD THE TIME TO TEST, is $5 to $10 per lead!

The second is the three videos I am running them to …

Videos #2 and #3 were not getting any views ... meaning the leads were wasted ... until I HAD THE TIME to review the results and noticed. Once I added the ability to click from one to another ... problem solved.

Similar story with the Long-Ass Email Sequence …

These tweaks matter …. 

If I get 100 leads at $10/ea and only convert 1%, with a $1000 lifetime value, I break even. 2% and I make $1000. 

If I bring those same 100 leads in at $1, like I am doing in the video, and I sell 1 program, I make $900.

I have the Reverse Funnel down to five steps ..

One reason we keep things simple is because micropreneurs don’t have time for anything more complex.

But the other reason is that it is imperative, if you want to grow/profit, that the things you do be the little hinges that swing the big doors ... 

And then you oil the snot out of those hinges...

Since your business is resting on them.

Make sense? Hope that helps.