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July 7, 2014

How to Turn Facebook into a Lead Generation Machine Pt. 1

The effectiveness of Business-to-Business (B2B) marketing on Facebook has been a controversial subject, with marketers seeing it as a waste of time and money.

With the right strategy and content this need not be the case.  Facebook ads may take a little more effort than a typical Business-to-Consumer (B2C), but that has always been the case with B2B.  Sales cycles are longer, but the profits are bigger.

A large, well-known Enterprise B2B software company, getting frustrated with the performance of their social media advertising, collaborated with Clickable to come up with creative solutions to make this all work. Both parties recognize the untapped potential of social to drive qualified leads.

The results speak for themselves. After 18 months we delivered the following results:

•           Completed over 2,000 unique ad combinations in 450 different campaigns.

•           Acquired 18,000 new targets leading to over 500 new opportunities.

•           Decreased Cost Per Lead (CPL) by 37%, while eliminating 75% of disqualified leads

•           Generated over 500,000 engagements on key pieces of content.

CPL

A sharp decline in CPL was possible through iterative testing and optimizations. During this time we developed some tactics that can work for any B2B brand.   Over the next few weeks we’ll be releasing them for you on our blog.

Tactic #1: Determining Your Audience and Tailoring Your Content

The key to running a successful B2B campaign is getting quality content in front of relevant audiences.

Why don’t you do this – match your content to your targeting.  If you have a guide on social media marketing, match that against people who read Mashable and have marketing job titles.  For a buyers guide, target people who have budgetary control like senior marketing managers

You can blanket target general marketing interests and generate leads.  But if you do that you may end up just wasting money on unqualified leads.

A good indicator to see if you’re over reaching is to look at reach.  If you know there are around 1 million potential buyers in the US and you are reaching 2 million people, you need to start narrowing down your audience.

In our case, we knew there were 2 – 3 million potential decision makers worldwide.  By narrowing our targeting down to this range, we prevented wasteful spending and ensured our ads hit relevant parties multiple times.

 Graph 1

Tactic #2: Piggyback On Other Channels

Nurture tracks are commonly used in email marketing.  With Facebook custom audiences, you can piggyback on your email content with Facebook ads.

You can build out your own progression, or follow your existing email campaigns.   This can be particularly useful at late stages where you want to the buyer to have your product in mind.

What if your social campaigns aren’t pushing people down the funnel?  Chances are they are affecting your open and click rates.  Run a test by uploading 50% of your email list and compare the results.

For existing customers, you can upsell new products or content that boosts retention.  One of the best examples I’ve seen for client retention was a guide to defending and growing your marketing budget.

The key here is to be on top of your exclusion lists.  Opportunities should NOT be seeing content for new leads and vice versa.  It is easy to get disorganized here, but the extra time is worth it.

Click here to see how Clickable can supercharge your Facebook Ad Campaigns 

Let us decrease your cost of acquiring a customer and help increase your conversions

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