Facebook charges by impressions (CPM), not per lead, even though your dashboard shows a cost-per-lead number. You set targeting parameters, Facebook's algorithm finds likely converters, and you pay after every 1,000 impressions served. That cost-per-lead metric is just your CPM divided by actual leads generated.
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Facebook does not actually charge you per lead. There are so many misconceptions about how Facebook charges for ads. Let's break it down in under 60 seconds. Facebook does not actually charge you per lead. It's not like purchasing from a lead vendor. Instead, you're actually paying for impressions. So you give Facebook your ads to serve to people. And not just any people. You dictate the age, the location, and other targeting demographics. And you want people that are most likely to convert into a lead. Facebook knows which action individuals are most likely to take, and we want them to show the ads to people that are most likely to share information that will convert into a lead. Facebook serves your ad to individuals that meet your targeting preferences and that they believe are most likely to take the action that you are looking for, which is convert into a lead. So after Facebook has shown your ad to 1,000 eyeballs or impressions, they then charge you. It's called the CPM. This is a screenshot from multiple different lead generation campaigns. You can see how many leads we generated and what the price per lead was. However, the real way Facebook was charging us was for the impressions. You can see the price that they charge us for every 1,000 impressions for these specific audiences. Follow for more tips.