What To Do When Your Facebook Cost Per Lead Is Going Up

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So what do you do when your cost per lead or cost per purchase or cost per call or cost per whatever it is that you're targeting on Facebook is going up? What do you do? How do you fix that? How do you solve that so that you make sure that your campaigns are healthy and running for a long time? Maybe you've been through this. Maybe you launch a campaign and the cost per lead, the cost per purchase, the cost per anything is fantastic. And then a couple days later, everything seems to go down, right? How do you keep things in check? What do you do to actually solve this and figure this out, right? And that's exactly what I want to share with you guys in this piece of content. Now, with that being said, we're having a live webinar coming up, and you can register by going to 100mwebinar.com. So that's the 100 Million Webinar. And where we're going to be presenting our 100 Million Method, which is our method to create and launch campaigns and scale campaigns, Facebook advertising campaigns that have generated over $100 million in attributed sales and revenue for clients and students. So if you want to learn more about it, go to 100mwebinar.com and you'll be able to register. There's going to be a link somewhere around here as well for you to register. It's free, it's live, it's going to be awesome and a lot of value in there. In fact, some of the stuff that I'm going to share with you guys in that class, people are charging money for it. I'm going to charge you anything, okay? Because I want to give as much value as possible. So let's talk about what do you do when your Facebook cost per lead goes up or when your Facebook cost per sale goes up? Maybe you've been through this. If you run any type of advertising campaign in the past, you launch a couple of ads and they perform great the first day, the first 24 hours and then boom, nothing else happens, right? What happens is that usually the way I see it is that when you launch a Facebook advertising campaign, Facebook usually shows your ads to people that are more prone to convert whatever it is that you're advertising towards. Let's say that you have a conversion campaign and you want to generate a lead for a lead magnet or for a book purchase or whatever, right? So you're asking Facebook, hey Facebook, go bring me leads. Go bring me people that are prone to convert and become leads. So what happens is that Facebook will go out there and show your ads to people that are prone to convert, and they will usually convert right away because Facebook has a lot of data, a lot more data we can think of, of every of their users. So they have kind of these quote unquote virtual persona of each user in the platform. So what happens is that you launch an ad and maybe over the first 1 or 2 days, works great, right? You get great results, you get great cost per lead, and you say, wow, I'm going to keep this running forever. The problem is that after that window, after that 24, 48, 72-hour window, you know, the performance of that ad tends to go down and the cost tends to go up. And then if you keep it running for long enough, meaning maybe a week or whatnot, what's going to happen is that it will equalize itself and it will kind of balance it out. Right? So after a week, you will actually have, depending on your budget, of course, if you're running higher budgets, you can get these pretty fast. But let's say that you're starting at, I don't know, $50 a day or something like that. After a week, you will notice that the cost per lead is actually closer to where it should be, right? So you, my rule of thumb is I launch an ad, I let it spend for 3, 4 days, and then I go in and check the cost per lead, right? I'll go in, check in, after a couple of hours and then I'll go in and check in the next day and then the next day because I'm on top of my campaigns. But still what I want to do is I want Facebook to give me a closer to truth or a more accurate cost per lead. And usually the first day or two, they're not accurate. Why? Because again, Facebook is showing your ad to a lot of people that are prone to convert. You harvest all of the low-hanging fruit and now it needs to get to work. Now it needs to go out there, show it to more people so that it can get you more conversions. Now, that's usually the lifespan of an ad, an ad set, or a campaign. Right? You get great results, and then it goes down, and then it turns back up slowly. This is normal. That's why on my coaching students, I keep on telling them, "Hey, launch a campaign. Let it let it spend its daily budget for two three days, and just wait it out." Because usually what people will do is they'll launch a campaign and they'll stop it, right? Because they're not seeing the results that they saw the first couple days. Those results are not accurate. So what you want to do so again, you want to leave it running for at least three four five days. Until it spends the whole budget for that day, right? So if you launch an ad set at $10 a day, you want it to spend $50 before making a decision. So that's number one, but also number two. So you leave it running for a little bit longer, right? That's— that would be suggestion number one. Suggestion number two, and this is something that I see a lot of entrepreneurs frustrated with and I see a lot of agencies not paying attention to, unfortunately, And I see a lot of people running their own ads getting frustrated by this, is that when you launch a campaign on Facebook, let's say that you launch a campaign today and then you leave it running and then you start getting good cost per lead and then you leave it running, you leave it running, you leave it running, and then you leave it running. And then what you will see is that your cost per lead, cost per sale, cost per purchase tends to go up, start to slowly ramp up time after time after time after time. So if you start at, let's say, a $5 cost per lead, then maybe at this point you might be paying $10, $12, $15, right? And the way we keep things low, the way we keep things pretty in check when it comes to cost per lead and cost per acquiring anything is by actually refreshing creatives. And this is something that not a lot of people do and not a lot of people teach us how to do. They rather be tweaking their campaigns and their targeting and launching new things and whatnot. What we do is we first see what audiences are responding to the offer, right? And then we are proactively refreshing creatives. At our agency, we refresh creatives for clients every month depending on their budget. You know, once they go past $100,000 a month, we refresh every couple days. Okay. And I know it's a decent amount of work. We do have a couple tweaks or a couple tricks and strategies to make this even easier. And that is something that I show to coaching students and I show my media buyers. But the reality is that you want to be proactive when it comes to refreshing creatives. Here's why. Facebook is sold out. The timeline is sold out. The Instagram timeline is sold out. So that means that Facebook needs to keep things pretty fresh. And this is the main difference between Facebook ads and YouTube ads. Facebook ads are making things easier and easier and easier when it comes to targeting. You don't have to overthink your targeting, but you do need to pay attention to your creatives and creatives, meaning the combination of copy, images, videos, and copy and whatnot. Right. So that's what I call creative. You need to be paying attention to that. Now, the difference between Facebook and YouTube is that YouTube, it's a lot more intensive when it comes to targeting because you can micro-target these audiences and channels and videos and whatnot, which is great. And then the creative, once you find a good creative, you can leave it running for months. You can leave it running for months and sometimes for a full year if you want to, right? That's the main difference between YouTube and Facebook and why I think they're opposite in a way, right? They're opposite in a way because on one end, you need to be tweaking your creatives pretty frequently. On the other end, you need to be tweaking your targeting pretty frequently. Now, at some point, both platforms, they reach some sort of equilibrium, if you would, But the main point is this. The main point is that if you're noticing that your cost per lead, cost per sale, cost per purchase was, let's say, at $10 a couple of months ago and now it's at $20, $25, there's a high chance that you're not refreshing creatives often enough. One of the ways that we do, one of the strategies that we use at the agency is to keep on refreshing creatives. And again, you don't need to reinvent the wheel when it comes to refreshing creatives, but you do want to be proactive. And that's one of the things that, for instance, when I talk to local business owners, you know, chiropractors, doctors, restaurants and whatnot, they come to me, they're really frustrated because they hire an agency and they start having great results with them. But then the agency, they don't do much on the account and the cost per lead is bound to go up because they're not refreshing creatives frequently. Right. And that is something that I talk to entrepreneurs and business owners a lot is the fact that, okay, well, I was getting great results 3 months ago and now I'm not. What's going on? And one of the things that happens is, again, you're not refreshing creatives often enough. Okay, so that is something that I want to share with you guys today. If you're noticing that, number one, leave your campaigns running for a little bit longer. Leave it running for 5 or 6 days. Leave them to spend your whole budget for that day before making decisions, number one. And number two, refresh creatives more often. That will allow you to keep your cost per lead, cost per sell cost per book call down. And that's one of the things why Facebook requires a decent amount of work and a decent amount of, you know, constant refreshing and all of that. If you want to learn more about these type of techniques, these type of strategies, I'm sharing them and sharing some stuff that it's really cool and it's really powerful and people are loving it in our free upcoming class. So if you go to 100mwebinar.com or click the link somewhere around here, you can register, you can save your spot. Spots are limited, so make sure that you save your spot. And the class is going to be free. It's going to be awesome. I'm going to be sharing with you guys some resources that are pretty cool and super powerful when it comes to making your campaigns work better, number one. But also number two, uh, I'm gonna be also offering some insights of what's working right now on Facebook, and I'll be taking some Q&A at the end. So if you have any Facebook Ads questions, marketing questions in general, you can come and ask them. And if you have a marketing person, you can invite that person as well. It's free. It's awesome. It's going to be great. 100mwebinar.com. 100mwebinar.com. Go register. Save your spot. Thank you for watching. I'll see you guys really soon.

Bye-bye. Bye-bye.