Grow Your Online Business in 2022 - How To Get Started With Lead Generation v2

Online Business Growth Strategies – Get Started With Lead Generation

Online Business Growth Strategies - Get Started With Lead Generation

Table of Contents

If you want to consistently grow your online business it is essential to have a proven model that produces profitable perfect-fit leads at scale.

Because there is no problem that can’t be solved with more leads.

More leads give you the opportunity to refine funnels, optimize existing offers, test new offers, and even improve the quality of the leads you are generating.

And guess what, if you are putting killer optimized offers in front of the right people who are pumped primed, and excited for what you offer at the right cost your revenue and profitability will go through the roof.

And guess what you can solve with higher profits. Well, just about every business problem you can imagine.

How to Start With Lead Generation

In this video, you’ll discover a step-by-step process for mapping out a logical and clear roadmap to bring the most suitable people all the way from indifferent strangers to passionate, profitable, perfect-fit clients.

You will then learn an approach for identifying assets, that you already have in your business, which you can use as incentives to attract your perfect-fit clients and take that first step and opt-in to your email list.

From there I will show you a crazy simple strategy that will guarantee you will never have to worry about what content to create again, and turns every piece of content into a lead generation machine

And if you hang around to the very end I have a special bonus session where I will show you how you can leverage the content you create to build the most powerful audiences imaginable on Facebook which will slash your cost per lead and are complete iOS 14.5 proof

But before we get to that if you find this video useful please subscribe to the channel give me a thumbs up and share this with your friends because the bigger the community gets the more time effort and energy I can put into producing and sharing free content like this which you can use to grow your business, get your message into the world and create the life you want.

How to Structure Your Online Business To Get Your Clients the Best Results

When it comes to lead generation so many people are doomed before they ever start.

They have a course or membership that they know can get people massive results but the biggest problem they have is getting their message in front of the right people, in the right way, at the right time.

Now, I am a huge fan of building audiences and followings on social networks. Hey I am here doing that right now, however, when it comes to sales the medium that gets you the best results and return on investment is email.

So it is absolutely essential that you are continuously attracting email subscribers to your list.

The primary method for doing this is through a Lead Magnet.

A lead magnet anything of value which you can send someone in exchange for their email address.

A Lead Magnet should solve one very specific problem for a prospect the benefit from which they can gain within 15 minutes.

Why most people are doomed before they start is that they have no strategy for linking their content to their lead magnet, through to their courses and memberships

And that is where my Value Ascension Roadmap comes into play.

The Value Ascension Road charts your perfect-fit clients journey all the way from their very fist interaction with your free front end content all the way to the ultimate transformation that you can help them achieve, which is normally done through your highest value offering.

Each subsequent level of the Roadmap is the logical next step from the one below it and each level represents an increase in value first of all from your perfect-fit client’s perspective. That is value in terms of the level of transformation and results that they get.

Secondly, and as importantly, an increase in value to you the business owner in terms of how much they pay.

So let’s take a look at the Value Ascension Roadmap

On level 1 we have your free front end content. This is your blog, video, email and social media content that you publish in order to attract and engage those that you can serve the best.

And this is important because the success of your online business will be directly proportional to the results you can help your clients achieve.

As a result ensuring that you are attracting potential Perfect-Fit Client leads is essential. And this process all starts with your messaging and the content you share

It is essential that each level of the value ascension roadmap delivers real value and gets results for those who interact with that level. And even though this is ungated free content you still want it to move people further along their journey.

One of the best ways to think about your free front end content is what question if answered would help my perfect-fit client move forward and take action. Or in other words what is holding your perfect fit client back.

You see momentum is one of the most important things we can help people achieve. Our goal on each level of the Value Ascension Roadmap is to help people take action, move forward and to prepare them to step up to their next level.

In this case their next level are the lead magnets. Now if we are following the process. On the first level we have provided some level of solution to the very first thing that is preventing a perfect fit client from moving forward

But guess what. Once you have answered that question they are going to have a brand new problem. And this is the problem that your lead magnet should solve.

As I mentioned earlier your lead magnet should solve one very specific problem and someone should be able to consume your lead magnet and gain benefit from it within 15 minutes of downloading it.

And this is one of the biggest mistakes that I see people make with their lead magnets. It’s a trap we all fall into. We want our Lead Magnet to be really valuable, so that people will want to sign up for it.

But when it comes to value people appreciate quality over quantity and in this case quality actually means the shortest and easiest root to a defined outcome that people want.

People are lazy they don’t want to and wont wade through pages and pages of info. Give them the checklist, give them the cheat sheet, give them the 3-7 steps they need to take. Make it easy for them.

Give them what they need to move to the next level. Now in the Lead2Launch model when I am working with my members and clients this level is what I call your mini-front end products.

A mini-front end product is an offer which people receive immediately after opting in for your lead magnet, normally in the price range of $9 – $49. The purpose of the mini product is to cover the costs of your paid advertising.

If you get this right you can create an unlimited budget for your Facebook Ads and other advertising channels effectively enabling you to get free leads or in some cases cash flow positive from your lead generation campaigns

The key to success with your mini-front end offer is that it is the logical next step for your perfect-fit client to take once they have opted in for your lead magnet.

Now there are two ways to think about this.

The mini product could help people to get an even greater result than the lead magnet

or

The mini product helps people get the same result as the lead magnet only faster and easier.

The purpose of this level, aside from liquidating the cost of our ads is to prime people so that they are ready to step to the next level of the Value Ascension Roadmap which in this example is your signature course or program

Now as we are just dealing with lead generation in this video I am not going to talk in detail about the upper levels of the value ascension roadmap but we take a similar approach to the offer at each level.

The goal of each level is to get a result for those on that level but also to prime them for their ascension to the next level.

As the cost of lead generation increases it is essential to always have a next step for our perfect-fit client to ascend to which maximises customer lifetime value. We are also increasing loyalty and retention as people know there is somewhere for them to go within your business model.

But in today’s example we may have the next step after our signature program as membership which leads to a small group coaching model and then a mastermind at the top of the value ascension roadmap.

The fact is if you don’t have at least some of these levels in your business you are leaving money on the table. Money that people would love to spend with you but have no avenue to pay you.

And this isn’t just my opinion. It’s a mathematical fact. Using the maths behind the 80/20 rule we can predict that for any group of client there will be 20% of them who would be willing to pay 5 times more than they have. And we can apply this maths when figuring out our pricing and also forecasting our revenue

How to Pick A Lead Magnet That Will Attract and Convert Leads

So then the next question you may have is. That’s great Mícheál but how do I pick a lead magnet that will attract leads and also prime them to register for my signature product.

Well hang with me for a minute and not alone will I show you how to pick your lead magnet but I will show you how you probably have already created it and it may just be a matter of repurposing it from content you already have.

So let’s zoom in on your signature product or membership. The majority of courses or programs have between 5-7 modules. Funnily enough I have found the sweet spot to be 6.

If you have a membership the chances are that you have between 5-7 core topics that you help people with.

Now each module in your course or membership will have a number of sections.

Step one is to decide on the topic that you want to produce you first lead magnet.

Step two is to identify the module within your course or membership that deals with that topic.

Step three is to analyse the module and pick out the hot topic that really gets people excited and helps people move forward.

Step four is to pick out any checklist, step plan, cheat sheet or guidance document associated with that section

And hey if you don’t have these created already review your content and based on that create something simple straight forward that makes it easy for people to implement your teachings.

It will be hugely valuable for your members too.

This is now the perfect lead magnet because it is something that you know people love, it gets them results and it is perfectly aligned with and into the ultimate destination you want them to arrive.

If you are worried that it is devaluing your product or membership. The fact is, it’s only in the region of 1/36 (if you have 6 modules and each module has 6 sections) but more importantly, it is only one piece of the puzzle. For people to get the full transformation they will need all the other bits.

In my mind far from devaluing your product or membership it is actually demonstrating its strength and creating desire and demand.

How to Build Your Lead Generation Traffic Strategy

So now that we have picked your lead magnet we have to start building our traffic. Now despite running a Facebook Ad agency I am a massive believer in generating organic leads. Yes, driving organic leads is a slower process and it is definitely a long term play but with the right strategy and approach not alone will increase your visibility, drive engagement, prepare your audience to take action and drive sales but you will also set your paid advertising up for massive success.

When it comes to content creation one of the biggest mistakes that people make is that they go off on tangents talking about things that may be interesting and may help people but if they aren’t leading people strategically along your Value Ascension Roadmap then they are leading people away from your offers.

Ok so in the last section of this video I broke down how to select your lead magnet and we uncovered that most courses and memberships have between 5-7 core topics.

Well you content strategy should centre around these 5-7 key areas. So again lets settle on the magic number of 6.

With six core topic areas you can either choose to cycle through the areas one after another or deep dive into one area for a multi part series of blog posts, videos, social posts or emails.

The key to creating high quality front end content that leads to conversions is to stick to a strategic level. If you like, your free content is delivering on the why. Now this is still hugely valuable for people but what you sell in your course, program or membership is the how and also the support and guidance to implementing that how.

There is very little question that video is now the majority preferred medium for people to consume content. This is also why the social platforms now all favour and push video. But there is another reason why I think video will best serve your lead generation strategies which I will share with you in a minute

So let’s look again at how this breaks down in our Value Ascension Roadmap.

Starting from our free front end content we can now see that we have 6 core topics which we talk about.

If these are fixed now we can start to develop content funnels which link our free front end content to specific lead magnets.

What this means is that for every piece of content you create you will automatically have a lead magnet which will be the logical next step for people who are consuming your content to take.

Over time we can build our lead magnet library up, it may not be advantageous to have 6 lead magnets but there certainly is room in every business for 3-4 high quality lead magnets

And once we have identified our lead magnets now we can start creating and releasing mini products which will sit as up-sells from the lead magnet.

When we have these content funnels in place we can now invest in the development of pillar posts which almost serve as definitive guides to each topic, answering your perfect-fit clietns key questions and serving as a beacon to attract people to you.

And when you put it all together you have a perfectly aligned, logical, streamlined path for people to move from their first interaction with your free front end content all the way to your signature program or membership.

Having this alignment will ensure that you will maximise your returns on both your paid and organic campaigns while massively serving the needs of your Perfect-fit client and helping them achieve the transformation they desire.

And that is the perfect recipe for rapid online business growth and kick starting your lead generation activities

BONUS! How to Turn Your Content Into a Lead Generation Machine

Now remember I promised you a bonus session on how you can leverage your organic content to super charge your Facebook Ads to massively reduce your cost per lead. And not just that, but it was completely iOS 14 proof.

Well stay tuned because if you are interested in Lead Generation, and even if you have never run a Facebook ad before you are going to want to stay tuned for this

So what we have looked at to this point is:

Creating your value ascension roadmap which maps out your perfect fit clients path all the way from their first interaction with you to the ultimate transformation that you can help them achieve.

And how each level on the value ascension road map is the logical next step for someone to take once they have reached their desired milestone on the the previous level

We then looked at how to choose a lead magnet that primes people to sign up for your signature program or membership but why you have probably already created it and where you can find it.

And finally we looked at how you can develop a content strategy which funnels people into your key topic areas and gets them to take their first steps on their Value Ascension Roadmap

All exciting stuff and now for the bonus session I promised.

Since the release of iOS 14.5 launching and scaling Facebook ad campaigns have become more challenging.

Apples release of iOS 14.5 allowed mobile users to blocked reporting of actions they took on 3rd party websites. And by third party websites I mean your website.

This cut off the feedback and information supply from your pixel which was one of the key ways that Facebook knew who to show your ads to and who not to show your ads to.

This has had a significant knock on effect for advertisers and yes there are work arounds and things that you can do but the fact is this trend is only going one way and the blocking of trackers will only increase in the future. Your ability to retarget facebook users based on their actions on your website will never be a powerful as it once was

And these retargeting audiences were often the ones with the lowest costs and highest ROI

But here is a strategy that completely eliminates the impact of iOS 14.5.

If you are creating video content. And this is just one of the reasons I love video

You can take short clips from your video or record 30 – 60 second clips based on your video content

This has had a significant knock on effect for advertisers and yes there are work arounds and things that you can do but the fact is this trend is only going one way and the blocking of trackers will only increase in the future. Your ability to retarget facebook users based on their actions on your website will never be a powerful as it once was

And these retargeting audiences were often the ones with the lowest costs and highest ROI

But here is a strategy that completely eliminates the impact of iOS 14.5.

If you are creating video content. And this is just one of the reasons I love video

You can take short clips from your video or record 30 – 60 second clips based on your video content

And run video view ads on Facebook. Now you can get video view for between 1c and 3c per view.

But here is the genius part of this strategy. On Facebook you can create audiences based on not just of who viewed your video but also the length of time they have viewed it, 3 seconds, 10 seconds, 15 seconds, 50% of video 75% of video and so on.

Now when it comes to running ads for your lead magnet you can target this these custom audiences

And in doing so you know you are showing your ads to people who know who you know are, have interacted with you, are interested in the problem you solve and are most likely to opt-in for your lead magnet

In doing so you are almost guaranteed to get lower cost leads than cold interest based audiences

So now that you know how to choose and create your lead magnet you probably want to take a deeper dive into Facebook ads.

So make sure you check out the videos linked on screen for lots more information on how to plan your next Facebook Ad campaign and some key tips on what’s working right now when it comes to Facebook Ads

If you haven’t already done so make sure to click that subscribe button and give me a thumbs up.

See you in the next video

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How To Optimize Your Facebook® Ad Audiences For Lower Cost Per Lead & Acquisition

How To Optimize Your Facebook® Ad Audiences For Lower Cost Per Lead & Acquisition

Table of Contents

Facebook® ads can be a bit of a bottomless pit for cash unless you can get the right message in front of the right audience. 

Every month, thousands of people jump into Facebook® ads without the correct strategies and end up wasting their hard-earned cash. 

Many people would be better off putting their cash in an envelope and mailing it to Mark Zuckerberg, because at least then they wouldn’t have wasted the time setting up their ads.

The majority of Facebook® Advertisers never get their ads off the ground. And they end up saying things like, “Facebook® ads don’t work,” or “My clients aren’t on Facebook®.”  But one of the big reasons they are not getting the results that they want is that they have selected inappropriate or suboptimal people to display their ads to. 

Most people fantasize about their ads generating sales and converting cold, interest-based audiences when the reality is that even the best Facebook® advertisers struggle with these audiences. Now I’m not saying that you shouldn’t use interest or behaviour based audiences. The issue is that most people move in for the kill and ask for the opt-in or the sale far too early.

What I am about to share with you in this post is proven methodology for engaging with your audience through your ad campaigns and enticing your very best candidates to self-select and put their hands up so that you can follow up, and show them ads that solve a specific problem for them.

This will significantly boost your engagement levels and will ultimately result in lower Cost Per Lead (CPL) and Cost Per Acquisition (CPA).  

Get this right, and you will cut out days, weeks, and months of pain, frustration, and wasted money. Yes, you still need to put in the work. But you will know that you’re on the right track and that you’ll be short-circuiting your Facebook® ad success.

This strategy is one of the quickest and fastest ways for you to slash your CPL and CPA especially if you’re only starting with Facebook® Ads. 

I will explain the three levels of Facebook® ad strategy that every Facebook® ad campaign needs, the ad type that works best with this strategy, and why the Apple iOS 14.5 update ensures that this is one of the most valuable ads that you have in your arsenal. 

And then I will wrap up with four additional audiences that you can leverage to significantly reduce your CPL and your CPA, and how you can start building these audiences today. 

Why We Need A Better Facebook® Ad Strategy 

Ad costs are rising. Now, this isn’t just true on Facebook®, and it isn’t because Facebook® is deciding to put up its costs. That’s not the way it works. 

Simply put, Facebook® has a limited amount of real estate that they can serve ads on. By real estate I mean the newsfeeds, right column, stories, results, videos, search and messages of their Facebook® members. 

As more and more advertisers enter the auction market for this limited real estate and are willing to spend more and more money to serve ads to Facebook users the price to serve said ads increases.

As ad platforms mature and gain popularity the cost of advertising increases, it’s simple economics. But here is the thing, the increased costs are not the issue, it’s the fact that most people don’t have a system for optimizing their funnel and maximizing the immediate and lifetime return of each lead they attract.

When it comes to optimizing your audience one thing that many people don’t consider is that they are not just competing against other advertisers in your industry. You are competing against everyone who may want to target the individual Facebook® user that you are targeting.

For example, you may be in the fitness industry but someone who is a perfect target for your ad may also be a dog owner, a bitcoin trader as well as an avid golfer.

And guess what the people who are most likely to opt-in and purchase from you are the same people who are most likely to subscribe and purchase from other advertisers.

So before we start the argument that Facebook has no shortage of real estate to advertise on we have to understand that a substantial portion of people, even if they perfectly fit into our defined audience and we craft the perfect no brainer offer, they still won’t take the action that we prescribe.

All this to say, that the most valuable audiences, the ones that we want to get in front of, are not just attractive to us but attractive to others and that is the reason why they are the most expensive.

There is very little we can do on an audience targeting level to change this. However, what we can do, deploy a strategy that identifies the people within our broad audiences who are most likely to take the action that we want, using the cheapest possible ad types and then use that data to retarget them with ads that ask them to take some action.

The 3 Levels Of Facebook® Ads Every Campaign Needs

When deployed the strategy that I’m about to share is a proven winner but you still need to apply all the steps and optimizations that we’ve already discussed in this series including your overall strategy, offer, landing page & creative.

So before attempting to launch this strategy make sure that you firm grasp of fundamentals because they will need to be deployed with this strategy too.

With that warning out of the way let’s dig into the 3 Levels of Facebook Ads Every Campaign needs.

Top Of Funnel (TOFU)

The Top of Funnel is all about engagement. At this level we want to keep our audience size large and more than likely we will be relying on interest-based audiences. 

When using cold interest-based audiences one of the problems we face is that people don’t know who you are, understand what you do, or the transformation you can help them achieve. As a result, if you go directly for “the ask” they are unlikely to take the requested action.

This is the problem that we must address. One of the big objectives for the TOFU is to drive engagement with our content and give people an understanding of who we are, what we do, and how we help people. 

Our goal is to find the people who are engaging and consuming our content so that we can then move them up to the next level and retarget them during our middle-of-funnel campaign. 

Across the TOFU level, we want to hook people into your concepts, your values, and your approach. Your campaign objectives will be reach, traffic, engagement, or video views depending on your ad format. 

Now, why engagement and not a conversion objective? There’s a time and a place for conversion campaigns, but the TOFU is the time to get in front of people and let them self-select. Because there is no specific “ask”, engagement campaigns using the objectives above are the cheapest form of ads that you can run. 

Now, just because they’re cheap doesn’t mean we don’t need to work hard and be strategic about the content. In fact, the content for your Top of Funnel ads is just as important as the content for your conversion ads.

So what content works best? Your TOFU content should be unbiased, informational, educational-based content. Think about how you can best engage people and show people that you understand them, the problems they face as well as the hope and dreams they hold. 

Your call to action will be relatively weak. As in you’re not asking them for any level of commitment. The “ask” is simply to watch a video, consume your post, read a blog post, and maybe comment or engage. Any action that doesn’t require a big commitment, because if somebody doesn’t know you, they’re unlikely to commit to something significant.

Middle Of Funnel (MOFU)

When we enter the MOFU phase, we’re going to leverage the audiences built from interactions from the TOFU phase. We are transitioning from the awareness stage to the evaluation stage and as these people have previously engaged or interacted with your content you can now bring the relationship to the next level.

You can look at your MOFU as the bridge between your free content and your offering. If the goal of TOFU was to engage with your audience, show them you understand them and the problems they face, your MOFU content seeks to filter and sort out the people who are not just interested but motivated to take action.

Our goal here is to move people from a prospect to a qualified lead, by enticing them to exchange their email address in return for something valuable via a lead magnet opt-in. 

Earlier in this series, I went into detail on the best lead magnets and what a lead magnet should do. 

In summary, the best lead magnet is one that helps your Perfect-Fit Client get unstuck and take their very next step on their road to the ultimate transformation that you can help them achieve. To do this you have to understand the micro problems they face and provide fast-acting tools to help them move forward.

What are some of the hot lead magnet formats at the moment? Checklists, quizzes, cheat sheets, templates, scripts, roadmaps, and fill-in-the-blank worksheets, are all working well at the moment. 

Some less appealing magnets are guides, white papers, ebooks, videos, mini-courses, webinars. There’s nothing wrong with any of these, and many have worked well in the past but the bigger the Lead Magnet and the longer it takes to consume the less likely someone is to implement it.

People are tired, people are lazy. A great lead magnet delivers its value within 15 minutes of it being downloaded. 

Your primary goal for your MOFU campaign is to get people to opt-in for your Lead Magnet. There are two different ad objectives you could use for this level of your campaign: i) conversion objective or ii) the reach objective. 

As everyone in the MOFU audience has previously interacted with your content on paper the reach objective is the one that should work best. Whereas if you choose a conversion objective, Facebook® will only show your ad to the subset of people within the retargeting audience which they think will be likely to convert.

This is always something that I test in my campaigns and I’ve been surprised at times of which one wins out. So I’d advise you to test both approaches.  

Bottom Of Funnel (BOFU)

During the BOFU stage is where we ask for the sale. So far during TOFU & MOFU, we have delivered real value all of which without asking for anything other than an email opt-in.

From a sales perspective getting an opt-in is an important step as it invokes a psychological principle called consistency. Once people make a decision and take an action in a specific direction, they will feel compelled to behave consistently with what they have said or done previously. This is one of the reasons that gaining micro-commitments in advance of a big ask is so powerful.

On the BOFU level, your audiences are tight. We’re only working on retargeting people who’ve taken specific actions from higher levels in the funnel. 

That could be people who have registered for a lead magnet or people who have proceeded through a certain amount of steps in a launch or indicated some intent to purchase. And as a result, these will be threads with the lowest spend but the highest Return On Ad Spend (ROAS).

During the BOFU stage, we can make some assumptions about the people we are targeting. 

We can assume that these people already know us because they’ve already been through some communication process in the upper levels of the funnel. 

We can assume that they understand the problem we solve, that they’re familiar with the method we use to solve the problem, and that they’re vested in solving their problems. 

So based on that then we can then start honing in our messaging on how our offer is going to impact their lives. We can get right into the specifics about, how we’re going to help them achieve their goals, we can outline any risk reversal, and give them a deadline. 

We can use any of these triggers because we know with certainty that at this stage they are very much aware of the problem facing them, they have gotten a good sense of who we are, and they understand how we can help them achieve the ultimate transformation we know is possible for them.

4 Audiences To Begin Leveraging Today For Lower Cost Per Lead (CPL) & Cost Per Acquisition (CPA)

As I mentioned above most people fantasize about their ads generating sales and converting cold, interest-based audiences when the reality is that even the best Facebook® advertisers struggle with these audiences.

So what audiences should be looking to first to test and hone our offers?? 

Retargeting Website Visitors

Well, the first place we can look to is our website visitors. Notwithstanding the iOS 14 challenges, the pixel on your website is still a really valuable source of audience data.. 

The starting point is to ensure that the pixel is installed throughout your entire website. Within Facebook® Ad Manager I would have one audience tracking all website visitors, that’s anybody who visits any page on your website. 

Then I would break my audiences down between individual service and product pages and your blog or content pages. The significance of this is that if somebody has visited your blog content, they are slightly more qualified than somebody who’s just visited your home page or an individual landing page. 

Speaking of landing pages you also want to have custom audiences built for each individual landing page and their associated thank you pages. 

And remember from a retargeting perspective, until you have traffic at scale you can combine all of these audiences together initially but the longer you delay tracking them individually the longer it will take them to build to the critical mass required to become highly effective.

When launching Facebook® Ads for a Lead Magnet the first campaign that should be built is a retargeting campaign for website visitors, meaning that once someone visits your website they get retargeted with an ad on Facebook® driving them to your lead magnet. 

But not all retargeting audiences are equal. For each custom audience that you think is valuable, I would also include a time dimension. 

The people who are most likely to take the action you specify are the people who have visited your site within the last 3 days. Depending on the complexity of the ad campaign, I normally set up a one-day, a three-day, seven-day, and then out to 14, 21, 30, 60, 90, and 180-day audiences for relevant pages.

Often I will rarely target the 30, 60 & 90-day audiences but you never know when you might them so it is better to have them set up and running in advance.

Retargeting Facebook & Instagram Post Engagements

Another powerful audience is people who have engaged with your Facebook® and Instagram page and posts. 

Let’s say you produce weekly blog content. One approach is to take each blog and create a post on Facebook® giving some value and teasing what’s in store for the reader if they were to read the remainder of the blog.

From here we create an ad based on the post and put a small amount of cash behind it, anywhere between $25 to $50 per blog post. 

The ad objective will either be for blog page visits or engagement. With either objective, you are building your retargeting audience from the website and your engagement audience on Facebook & Instagram. 

In addition, your blog should be promoting an opt-in of some kind which means you might pick up additional subscribers. If you are doing this regularly you can build large pre-qualified audiences in advance of launching your MOFU Lead Magnet opt-in ads which will outperform cold interest-based audiences.

Leverage Your Existing Customer & Prospect Lists

And another one that sometimes people forget about, is your customer and prospect lists. Both people who have purchased from you in the past and opted into your list can be uploaded into Facebook® and a custom audience created.

For most people with sub hundred thousand lists, these audiences are not hugely powerful in their own right, but they do allow you to create Lookalike audiences which are a complete game-changer.

What does a Lookalike audience mean? Lookalike audiences are a way of leveraging existing audience data to provide Facebook® with a baseline to identify other people with similar traits and who are likely to act similarly in the Metaverse.

Despite the grumbling, iOS 14.5 has not impacted the ability of Facebook® to build Lookalike audiences. iOS has stopped Facebook® reporting on actions taken by people on 3rd party websites for the purposes of retargeting but Facebook still knows who the people that took specific actions are and therefore can still produce solid Lookalike audiences.

Practically, when creating lookalike audiences I will create multiple versions of the same audience. The measurement of a Lookalike audience is based on a percentage of the total population of a country or countries that you have selected. 

What you are doing when creating a lookalike audience is that you are asking Facebook to find the X% of the population of your target country(ies) which look most like your base audience.

Normally what I do is I would create 3 Lookalike audiences

  • 1%
  • 1% – 3%
  • 3% – 8%

I then run each of those lookalike audiences against each other in different ad sets to see which performs better. You might only test it for a week to see which audience comes out on top and then promote that as the primary audience.

So that wraps up this section on optimizing your Facebook® audiences for the lowest possible Cost Per Lead (CPL) & Cost Per Acquisition (CPA).

And, remember this is a process so you don’t have to get it all right on day one. It is a matter of continually refining and improving your audience building and optimization. The earlier you start the quicker you will see results so get stuck in and create your audience-building plan today.

Let me know what challenges you face with your Facebook ads, whether you’re just getting started or a seasoned pro looking to scale your ad campaigns.

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