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What is Conversion Lead Optimization Goal for Lead Ads?

June 18, 2021   |
   Raja Rajan

Facebook has recently rolled out the availability of a new Conversion Leads optimization goal for Lead Ads at May 13. In this article you’ll learn

👉 What is Conversion Lead Optimization Goal for Lead Ads?

👉 What are Facebook Lead Ads?

👉 Step-by-step set up of conversion leads for Facebook lead ads

👉 Full funnel campaign set up

👉 Sending your conversions back to Facebook

👉 Benefits of Conversion Leads Optimization

What is Conversion Lead Optimization Goal for Lead Ads?

Conversion Lead Optimization Goal provides the option for the advertiser to optimize for the quality (versus volume) of leads generated.

The two ways to optimize Leads ads are

👉 Leads and
👉 Conversion Leads

Here’s the difference between Leads and Conversion Leads

Leads vs Conversion Leads

What are Facebook Lead Ads?

Traditionally businesses run ads and lure visitors into landing pages and collect their contact information via forms.

The biggest challenge for advertisers is some of the interested visitors might drop off from the landing page for various reasons like slow page load times, visitors don’t want to leave Facebook, etc.

The solution offered by Facebook is Lead ads

Facebook lead ads help advertisers find a relevant audience and allows them to key in their contact informations via instant forms without leaving the Facebook platform.

These forms allow advertisers to customise questions to know more about your potential customer.

Lead ads can be used for

✔️ Generating Leads
✔️ Trial sign up for your product
✔️ Subscribers for newsletters
✔️ Product demo bookings and a lot more

Here are the recommendation made by Facebook to reap the maximum performance out of conversion leads

✔️ Integrating your CRM and Facebook using Conversions API and
✔️ Implementing Facebook Conversions API

How Conversion Leads CRM integration works

Facebook tests have shown an improvement in conversion rate while keeping the cost per quality lead neutral. Specifically Facebook recommends integrating your CRM with Facebook’s Conversions API (CAPI) for the best results.

Keep in mind that the ranking model powering the new optimization goal will need at least 30 days to train and provide the best results.

How Conversion Leads CRM integration works

Let’s dive into the step-by-step process of setting up conversion leads.

Step-by-step set up of conversion leads for Facebook lead ads

Let me give you a walk-through of the step-by-step process of setting up conversion leads for Facebook lead ads.

1. Go to Ads Manager.

2. Click create in the top left corner.

Ad manager

3. Choose Lead generation as your objective and click continue

Facebook Ad campaign details

5. Select the page you’d like to use for the lead ads.

Facebook Page selection

6. Select your target audience, budget, and ad schedule.

7. Now, In the optimization and delivery section. Choose Conversions Leads and then choose next.

Leads vs Conversion Leads

8. Choose the ad formats depending on your business need. It can be a single image, carousel, video, etc

Facebook Ad set up

9. Add Primary text, headline, link, and a call to action. On the right side of the panel, you’ll get a preview of how the ad looks to your audience.

Facebook Ad creative

10. Choose instant form in the Question format and then in the instant form section click create form and add question which you’d like to get answered from your audience.

Facebook ad - question format

11. In the instant form section click create form and then add intro, add question which you’d like to get answered from your audience, privacy policy.

Finally after entering all the required details. Click publish

Facebook - create form

10. Click Finish in the top-right corner. Review your ad from Ads Manager and when you’re ready to publish, click Confirm.

Full funnel campaign set up

After integrating your CRM system with Facebook using Conversions API. Specify the stage you want to optimize the leads for. Facebook will then deliver the ads to people who most likely have the possibility to reach that stage. Depending on the stage chosen, Facebook algorithm will try to optimize your ads overall performance.

Sending your conversions back to Facebook

You would’ve already integrated your CRM with Facebook to receive lead information. But for Conversion Leads you still have to connect your CRM and pass the information back to Facebook via Facebook Conversions API.

Benefits of Conversion Leads Optimization:

Here’s an excerpt from the Facebook report on the benefits of Conversion Leads Optimization

Benefits of Conversion Leads Optimization

Finally, sharing you the Facebook report on [Facebook lead ads – Conversions leads optimization] 

Implement Conversion lead optimization goal for lead ads
 
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