For an up and coming business, advertisements are an important part of marketing and expansion. Thus, Facebook offers two main advertising options. The first is Lead Generation Ads and the other is Conversion Ads. Both might seem alike but are different in purpose and functioning. If one isn’t clear about the purpose behind the advertisement then it might lead to confusion and choosing the wrong kind of ad. Similarly, if one isn’t clear about how they’d prefer to reach the audience and customers might also cause issues. In terms of audience interaction, optimised targeting and success rate, both types show major differences. The objective behind Lead Generation Ad and Conversion Ad is noticeably different. In this post, we’d like to bring attention to those.
Lead Generation Ads:
Let’s say, for example, you’re a paediatric doctor who’s opened a new clinic. You offer physical as well as online consultations. Currently, you don’t have as many clients and are looking to build a database of potential clients. Here, Facebook Lead Gen Ads come to the rescue. If any interested person clicks on your ad, they’re taken to a pop-up form in Facebook instead of your website/ a landing page. They fill in their details- name, email, city, age of their kid(s), and various other fields and sign up. With the help of Lead Generation Ads you’re trying to gain the interest of potential customers for future sales. Keep in mind: don’t make the form too complicated. The more information you ask for, the less likely people are to go through with the form and sign up.
The collected data has to be downloaded from Facebook and be implemented in whichever way you want. Here, CRM (Customer Relationship Management) comes forth. By storing, analysing and optimising this data, you can start contacting potential customers. Your sales team can contact the target demography via emails, messages and various other ways. Soon enough, you’ll start getting bookings and there you go- your clinic is now fully functioning!
(Re: Read more about CRM here: CLICK HERE)
Now, let’s say you can’t afford an external CRM and wish to allow customers/potential clients to directly visit your website/ landing page. You’d much rather an interested client directly book online consultations, contact you or interact with your website more dynamically. Here, Facebook Conversion Ads play an important role. Conversion Ads notice anyone who interacts with your website/landing page. A landing page could be the home page of your website, or it could be the online shopping page.
Moreover, Conversion Ads keep track of the target client’s movements up until they exit the website. If a potential client books a video consultation but doesn’t proceed to pay, you can find that out with Conversion Ads. You can send such clients offers and discounts to please them. Similarly, if a person books a consultation as well as pays for it, you will be informed of that and can send an e-mail/a message thanking them.
In A Nutshell:
- Where Lead Generation Ads take the customer to a form, Conversion Ads take them to your landing page.
- Conversion Ads provide an in-depth analysis of the interaction of your website with clients. Lead Generation Ads don’t do that.
- Conversion Ads are more tailored to one’s specifications than Lead Generation Ads.
- Lead Generation Ads are cheaper compared to Conversion Ads.
- While Lead Generation Ads help in finding out who the target audience is, Conversion Ads help in building a relationship with said audience.
How Conversion Ads Work On Facebook
With Facebook Conversion Ads, you can choose various attribution models. Depending on which attribution you choose, these attribution models are differentiated by configuration of impressions, clicks or visits. They’re run by rules which let you figure out how conversions should be connected to different touchpoints (impressions, clicks or visits). By default, Facebook selects a last-touch model with a 1-day impression and a 28-day click window. Any attribution model has two key parts:
- Attribution Window: You have to specify the attribution window or the time frame in which customers’ interactions will be recorded. The conversions that will be taken into account are the ones that took place in the mentioned timespan.
- Touchpoints: It finds out which touchpoints count as conversion and which don’t. There are a variety of options to choose from- first-click, last-click, first-touch and last touch models.
Let’s say you choose the Last-Click or Visit Attribution Model with A 28-Day Window. It will give 100% credit for a conversion to the last click or last visit. In this model, initial touchpoints will be ignored like visiting the website or browsing through options. It’s considered only when a click and visit happen within 60 seconds of one another. Conversions are efficiently measured by conversions per 1000 impressions, cost per conversion and conversion rate. You should be aware of all the other models before choosing the one apt for your business. Thus, you can figure out conversion ads with the above details provided.
- Measure the effectiveness of your ad: By tracking the actions of a visitor on your website, you can find out the effectiveness of your advertisement.
- Define custom audiences for targeting: Find more customers, those who interact positively with your website and have taken the desired actions.
- Organize dynamic ad campaigns: By setting up dynamic ad campaigns (Lucky draw) for the target audience who perform the desired actions on your website, you can drive up sales.
While Lead Generation Ads are better in terms of networking and getting the word out, Conversion Ads are better for building brand awareness and loyalty. Conversion Ads prove to be better in terms of optimization, analysation and implementation. Online advertisements have grown to become a very important part of any business’s marketing strategy. Hence, it is important to find out the various options provided to you and figure out which ones suit you best. Be aware of the brand you’re working hard to create and the purpose behind your advertisements. Also, it becomes easy to go for a certain advertisement strategy and begin building a loyal clientele after such questions are cleared. So, start asking yourself questions and figure out the game plan.
Also Read Facebook Ads Vs Google Ads