How many customers will I get from my Facebook Ads?
Just how many customers you get from your Facebook Ads will depend on multiple angles; it’s an impossible question to answer definitively. The best place to start is to work backwards. How many customers do you actually want? And that’s not a trivial question, it requires some prolonged thought.
What you need to understand (and you might need to invest some time in trial and error to work this out properly) is that it is not entirely about how many customers I want, but how many leads do I need to get those customers, knowing that not every lead will turn into a paying customer. In our business we convert something like 1 in 12, or 1 in 15, depending on what the campaign is, so we know that we need 15 leads to get a customer.
I know I can pay £7–£8 a lead, with 15 of those adding up to £100 or so. And I’m very happy to pay £100 to get interested customers. You probably will be too if the numbers in your business were comparable to the numbers in mine. Businesses can spend more money to get a customer, some businesses can spend less money to get a customer. Start with how many customers you want, then understand your abilities and how many leads you actually need, from which you can convert those leads into customers. This will inform you how much you can spend to get a lead, and that’s the budget that you can spend on ads. It’s that that simple.
Facebook leads from Facebook Ads will typically cost you anywhere between £2–£10 per lead.
That’s not a promise, because there are businesses that will fall outside that range. Yet, 80% of businesses will fall in this range and we will be able to generate leads for you from Facebook for between £2–£10 per lead.
“How many leads am I going to need to get a customer?” is another common question. The other factor in here will be the cycle of your sale. Do people buy immediately, or is it a more drawn-out purchase? You may get leads in tomorrow, but you might not convert a customer for three weeks, five weeks, or even two months. All of that needs to be taken into account, but the more you understand your numbers, the better Facebook Ads are going to work for you.
In fact, the less well you know your numbers, the more hmm… it’s a bit of a finger in the air, and that’s not how a professional market is worked. Don’t read too much into this, because if you come on board as a LeadCycle client, your numbers here will be a key part of your campaign and your Facebook Ads Manager will run through this with you. We can start to probe you and ask you the right questions to help you fill in the whole picture.
It’s important that we understand your numbers because we need to know what’s going to work for you. I don’t want to generate leads for you that are too expensive, that are not viable for you as a business. Similarly, I don’t want to refrain from getting you leads, knowing that there is a price point which allows you to really grow, and to rapidly accelerate. Remember that tap we talked about? Here is where we have the knowledge to turn up the flow, and know-how when slowing it down.
This all comes back to you knowing your numbers in business, because right now, your numbers are there waiting to be discovered and there is a huge audience out there on Facebook just waiting for your amazing offer. The capability exists for you to receive a significant flow of customers who will come from that steady flow of leads that only Facebook ads can generate, but the missing bit in there is your ability to convert those leads into customers.
That’s why, when you do come on board, we’ll give you a lead handling checklist to help you ensure success in your business.