Why Lead Gen Ads are one of the most bankable options for Small businesses?

With the customer acquisition cost going through the roof, small businesses and start-ups are thinking twice before investing in Paid Media Ads. For getting a hang of Paid Media Ads and initially acquiring leads at a low cost, Lead Gen Ads are one of the best options.

What are Lead Gen Ads?

Lead Gen Ads are vital to creating a consistent lead generation for your business. Lead Gen forms allow you to generate a database of email addresses, names, and other important details of your potential customers. Most of the major social media platforms offer Lead Gen Ads with an aim to keep their customers on their platform. This way they don't leave their platforms and go to another website after seeing an Ad. Also, it helps businesses in acquiring leads on a modest budget.

How to Get Started with Lead Gen Ads?

You need to have a Business Manager page and an Ad account on the platform (be it Facebook, LinkedIn, etc) where you want to run Lead Gen Ads.

Benefits:

Lead Gen Ads make it easy to submit leads with pre-filled data and it's mobile-friendly at the same time. The cost per lead on Facebook is quite affordable and it ranges from an average Rs. 15 to Rs. 20 per lead. The same goes for LinkedIn and Google Adwords, where cost per lead using Lead Gen campaigns is quite low as compared to the other objective campaigns. Lead Gen ads have a variety of integration with CRM solutions. It helps you to import your acquired leads seamlessly.

Drawbacks:

With a low cost per lead, there is an issue of Junk leads. But, you can deal with it by focusing on cost per qualified lead instead of cost per lead. Businesses are quite impressed initially with the lead flow and low cost per lead. But all you need to focus on is how to have a detailed analysis on what's the quality of those leads or the cost per qualified lead, accordingly, you can optimize the ad campaigns for better results.

My Suggestions:

Running a detailed campaign analysis can help you analyze what's the cost per click, cost per lead and cost per qualified lead. Also, what you need to observe is which Audience worked well and also which Ad copy gave you the best results. With a combination of all of these factors, you can generate qualified leads and lower your cost per qualified lead.

How has your experience for executing and analyzing Lead Gen campaigns been? Do share in the comments!