I was at dinner the other night with a bunch of entrepreneur friends here in San Diego.
Among the group was a couple that lives in Thailand who I’d never met before, although I knew who they were since we run in the same Internet circles.
As I introduced myself to them, one of the first things they said to me was…”one of your Facebook ads targeting tips recently cut our cost-per-lead in half!”
Oh? Let’s sit down my friends, I said to them, I want to hear more!
They explained that they recently started using Facebook ads to drive registrations for a weekly webinar.
On the webinar they teach people about affiliate marketing and niche websites, but also introduce people to their $97 affiliate marketing course.
Before implementing the targeting strategy (that they’d picked up by being on my email list, by the way) their cost-per-lead (CPL) was $4.
After implementing the strategy, their CPL dropped to $2. With a crazy good conversion rate on their webinar of 20%+, cutting their CPL in half is a game-changer.
I now have a free place to stay when I’m in Thailand. 🙂
Implement This Now
This strategy is one of the more powerful Facebook ad targeting strategies that I know. And, it’s a strategy you can go and do RIGHT NOW.
Caveat: If you’re just beginning with Facebook ads, you’re gonna want to work up to this strategy because it’s a little more advanced. If you want to learn exactly how to get started with Facebook ads, click here.
Setting your ads up this way can dramatically lower your cost-per-lead and your overall spend, while getting you massive results.
The trick? Layering in Interests targeting on top of your Facebook lookalike audiences.
Here’s what you do:
1. In Power Editor, if you haven’t already, create a Custom Audience out of our email list and also create Website Custom Audiences for your website (or your client’s if you’re for someone).
2. Next, create a Lookalike audience out of each of these audiences. If this is the first time you’re creating the Lookalikes, it will take a little time for these new audiences to populate.
3. Setup your Campaign in Power Editor.
4. Create an Ad Set for one of these Lookalike audiences.
5. As you create your ad for this Ad Set, use one of the Lookalike audiences you’ve created for your targeting.
6. The sizes for Lookalike audiences, especially in the US, tend to be pretty big — like +1M big.
For my liking, I would rather be MORE targeted than this and that’s what I recommend for you too. So, don’t stop here — set your age range and gender targeting.
7. Next, under Interests, start adding Facebook fan pages that are similar to your business until you have an audience size of a few hundred thousand.
When you’re done with this step, move over to the next tab to set your pricing. Then upload your new campaign for Facebook’s review. Boom!
This additional layer of targeting, on top of your Lookalike audience, allows you to be REALLY targeted.
With this setup, you’re now reaching people who are within the Lookalike audience AND also have interests in the very specific Facebook pages that you’ve included in the Interests section.
Pretty cool, right? For some reason, a lot of people don’t realize you can target in this way. So if you haven’t tried this yet, you need to.
I use this strategy on a daily basis and it crushes it for me.
If you’re like me and also like to see things visually, I also recorded a quick video that explains this strategy. Check it out:
Have you tried this strategy yet with your own Facebook ads? Let me know in the Comments below.