After working with this account for about 4 months, our average cost per lead (CPL) was in the $20-$30 range. We were trying to find better ways to optimize the winning audiences we had found. We ran into audience saturation issues fairly often due to the limited population within their local geotargets.
One of the main things we had learned from previous optimizations in this account was that it thrived on budgets applied at the ad set level. This meant that we were spending the budgets entirely at the audience level rather than at the more generic campaign level. Evaluating our existing creative, we decided that the use of static images was probably hurting our performance. After all, they only have so much thumb-stopping power. Furthermore, the advertiser was unable to provide branded content, so we had just been using stock photos as a substitute for them.
Our goal was to try a new type of creative, focusing on videos instead of the static images. We also wanted to try the new campaign budget optimization tool Facebook had recently released so that we could leave it up to the AI to figure out where to allocate the budget based on audience performance.
We created 4 campaigns, one for each business location. We added in about 4 ad sets/audiences for each location. With the budgets updated to the campaign level, Facebook started showing our ads to a more optimized balance of audiences. Within each of the audience ad sets, we added a new 15-second video with an extremely strong call to action on the thumbnail. We tested the same video and thumbnail with three variations of copy.
We ended up hitting the gold mine with this new strategy and creative content, going from generating about 50-60 leads a month to more than 150. The best part was that we didn’t really have to deal with audience saturation anymore because Facebook’s AI was cycling through various new audiences to avoid the saturation issue. Our CPL went from $20-$30 down to just $12 within the very first month after implementation.