Generating Leads and prospecting clients
Generating leads has become increasingly more challenging in today’s competitive business environment. If you are a Financial Adviser of 5 years or less than you are most likely still growing your practice and know that generating a flow of fresh leads or prospective clients each week is vital to the continued growth of your business. By definition a lead is the name and contact details (phone & email) of someone who has a need you can satisfy. There are many methods Financial Advisers use to generate leads or prospect clients, you’re already familiar with most of the traditional methods:
- Net Working
- Buying leads
- Cold Calling
- Direct Mail
In addition to these methods the rise of the digital age has provided Financial Advisers with many modern methods to generate leads. In digital marketing you can generate leads through:
- Websites & Blogging
- Social Media
- Email Marketing
- Online Advertising
We are focusing on online advertising in this post, specifically Facebook Advertising, I am going to give you step-by-step instructions on how to create your own lead generating Facebook Ad. It was 10 years ago now that Facebook became main stream in South Africa and we joined the online social revolution with the rest of the modern world. Today there are close to 14 million South African’s on Facebook which more than half, 7.3 million, access every day.
|Monthly||15 million||12 million||4.5 million|
|Monthly Mobile||15 million||12 million||4.3 million|
|Daily||7.1 million||7.3 million||2.2 million|
|Daily Mobile||6.9 million||7 million||2.1 million|
If you are a part of the online trend and have a Facebook profile then you understand how easy it is to find and connect with people on Facebook. You also know that it’s not just people on Facebook you can engage with but also businesses. Businesses can also be a part of the Facebook community by creating a Facebook Business Page. A Business Page on Facebook is different to a regular profile page in that it is commercially focused and offers features that the business can use to promote itself to people.
If you are a Financial Adviser who is or would like to use Facebook for business then I would recommend setting up a Business Page separate to your personal profile for 3 reasons:
- Keep your personal life on Facebook personal
- Use unique Business Page features
- Use Facebook Adverts more effectively
Your Facebook Business Page (FBP) is your professional profile online on offers lots of neat little features that help businesses market themselves. Features to promote your professional self include:
- Promoting the page
- Promoting a button
- Promoting your website
- Promoting posts
In this case we are just focusing on Facebook Adverts which is managed separately to your FBP but needs the Facebook Business Page to work. It is through Facebook’s online advertising platform that you can reach thousands of people per day and contact those in need of your services.
A paid form of online advertising built on the same payment model as Google Ads called Pay-per-Click. It’s called that because you pre-pay by adding funds to your account, setting a budget and when someone clicks on the advert you are charged. Paid advertising on Facebook is fantastic for generating leads because:
- Reach thousands of people per day
- Lead Generating advertising campaigns that get people to click and fill out their contact details.
- Only pay when people click
- Click = Lead
- Easy to measure return on investment (R.O.I)
With so many people on Facebook for hours a day you are guaranteed plenty of people will see your Ad straight away. Of the many different digital marketing strategies a Financial Adviser could use Facebook Advertising is one of the quickest ways you can generate leads every week. Start today and by this time next week you will have leads! Your online ad is setup on the Facebook Ads platform and can be created specifically to generate leads by collecting all necessary contact information from people who click on the Ad. Adverts are an important part of Facebook:
“Our advertising products let businesses and organisations connect with the people who are most likely to be interested in their products and services. We believe the adverts you see across the Facebook family of apps and services should be useful and relevant to you.”
Facebook adverts appear in and on the right side of your news-feed. If you are someone who spends a lot of time on Facebook then you will have noticed that the Ads are mostly relevant to you. When it’s Valentine ’s Day there’s most the Ads are for flowers and jewelry, when it’s your birthday that pair of jeans you keep looking at online pops up in your news-feed, when you change your status from ‘In a relationship’ to ‘Engaged’ suddenly all the Ads are for wedding venues and honeymoon destinations. These adverts are relevant because they are highly targeted meaning that only people who fall within the target market i.e. qualified prospects see the advert. This is because Facebook has such rich information on its users adverts can be tailored for a specific audience.
1st for Women lead generation Ad campaign
Delivering real-time insurance leads
The South African insurance provider joined forces with Facebook Marketing Partner Popimedia to ensure its sales reps had real-time access to leads coming from Facebook, resulting in a 83% lower cost per acquisition.
Their Goal – Looking for leads
Insurance provider 1st for Women is prominent in the South African insurance market, but it wanted to expand its position and get more high-quality leads that its sales team could convert.
“Lead ads provide a great in-platform solution to drive leads for the business. This, together with the integration into our call centre has helped us send our leads to the contact centre and allowed our agents to call the customer in real time. The measurability of the integration has really driven business results.”
Carl Louw, CMW, 1st for Women Insurance
Their Solution – Real-time insurance quotes
Lead ads were a natural choice to achieve 1st for Women’s campaign objective. The insurance company integrated its ads with Popimedia’s meedee8 platform to immediately deliver leads generated by the ads to the brand’s call centers and CRM systems.
Their Success – A 1st for lead integration
Over its month-long campaign, 1st for Women Insurance was able to win more leads at lower costs than ever before. Popimedia’s meedee8 platform also helped the insurance provider achieve the following between February–March 2016:
60% more leads than the expected goal
37% lower cost per lead
83% decrease in cost per aCQUISITION
- Lead adverts
- Custom Audiences
- Lookalike Audiences
- Facebook Marketing Partners
Creating a Facebook Advert to generate leads
generate leads in 7 steps
In 7 simple steps you can create a lead generating machine on Facebook that will provide you with a steady flow of fresh leads every week.
Step 1: Create Facebook Business Page
When creating a Facebook Page, an important step is determining the category of the Page. Choose an appropriate category that best describes the nature of your business and will help people find your Page. The category name is displayed on your Page, so it’s one of the first things a user sees when they visit your brand on Facebook.
- Go to facebook.com/pages/create
- Then choose a Page category
- Click Get Started and follow the on-screen instructions
Keep these best practices in mind when creating a Facebook Page:
- Fill out your page info in full detail
- Include a relevant Facebook profile and cover photo
- Have a Facebook Page strategy
For individual or independent Financial Advisers I would recommend selecting ‘Local Business or Place’ rather than ‘Company, Organization, or Institution’ as the page template set up makes it easier to generate leads.
step 2: Create goals for your Facebook ads
As a Financial Adviser you end goal is to help someone satisfy their financial need by recommending the right product. In order to do so first, you need to identify someone with a financial need and secondly, contact them and explain how you can be of service. Your goal here is to get people with a financial need to send you their contact details so that you can help them. When creating a strategy for your Facebook Ads, make sure your goals are S.M.A.R.T. goals:
Creating S.M.A.R.T. goals for your Facebook Ads will help you achieve a better return on investment. For example, we want to generate leads on weekly basis, to be S.M.A.R.T our goal is: Generate an average of 15 leads per week over the next 8 weeks. This goal will now guide your Facebook Ad strategy and help you choose the right type of ad.
Step 3: Choose an objective for your campaign
Now that you have created your Facebook Page and have goals for your ads, you can now go into the Facebook Ads manager and choose an objective for your ad.
- Go to https://www.facebook.com/business/products/ads
- Then choose Lead Generation
- Follow on-screen instructions
If your goal is to generate leads, the Facebook Ad objective you would choose is to “Lead Generation” so that is pretty straight forward. This objective creates an Ad that when clicked on opens a form for visitors to enter their details such as:
step 4: Choose your target audience and ad spend
Step 4.1: Customize your target audience
This step is crucial in setting your Facebook ad up for success. You can target ads based on location, age, gender, language, interests, and behavior. Deciding who sees your advert is very important to its success. You have to think about who your target market is and tailor your advert and message to them. Targeting the right audience will ensure you get the most out of your Facebook advertising.
For example, if the kind of leads you would like to generate are people with a need for life insurance, think about when people need life insurance. People most often need life insurance or need to update their policy when they get married or have a child. In this case your target market could be young married couples and your selected target audience for the Ad could look like this:
- South Africa
- People who match:
- Relationship Status: Married
- Parents: New parents (0-12 months), Parents with toddlers (1-2 years of age) or Expectant parents
- Life Event: Newlywed (1 year), Newlywed (6 months) or Newlywed (3 months)
step 4.2: Choose your budget
After you’re done choosing your target audience, you can then choose how much you want to spend on your ad. The ad budget you set is the maximum amount you want to spend. If you choose to have a daily budget, the amount you enter will be the maximum amount you’ll spend each day. If you do a lifetime budget, the amount you enter is the maximum you’ll spend during the lifetime of your ad.
STEP 4.3: CHOOSE YOUR OBJECTIVE
First, choose to bid for an objective: clicks or impressions. This will determine how you will pay and who your ad will be served to. For example: if you optimize for the Lead Generation objective, you’ll be charged when your ad is shown to people who might be more inclined to click on your Ad.
Once you’ve placed a bid for your objective, choose when you want your ad to run under ad scheduling. If you choose the lifetime budget route, you choose specific hours and days of the week when you want your ad to run.
Choosing to run your ad on a schedule is the most efficient way to spend your ad budget wisely; this means that you are only serving your ad when your target audience is most likely on Facebook. For example, if you chose to target a specific region, you want to make sure you’re scheduling your ad when they are awake, this will allow you to make sure your ad will be seen by the people you want to target.
step 5: Choose how you want your ad to look
The actual creation of the ad is the fun part of advertising on Facebook. Choose your images, headline, body text, as well as placement of the actual ad. You can have up to five images and the headline text can only be 25 characters.
Keep in mind that because your headline is so short, your copy has to be intriguing enough for people to want to click on it. Along with the headline, there is also text that will accompany the post. This can only be 90 characters long, which means your copy needs to be clear and concise.
You need to choose the placement of your Facebook Ad. Choose whether you want it on people’s desktop News Feed, mobile News Feed, right column, or audience network.
In a Lead Generation Ad you also need to decide on your Call-to-Action, the button audiences are going to click on. You can choose between:
- Sign Up
- Apply Now
- Get Quote
When someone clicks on the Call-to-Action button the lead form will appear where they can fill in their details. The type of information to ask for in the lead form is the next thing you decide on. Making it quick and simple for people by not asking for too much will increase your conversion rate. You just need their name, email address, and phone number.
6. Place your order
Once you’re ready for your ad to be reviewed, click on the green button that says Place Order, located on the bottom right-hand corner. You’ll receive an email from Facebook once your ad has been reviewed and approved.
7. Create a Facebook ads report
Now that you have created your Facebook Ads, it’s important that you report on the successes (and failures) of your endeavors.
To create a report on your Facebook Ads visit Facebook’s getting started site.
- Go to Ads Manager and click Reports in the navigation. You’ll automatically see data from the default report called General Metrics over the last 30 days for your active campaigns.
- Customize the metrics you see in your report and then click the blue Export button on the top-right column to download your report.
And that’s it!
Prospective clients’ contact details will be emailed to you
If you do this you will generate a steady flow of qualified leads each week for you to call and book meetings with. In addition to the prospecting methods you currently use to generate leads each week you can set up a Facebook Advert to run week after week and have leads emailed to your inbox. It won’t even cost you a lot of time, an hour tops to set up your lead generation Ad and then all you need to do is sit back and check your inbox every week for fresh leads. Eventually you won’t even need to ask for referrals or do any cold calling!