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Facebook Makes Its Lead Ads Available To All Advertisers | DrivingSales News

Facebook Makes Its Lead Ads Available To All Advertisers

October 8, 2015 0 Comments

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Back in June, Facebook announced a new ad unit called Lead Ads, which enables users to easily fill out forms on mobile with just a few taps. The initial launch was limited to a select group of businesses, but this week the company announced its expansion to become available to all advertisers.

Facebook says that during initial tests, Land Rover saw a 4-times reduction in cost-per-lead and Stuart Weitzman saw 54 percent more efficient cost-per-lead. The ads also have some new features, including CRM integration, real-time response, and customizable questions.

“If businesses work with one of our integrated marketing platforms such as Marketo, Oracle Marketing Cloud and Salesforce, businesses can collect lead info in real-time,” explained a Facebook representative. “Now, businesses have the ability to customize lead ad forms with open-ended questions or multiple choice questions, so they receive the info that matters most to their business.”

Auto dealerships typically receive Internet leads from their website, and may also receive leads from third parties such as Cars.com, Autotrader.com and Edmunds.com. And most dealers will agree that the leads they receive from their website are generally of a higher quality and are more likely to lead to the sale of a car than the leads they receive from third parties. Now that Facebook is offering its Lead Ads unit to all businesses, there’s no question that it’s worthwhile to see if leads generated from Lead Ads are of a quality that is higher than other existing third party options.

The opportunities for innovative strategies are open-ended when it comes to Facebook’s new ad product. For auto dealers, this new feature is interesting as it provides the ability to either post a general ad or to post an ad that’s for a particular car to potentially generate a specific lead and subsequently a sale.

But are Facebook’s Lead Ads effective?

Land Rover used A/B testing recently to see how Facebook’s ads perform across various devices. Kim Kyaw, digital marketing and social media manager at the car manufacturer, said that, “Facebook’s native lead ads outperformed link ads driving [people] to the website to fill out a lead form in terms of total leads and conversion rate, while driving a [quadrupled] reduction in cost-per-lead compared to previous social lead generation tactics.”

Alexi Venneri, CEO of Digital Air Strike, which serves automotive clients, suggested that Lead Ads hold promise. “Adding in lead capture increases the value of the ads to our clients – as anything that makes it easier for consumers to share their information is always a win for businesses,” she said.

Certainly, in a time when consumers are looking for more personalized approaches from brands, Facebook’s Lead Ads could provide a good starting point for auto dealers. Whether the initial usage is to subscribe to a service, newsletter or some other purpose, dealers can take that initial engagement and expand it in many interesting ways in the future.

About the Author:

The DrivingSales News team is dedicated to breaking the relevant and the tough stories affecting car dealers. Have questions for DrivingSales News? Reach the team at news@drivingsales.com.

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