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Let’s break down how changing a lead magnet can seriously cut down lead costs on Meta ads. I share a real case where a client’s lead cost dropped from over $20 to just about a dollar—just by switching their lead magnet.
- Cut your lead gen costs in HALF with my $37 mini-course–NOW only $17!
- Visit The Art of Online Business website for Facebook Ads help
Before that, I tested everything—ad copy, graphics, and even Meta’s Advantage Creative Plus—but nothing worked. The lead magnet was the real problem.
I explain why the old lead magnet didn’t work, what made the new one better, and how you can do the same to get better (and cheaper) results from your ads.
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Kwadwo [QUĀY.jo] Sampany-Kessie’s Links:
Speaker 0:
Recently, while I was guesting on another podcast, the host asked me a question which I hear all the time what’s the most important thing when it comes to Facebook ad lead costs? How do I get lower lead costs? And you know, most people focus on getting the lowest lead costs possible, but that’s a mistake. It’s not just about low cost per lead. What really matters is getting the highest quality lead at the lowest cost possible. That’s why I put that on my website. So today I’ll walk you through exactly how I attract high quality leads with Facebook and Instagram ads. You know people who are more likely to buy, engage and stick around without burning cash on cheap, low intent leads Sound good, let’s go so like.
Speaker 0:
The problem with chasing super low cost leads is, while a $2 lead or $1 lead, that might sound great if it was just about getting lowest lead costs. Well, I could give you some things that you would not want to do, as in, you could do these to get super low lead costs, but those leads would not convert. Like, for example, you could just target any old country, not paying attention to where your clients usually come from, and Facebook and Instagram meta. Their algorithm will go ahead and optimize for those people great people, but they might not be qualified to buy your offer. Or imagine if you had a webinar where you’re going to sell a $500 offer but you were targeting, you know, a bunch of countries from, let’s say, southeast Asia or the near Middle East. Again, you would get leads onto your email list for like pennies on the dollar. But who would be able to buy an offer that’s $500 if it costs, say, three months, four months of their salary, a year of their salary? Right? So the thing is is when you don’t have good targeting, facebook and Instagram meta the algorithm. It tends to optimize for like cheap leads by showing ads to low quality audiences. So you really have to get good about your targeting and be intentional with it, which is why one of the audiences that I go to first when I start managing ads for a client is a look-alike of their current email list, or even their current client email list, the segment of their email list, because people who have already opted in to something and given you their email you know that’s a good indicator that could be the right kind of lead, and people who have already done business with you are the best kind of lead. So why not upload that list to Facebook and Instagram meta, if you will, and say, hey, here’s this list. Can you give me a bunch more people who share similarities to the folks that are already on my list?
Speaker 0:
Now, I talked about wanting to focus on a high quality lead, right? So here’s what you do. You speak directly to the people in your ads who you can best serve, and you do that on sales pages and emails too, like, take ads, for example. I can get better at this, but I don’t do e-com ads. Therefore, I don’t make episodes that have to do with the difficulties and challenges and successes that someone would have if they’re running ads for e-commerce. And, by the way, if you’re like, but Kwejo, could you do my ads? I have digital products, e-com ads. When I refer to that name, I mean folks who have like 40 products they’re usually physical products, you know on their sale, on their website. There’s something called D-com, like the letter D in com, like digital commerce, where you might be a course creator, a coach, a membership owner and you have like four or five different courses or offers on sale. You’re not doing E-com and so you still fall into the, let’s say, the kind of person that I could serve and work with. So I try to speak directly to course creators mostly, somewhat to coaches and somewhat to membership owners.
Speaker 0:
So the first step to get high quality leads is to actually do your good research right. That quote by Thomas Edison. We miss out on opportunity because it’s dressed in overalls and it looks like work. You can’t attract a high quality lead if you don’t know what they need. That rhymed. So look at your best customers, for example. Where have they come from? What help did they need the most?
Speaker 0:
If you do one-on-one consultations, coaching, dump your transcript into your favorite AI and ask your AI to analyze the customer. What questions do they ask the most? I have a knowledge base of all and this document it’s a Google document it contains all of my transcripts for my coaching calls and I will routinely just dump them all into ChatGPT. Actually, I have two knowledge bases now because there’s so many calls, and I’ll ask ChatGPT like what do my clients I’m like these are my ideal clients, what do they most need help with? I’ll ask chat GPT like what do my clients I’m like these are my ideal clients, what do they most need help with? I’ll even ask for podcast ideas. I’ll even ask for all the questions that were asked and then to order them in the frequency that they were asked. You know paying attention to lump similar questions together this sort of thing AI is great at that, and that research will really help you. If you ask what are the common pain points or just say here’s all my coaching calls, can you really deduce who the best kind of customer is? Because I love working with the folks who are on this coaching call and watch the inferences that AI comes up with.
Speaker 0:
You could also look to your course and see which lessons are watched the most or which lessons have the highest retention rate, if you will get the most not views, but have the highest percentage of the lesson completed. Or if you’re giving a call to action on your social media content, to DM you with questions. What kind of questions do you usually get asked? Ask your audience in emails for feedback. Have that email in your onboarding sequence or your opt-in sequence for a free lead magnet that asks what problem is top of mind and what questions do they have for you. They could just hit reply. You won’t get tons of people that hit reply, but you will get some and store those questions somewhere you can do a simple survey, for example on your thank you page or following one of your launches. All these will help you find the quality customer.
Speaker 0:
So your lead magnet needs to serve a specific problem. Your program or your service needs to solve a specific problem too. So here’s a quick exercise write down the problem that your offer solves. So, if you’re thinking about running ads to a lead exercise, write down the problem that your offer solves. So if you’re thinking about running ads to a lead magnet, write down the problem that your lead magnet solves. Okay, or your program. And now that you’ve done that, write down the frustrations that stem from that problem. Get five frustrations, because it’s these exact same frustrations that you’re going to test as hooks in your ad copy to see which resonates the best. And you’ll know which one resonates the best because, let’s say, most of your ad copy is the same but the hook speaks to different frustrations. Well then, which ad will be getting the lowest cost per lead? That is the ad copy that works the best. Of course, you want to make sure all of your ad copy is paired up with the same graphic text on image right that’s easily consumable in a matter of seconds. That way, you can say the ad copy is the only variable that is different.
Speaker 0:
This is the first phase, by the way, of my olympic gold testing framework, which I outline in my course, called the lead gen cheat code. It’s $37 normally for you because you’re listening to this podcast, right now it’s just $17. I’ve seen students in there cut their lead costs over 50%, up to 60%. So just like think for a moment either you’re gonna be able to spend half the money on ads or you can double your email list in the same amount of time. Sorry, because you’re getting double the leads because you took the time to cut your lead costs. There’s four phases that I test through on every client and I outline those in the course. And also this is something where, if you ever wanted to peer over my shoulder and see how I deal with all the surprises that happen in an account as I go through this phase because nothing is ever perfect, as you probably know, since you’re managing ads for yourself then you’re in luck because that’s inside of the course too.
Speaker 0:
So test your ads that speak to different frustrations or test different angles. The way you frame your message matters. Here’s an example, and I’ll use myself and an ads example. You could have an urgency driven hook stop losing money on ads that don’t convert. Or maybe you have like a pain focused hook, sick of launching to crickets. Right, there’s the pain of a bad ad. Or an aspirational type hook, like what if your next launch brought in 5X the amount of sales or 5X more sales? And then you know what are the frustrations for people who are not great at ads.
Speaker 0:
For me, I have an ad copy frustration. It’s like. So a hook could be like are you tired of spending hours writing your Facebook and Instagram ad copy just for your ads to not convert anyway? Ooh, well, that’s to people like me who don’t like writing. You know, but are you good at writing copy? But do you just get stuck on what images could really stop the scroll and boost your ad performance? Okay, there’s another frustration, right, that’s focused on the ad creative. Well, now you have some examples. Go ahead and translurptate those examples to your own business and get some ad copy that you can start testing and watch for which one performs best, and your business will love you for the results. Your future self will thank you that you did do the work.
Speaker 0:
So a couple signs you might wanna know that you’re attracting high quality leads. And, by the way, let me back up a second If you do this research, then your ad copy is speaking to the best kind of lead. Right, because you’ve tested it. Okay, so that’s how you know you’re attracting a high quality lead. High quality research begets high quality leads, because you’re speaking to the right people.
Speaker 0:
Now, as you’re attracting them, here are some signs they’re opening your emails. Do you have standard open rates or above? You know 30 percent or above email open rates? What about click-through rates? A link click the rate in your email could be a click through to your account on Instagram to follow. You could be a click through to watch an episode on the podcast. Could be a click through, hopefully, to your sales page for one of your offers. But are your click through rates on point? Do people engage with your content? Do they ask questions? You know the very obvious one do your leads move forward and buy your paid offers? Do they book discovery calls with you? Do they pay for coaching? Do they purchase your course? Because if you’re attracting low quality leads, it just low quality leads. It hurts. It hurts. It really does, because not many people are opening our emails. Nobody’s buying our offer, you know.
Speaker 0:
Here’s a quick action step go into your email crm whatever you use convertkit, kajabi, you know active campaign and look at the last 50 leads. How many of them opened at least two emails? You can have your va on your team. Do this. If you have a va, how many responded to a cta? You know, if you have an email series about booking a call, how many of them actually booked a call with you, so on and so forth.
Speaker 0:
What I want you to understand is that don’t just chase the lowest lead cost. It’s really about a high quality lead. And if you’re running lead magnets, say to a webinar, or if you have a low ticket offer that you’re selling, you really want to be looking at the number of leads that you’re bringing in and the amount of money you’re making per lead. And as I hold my hands and I separate them one at my forehead, one at my chest this top hand equals the revenue that you’re generating per lead and this bottom hand is the cost per lead for running Facebook and Instagram ads. And you want this gap, this profit gap, to be as big as possible. And after you research your best customer, then you can get focused on attracting more people like them, because you’re crystal clear on the real problem that your lead magnet program or course solves. By the way, if you’re like my course solves three problems, well you probably should focus on one, because your messaging’s gonna be diluted if your messaging has to focus on folks that are coming to you for three different problems, and I bet that those three problems are not created equal and that most people that you are helping enact a transformation in their life actually are coming to you for one problem.
Speaker 0:
So test different angles, too, for your ad copy, for your hook, especially that portion at the top of your ad copy and see what resonates.
Speaker 0:
This is where the success in 2025 will come. This is where because of messaging and because of messaging and good messaging again is where you’ll see business growth, because, look you, my friend, were put on this earth with skills and passions that were meant to help people, and so this research yes, it benefits you and your business and your family Awesome but it also means that you can accomplish more of your mission, serving more of the people who you were meant to serve and, if you need help, lowering your lead costs with my tried and true framework that I use for every client. I mean you can lower your lead cost in just over a week and that’s in the ad testing cheat code normally $37. It is for $17 right now down in the show notes below. Find that link. You deserve lower lead lead costs and the double your email list With the right kind of people until the next time you hear me or see me. Well, take care, be blessed. See you in the next one. Bye.
