Brands using Facebook for lead-generation campaigns would be wise to strike often early in the week.
Digital advertising automation software provider Nanigans, a Facebook Marketing Partner, found that ad spending and conversions are highest on Sundays, and they remain relatively consistent through Wednesday, before slipping slightly during the remaining days of the week.
Not surprisingly, average costs per lead followed suit, coming in relatively lower earlier in the week and then rising Thursday and Friday, before coming back down over the weekend.
Nanigans also found that cost per thousand impressions (CPMs) for lead-generation advertisers has increased 30 percent since the first quarter of 2015, while Facebook advertisers using its platform have seen their CPMs rise 50 percent overall during that same time period.
The lead-generation ad sector is relying more on mobile, as Nanigans found that 80 percent of ad inventory in the category was mobile during the third and fourth quarters of 2015, compared with the overall U.S. mobile ad spend in the mid-70 percent range during the same period.
Lead-generation advertisers accounted for a larger share of total ad spend during the second and third quarters of 2015, according to Nanigans, which added of its findings:
Throughout 2016, many of these same marketplace trends will likely continue. Earlier in the week will remain the most active and lucrative days for lead generation on Facebook, with higher conversion rates and lower costs on a per-lead basis.
Advertisers focused on lead generation are especially data-driven, maximizing every chance for higher returns through testing, iteration and adaptation. With a high demand for leads across a wide spectrum of industries, it’s important to remember that performance will depend entirely on specific business conditions and campaign strategies.
However, new innovations will continue to influence campaign performance and unlock higher potential return on investment. Adoption of Facebook’s carousel ads for lead generation is growing significantly. Moving forward, Facebook will also continue to optimize its new lead ads, which streamline the form submission flow to help improve conversion rates. Finally, Facebook’s targeting options are always evolving to enable advertisers to do an even better job of finding, engaging and converting prospective leads.
Readers: What did you think of the findings by Nanigans?