[Case Study] How we generated 1,000 B2B leads for less than $100 on Facebook

Facebook is one of my favorite growth channels because of the sheer volume of data points made available by Facebook Adverts for advertisers. It’s a gold mine in a true sense for all advertisers who want to deliver campaigns to a laser-focused audience.

Product:

We worked closely with a social enterprise that was working towards reduction of indoor smoke for rural women in India. Research suggests that women who use wooden chulahs inhale smoke equivalent to 15 cigarettes a day. So they have this innovative cook stove that would reduce smoke by 85% that not only saved many woman from inhaling harmful smoke, but also reduce CO2 in the atmosphere.

They are truly making this world a better place.

Challenge:

B2B distribution of stoves in the rural parts of India.

Target Audience:

Segment 1: Local supermarket owners in tier 3 and tier 4 regions of India.

Segment 2: Local NGO’s and self-help groups working for the welfare of women in tier 3 and tier 4 regions of India.

`Channel:

Facebook Ads

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Growth Experiments:

From our initial research and team’s past experience dealing with different customer segment, we figured that reaching out to local NGO’s and SHG’s should be a first priority. The reasoning was simple – they are working on ground to improve the quality of life for women in rural parts of India.

So they could clearly connect with our problem statement and in-fact were looking at a product that could solve their problem – reduction of indoor smoke for women – better chulah without smoke.

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In a hurry? You can also read later here

Experiment 1: Audience match for Product

We focused on 13 states in India and narrowed our target to key individuals who were involved in building self-help groups, microfinance for women, multi-fuel stove etc. 

Assumption: We assumed that these key decision makers will have access to Facebook and are regular Facebook users.

Growth Hacking Agency Facebook

We initially run the campaign to gather enough reach and engagement, so we waited till we got 1,000+ impressions about 25 likes and comments on these ads. This was a good engagement ratio.

We were tracking the users who were liking the ads and saw that their profile matched with our target audience by almost 85%. We also saw about 8 comments coming in asking more details about the product.

 Interestingly, this experiment cost us only Rs. 54/- This was a good start.

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Experiment 2: Lead generation

Now that we had a good audience match, we setup a simple lead form within Facebook, so users who were interested to know more could directly leave their contact details. We kept our form very simple, just 3 fields – Name, Mobile and Email – nothing more.

First 2-3 days we saw about 20 users sharing their details. The cost per lead was about Rs. 40. We optimized a bit and in the following month, we saw cost per lead dropping significantly and that also got us more leads.

We also had a team to call these new leads to add them to the sales pipeline. This ensured high quality targeting and gave us confidence to scale the campaign.

Result:

We got 151 leads by spending only Rs. 723/- (about $10) and CPL was Rs. 4.79/-

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Experiment 3: Slightly broad targeting to reach more users.

With good success from last campaign, we setup another campaign to reach more users, so we added a few broad audiences to our targeting.

The new targeting was bringing in more engagement on our ads and also drove some traffic to our website, it was affecting our core metric, CPL. Over next month, we optimized this campaign to reduce CPL but the best that we got from this campaign was not good enough.

Growth Hacking Agency Facebook ads

Results:

We got 254 leads by spending only Rs. 2,118/- (about $30) and CPL of Rs. 8.34/-

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Experiment 4: Local supermarket owners targeting

We setup lead generation campaigns to connect with supermarkets owners and distributors. The plan was to have presence in supermarkets locally to influence local NGO’s and SHG’s with social proof and ensure easy availability.

Growth Hacking Agency Facebook ads

We launched this campaign in 13 states in India and started getting good engagements on all our ads.

Growth Hacking Agency Facebook ads

Result:

We got 653 leads by spending Rs. 3,514/- and CPL was Rs. 5.38/-

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Overall Results:

In about 3 months that we ran this campaign, we got some pretty interesting outcomes.

Growth Hacking Agency Facebook ads

We got 1,127 leads from all the campaigns by spending Rs. 6,628/- (less than $100) on Facebook at a CPL of Rs. 5.88/- (less than 9 cents).

As a bonus, we also got good engagement on our Facebook page and traffic to our website.

Growth Hacking Agency Facebook ads

We got 728 new likes and 3,771 clicks to our links.

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Pro tips:

  1. Always be measuring – whether it’s your impressions, reach, click, CPC, CPL etc. Each and every metric must be defined for every campaign and be measured constantly.
  2. The decisions you make must be data driven, else the growth experiments will fail to deliver real value.
  3. To ensure high quality engagement, take some time out to analyze who is engaging with your content by visiting their individual profiles. This will save a lot of money and resources in the future.
  4. Run smaller growth experiments to validate your assumptions and only when it works well, add more budgets.

8 thoughts on “[Case Study] How we generated 1,000 B2B leads for less than $100 on Facebook

  1. Jatin Reply

    Hi Sathyanarayana, I ended up here through your Linkedin message. Great insights!

    However, I wanted to understand what was your lead –> business conversion rate?

    Where I’m coming from.. lead gen has fairly gotten easier native forms making the CPL reduce significantly.

    Look forward to your reply. Or you can DM me on jatin@zapr.in, I’d love to discuss. 🙂

  2. Smita Reply

    Well explained. Very doable for most niche businesses. Thanks for sharing.

  3. SHWETA KAULSEE Reply

    Hi Sathyanarayana,

    Thank you for sharing the insights. Great campaign. As Jatin mentioned I would also like to know the conversion ratio. You preferred a simplified contact form, which unfortunately can not check the lead quality. You had a separate team to qualify the leads, so I assume that these are marketing leads only, not the sales leads.
    Also the product is strictly for rural India where facebook is majorly used as entertainment media, so I see there is a limitation in the reach/covering target audience.
    I work in real estate industry, and we face this problem that we do generate a good number of leads, how to focus more on quality and correct targeting.
    Your insights would help us improve.
    Thank you

  4. Mahipal Jadeja Reply

    Its wonderful, good to explained everything step by step, i love it and surely i’ll use these strategy in my next facebook paid marketing ads.

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