Hey there. Welcome to Hopps help where we try to answers questions in two minutes. The question for today is what is the price difference between running a lead ad campaign on Facebook and running a re-targeted campaign?
And then they go on to say, I was wondering, is there really a price difference between running a cold lead ads campaign on Facebook versus running a retargeted campaign?
So, to answer this question best I have my ad camp ad account pulled up, but I want to go in and start to say that this question has so many variables depending on it, because if I were to run a cold lead ad campaign, right.
So, let's just say that they're probably talking about a lead generation campaign, right? So that means I'm trying to collect information from people on Facebook to opt-in for whatever I'm doing.
It all depends on the market I bid into. So, some markets like let's hypothetically say that we have a law firm and we have a real estate market, right.
Two different markets. And this one, you know, is average higher to bid into than the real estate one is so it all depends on what you're bidding into and how much, of course, your budget is that will kind of give you.
So, it's really important that if you do a lead, a leads campaign or, and a retargeting campaign to watch your, your KPIs or your key performance indicators, because this will tell you if you're really bidding to the right one and what's working better or not.
So, let's just say I have two campaigns running. Let's just say that I have a test conversion campaign, this one, and then I'll just duplicate it real fast to go into a test conversion campaign to, okay, so we have one and two, right?
So, let's just say that, that, that this is my lead cold leads the campaign, and this is my re-targeted make it easy.
You're targeting. Okay. So, say I run them simultaneously and I have all this data, right. It's okay. So, let's just say that I go down the line and say that I have a store, for example, I'll compare purchases, but I would mostly compare the CPM during the process.
I would watch the CPM because this tells me if I'm bidding into an expensive market or not really expensive market, of course, it's other indicators too.
But, I really watch CPM to kind of give me a good gauge on what I'm trying to do. And then from there, I just kind of follow along the funnel and kind of compare it, but also really watch the data to make sure that if I have X amount of ads cards, but it only progressed to X amount of purchases on my retargeting versus my conversion was should the opposite.
Wasn't performed better at the end of the day, you know, compared to how much I spent. So, there are so many factors that come in.
So I hope that helped if you need any one-on-one help with Facebook ads to hop on https://app.hopps.io/session/create to work as a live expert today, have a great day.