Should you use Facebook ads for your coworking space? Yes, you should!
Here's why and what we discovered in our two-month Facebook campaign. The goal was straightforward: generate leads and increase our Facebook page followers. However, the results were eye-opening and offered valuable insights into the effectiveness of different strategies.
Facebook Lead Generation Campaign: We managed to generate 32 leads, which included names and email addresses, at $3.62 per lead. Despite our prompt follow-ups on the same day, aiming to schedule tours of our coworking space, the response was underwhelming. Not a single lead converted into a scheduled tour. This outcome suggests that while Facebook can be an effective platform for capturing initial interest, it might not be the most efficient for converting leads into physical visits or engagements for coworking spaces.
Facebook Follower Campaign: Our follower campaign was a resounding success. Our initial target was to gain 100 new followers, with 60% of them being local to our town. Not only did we surpass this goal, achieving 202 new followers, but a remarkable 80% of them were local. The cost-effectiveness was also notable, with each new follower costing just $0.54. This success underscores the potential of Facebook as a tool for building a local community and brand awareness.
From this experiment, several key takeaways emerged:
Facebook Targeting Matters: Target individuals within a 20-mile radius of your location, this helps to create engagement, lower cost, and maintain focus on growing the base of individuals more likely to use your space.
Engagement vs. Conversion: Gaining followers on Facebook can significantly boost engagement and brand visibility. However, turning these online interactions into real-world actions, like visiting a coworking space, requires different strategies and perhaps a more personalized approach.
Cost-Effectiveness: The cost per acquisition in each campaign revealed much about the value offered. While gaining followers is cheaper, converting leads into actual customers is costlier and more challenging.
Adapting Strategy: Moving forward, I would recommend focusing more on building and nurturing the online community, especially among local followers. Engaging content, virtual tours, and special offers exclusive to followers might bridge the gap between online interest and physical visits.
Further Research: It's also crucial to explore why the lead generation campaign did not translate into scheduled tours. Surveys or direct feedback from the leads could provide insights into their lack of response.
While Facebook is a powerful tool for increasing visibility and community engagement for coworking spaces, converting online leads into physical clients remains challenging. The key is to continually adapt strategies based on campaign outcomes and audience feedback, ensuring that efforts align with the unique preferences and behaviors of the target demographic. We will adjust our lead-generating strategies and share what we learn!
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