The basic information you need (name, phone number, email address) is automatically completed, but making it easy for the user is not as good for you, as an advertiser, as you may think. An easy process most of the times means poor quality of leads.
In order to raise the quality of the leads, the first thing you need to do is add at least one extra question that can not be auto-completed so the user has to formulate and write the answer himself/herself.
Making the form harder to complete is actually good for getting more qualified leads.
You can ask about the user's expectation from the service or what is important for the user in the decision process when choosing a provider for that type of service. It also helps that it provides additional information for the sales team that contact the lead afterwards.
Now let’s talk about targeting.
As you probably know, the algorithm works best in terms of costs with larger audiences so it’s a good idea not to narrow your audience too much, but still keep it relevant for the service you are offering. Filtering the audience will be both through targeting and designing the lead form so there is no need to narrow the targeting.
Is lookalike your friend?
Yes and no. When using lookalike audiences in Facebook the source-audience is very important. You need to have a good quality source-audience so the lookalike would be the same. If the lead form in the website brings good quality leads, you can make a lookalike after it.
But if you do not have a good quality source, then lookalike is not your friend and you should use other types of targeting.
What about the users who opened the form but did not complete it?
It may seem that this is the low hanging fruit just like targeting users who have added products in the cart, but did not buy for an ecomm, but it’s not.
Let’s circle back to that at least one extra question. The purpose of it is to discourage the users who are not that interested in actually buying the service from completing the form and becoming a lead. Getting more qualified leads means not getting completed forms from the users who would be poor quality leads for your service.
So this means that the poor quality leads you are not getting anymore are among the users who have opened the form, but did not complete it. Don’t target them.
How do I measure an increase in quality?
The conversion from lead to client will never be 100% so you need to make an internal benchmark.
First of all, you look at where you’ve started from. What was the conversion rate from lead to client when you started the campaign and what is it now? Do you see an improvement?
Secondly, you look at the overall quality of leads from all sources. How is the conversion rate from all leads (form all sources) to clients? If the one from the Google or Facebook leads forms is much lower, it means there is a lot of room from improvement.
Keeping in mind these simple recommendations, the rest is testing and optimizing along the way as every vertical and brand is different from the others and you need to find out what works in your case.