There are two Facebook advertising campaign objectives that people often get confused about how they work and which one they should be using. The first is the Lead Generation objective and the other is the Conversion objective and they accomplish the same goal but do it in a slightly different way. The Lead Generation objective is where Facebook is going to put out an ad and then when users click the ad a small lead form is going to pop up right within Facebook or Instagram and then collect their lead information that way and serve that lead information to you. This tends to be a lot more of an expensive option because Facebook is removing the friction of people having a click out to an external website and they’re actually serving you a lead that they’ve gained within their own platform so they’re going to charge you a lot more for that then they would with the Conversion objective.
With the Conversion objective you’re paying Facebook to send people to your external landing page or website and then have them enter their lead information there. Facebook is going to optimize to reach people who are most likely to fill out that lead form on that website or landing page. This is a lot less expensive in the long term because Facebook isn’t actually getting the lead within it’s platform and you’re doing the work of convincing them to provide that lead information on your landing page so they charge you a lot less for that. That’s why I’m really big about building out strong landing pages and strong websites that push people to convert because when you get into lead generation, particularly on Facebook it’s going to end up saving you a lot of money.