The message I get most often is some version of this: the ads are working, leads are coming in at a good cost, and none of them turn into money.

In nearly every account I have looked at, the cause was not targeting. Here are the five real causes, in the order I check them.

1. Nobody followed up in the first hour

This is the big one and it is boringly common. A lead fills in a form at 11pm, hears nothing until the next afternoon, and by then they have filled in two competitors’ forms as well.

Intent decays fast. The fix is not a better ad, it is an automated first response that goes out in seconds, followed by a human within the hour during working time. If you do one thing from this article, do that.

2. The form was too easy to fill in

Meta’s instant forms pre-fill name, email and phone. That is exactly why they produce cheap leads and why so many of those leads do not remember filling anything in.

Adding one or two qualifying questions raises your cost per lead and raises the quality more. A form that asks “what is your monthly budget” produces fewer, better conversations. If your sales time is the bottleneck rather than lead volume, this trade is almost always worth making.

3. The offer in the ad is not the offer on the page

The ad promises a free audit, the landing page asks them to book a sales call. The ad talks about price, the page talks about credentials. Every mismatch between what was promised and what appears next costs you a percentage of the people who clicked.

Read your ad and your landing page one after the other, out loud. The join should be invisible.

4. You are optimising for the wrong event

If you tell Meta to optimise for leads, it will find you people who fill in forms. Some people fill in a lot of forms and buy nothing. That is not Meta failing, that is Meta doing precisely what it was asked.

Where you have the volume to support it, optimise for the event closest to money you can actually feed back: a qualified lead, a booked call, a purchase. That usually means sending a conversion event back from your CRM rather than letting the form submission be the finish line.

5. The campaign never exited the learning phase

Meta needs roughly 50 conversion events in 7 days to optimise properly. Divide your daily ad set budget by 7.14 and you get the most expensive result it can sustain. If your real cost per result is above that number, the ad set is permanently exploring, and exploring is expensive.

Also worth knowing: editing budget, audience, creative or optimisation event resets learning. A campaign edited on day three and again on day five has never actually run.

The order to fix them in

Follow-up speed first, because it is free and it is usually the largest single leak. Then offer-to-page match. Then qualification. Then optimisation event. Then budget maths.

Targeting is last on that list on purpose. It is the thing everyone changes first and the thing that is least often the actual problem.

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