Lead generation ads are Facebook ads that let you gather information from your audience. In return, you offer them something of value - it can be a product or service in your business.
(Learn the basics of lead generation ads right here.)
When setting up your lead gen ad, you might be wondering, “What available objectives are there for my ad?”
The answer is that you can only choose between the Lead Generation objective and Conversions objective.
Between these objectives, it is only Lead Generation that allows you to create a contact form on your Facebook ad (see screenshot below). This means that people can enter their information on your ad without having to leave the Facebook platform.
Therefore, Lead Generation is the recommended objective for collecting potential leads.
In contrast, using Conversions as your objective means that you take people outside of Facebook to your landing page (where your sign-up form is).
What if you want to select Conversions as your objective instead of Lead Generation?
In this case, you will first need to install a Facebook pixel on your website (there are 3 options for setting it up).
Be sure to use a Standard event such as Lead or Complete registration. These standard events will be able to track when a website visitor fills out a form or signs up for a trial/subscription on your page.
Here are more recommendations and requirements for lead ads to know about.