Attract attention with CPM
When it comes to generating awareness for a specific product or service, the most cost-efficient and effective payout option is CPM.
These campaigns, by their very model, attract visitors, tell the story of the offer in a unique and interesting way, whilst bringing in leads en masse that can be converted into paid customers. Just bear in mind that at this stage of the process, the less specific you are, the more traffic you stand to attract.
Optimize your online advertising with CPC
Once you’re happy with your brand awareness and able to correlate a rise in website visits with your CPM campaigns, it’s time to address the middle of the funnel by implementing CPC campaigns.
These campaigns are great for impacting the overall user engagement, where you as the advertiser pay for specific clicks. In turn, every click assumes a marked interest in the offer and a strong lead for potential conversions.
Pro Tip: effectively structuring your click path will bring in the most engagement from CPC campaigns. Specifically, your ad should redirect to a landing page that either converts or sends them elsewhere.
Track each stage of the buyer journey individually and identify where bottlenecks are popping up. CPC campaigns are not only a good way to target conversions, they’re also a good way to test your campaigns for future gains.
Bring home the sales, with CPA campaigns
Once tested and optimized, use CPA campaigns to target the bottom funnel. Here you will ask traffic sources to perform a specific action or task. Make sure they are primed to convert, with strong messaging, high-visibility offers, and direct Calls to Action (CTAs).
Remember, you can use multiple CPA options to drive specific outcomes. For example, if you provide a service that has a longer path to purchase, you might not want to ask for the sale immediately.
Instead, start with a registration prompt, in the form of a newsletter subscription, eBook download, or information page. Traffic is likely to commit to smaller “micro-conversions” before converting to something larger.
Be aware of this and stick with your buyer throughout the purchasing funnel. Become a tried and tested, positive customer experience and the first point of contact.
The stronger the sell, the better your ad strategy
To effectively select your payout options with the budget you have, you’ll need to have a strong understanding of your overall sales funnel and what you’re looking to get out of your online advertising efforts.
Analyze each stage accordingly and strengthen areas where your campaign performance may be dipping or dropping off.
Sales funnels are dynamic in nature and never as straightforward as they appear. Therefore, you may combine payout options at specific funnel stages or substitute one for another. The only way to know which online advertising strategy works best is to test, test and test again.
All the best in your online advertising journey, and always feel free to reach out to us at any time right here, for tailored tips, tricks, and trends to boost your campaign profitability from month to month.
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