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You could be wasting your advertising money - What to think of.
People are always swearing off certain ad platforms because they are wasting their money on them. Now it may not be the ad platform because you could just be screwing up your ad campaigns and pricing which will make anyone go broke pretty quickly. You need to manage these types of campaigns or they can get out of hand pretty quick. Below I'm going to go over some things you need to focus on in order to stop wasting your advertising money.Let's Get Started
1) Cost Per Click (CPC)
Many people with a large budget will just set their CPC at $1.00 and not worry about what happens next. This could be pointless if your competitors are bidding $0.10 per click. Now you'll be guaranteed to be in the #1 position with a $1.00 bid compared to a $0.10 bid but you don't need to bid that high. You will need to be adjusting your bid so that you are in competition, but always winning, with the people targeting the same keyword. If you figure out they are bidding $0.10 per click then you can adjust your own bid to $0.15 per click to ensure you're not going broke overnight if someone increases their bid to $0.99 per click.
Now you can set a daily cap on how much you want to spend, but some people forget to set that at a reasonable number because they think that there won't be enough traffic to pull that much money out of their accounts. The sad thing is that a large corporation can come in and bid $0.99 a click and if you're bid is $1.00 and let's say $500 a day, then you're easily going to go from spending a few dollars each day to losing your business when you get your bill
Money piles up quickly when dealing with advertising platforms, so be sure to monitor your competitors and set your daily budget as a kind of safeguard just in case a big fish comes into your niche.
2) Mobile Traffic
Whenever you're running an advertising campaign you will need to know if your website is responsive (mobile optimized) and if your items are going to sell when someone is browsing on their phone. I've had ad campaigns bring in 1,000 clicks for $30 but I had no conversions because the ads were popping up on mobile apps and the clicks were accidental. Now you can decrease your mobile views exponentially, but the default campaigns are always set up to send you as many clicks as possible within your budget. I was getting around 950 clicks from mobile ads on random games and 50 from desktops and laptops. When I decreased my mobile ads bid by 90% I noticed my clicks were severely reduced but my conversions were much better. I was able to spend my daily limit of $30 on clicks there were legitimate since the ads were in front of people searching for what I had instead of clicking an X on a game and accidentally clicking through to my website.
3) Ad placement
You can get a really low priced banner or text ad on an extremely high trafficked website, but if it's in the wrong place you won't get many clicks. Getting your advertisements above the fold will always result in more click throughs and conversions. I hate seeing a large banner ad position in the footer of a website because I know someone will buy it and just waste their money. How many times have you went to the footer of a website in order to look at something besides an "Affiliates" link? lol. Footer ads are usually cheaper than top banner or leader board positions, but not by much. The click throughs are garbage and you will almost never get a positive ROI when it comes to this advertising placement
In conclusion, monitor your PPC campaigns like a hawk and figure out what your competition is bidding. Doing this will reduce your daily spend and increase your conversions at the same time. You also need to focus on your mobile traffic, if you're not selling something general then you may not have as many sales. Never purchase a footer banner unless you have money to waste on testing the placement. Sometimes it can be worth it if you're getting the clicks, but not usually
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