Strategies On Bidding
Hey guys, we’re shooting some videos in Maine today and I want to talk about a specific strategy on bidding in your business on traffic whether it’s pay per click, pay per view whatever it might be. There are some specific things that I learned over the years to get yourself media traffic and actually make as much profit as you can, as more as you can. So this important video might be short so wait to the point but what got me here save me tens of thousands, hundreds of thousands of dollars. The first thing about traffic is when you’re starting out on like PCV or PPV is what I like always to bid high to start because I can get the traffic immediately and I can see how it converts. So now we’re trying to be conservative with your bids and you’re probably on a budget, you’re going to have a budget says either what you’re doing but if you’re really conservative and you set your cost per click too low or cost per view or whatever, you’re not going to get any traffic and you don’t know if it’s going to work.
So what I like to do is find out real quick if it’s going to work or not. So bidding higher, get to the traffic see if it converts and I’m not necessarily looking for profitability there but if I can get it to be close to profitability or breakeven or even just a little bit of a loss it means I’m probably pretty close to getting a winner. So that’s one of the strategies. Now keep point with this cause you want to make sure you got a maximum cost per day on this or maybe if you’re Googling it to your max video on key to campaign if you’re doing traffic ads or whatever it is or Yahoo you can always set up a matching bay.
I took a shower once and when I came down I was already down 300 bucks in the campaign while I was showering so the reason it happened is that I didn’t put a maximum bid on that and there was another time actually just recently I got into my office and we logged in and there was a keyword just tell you what it was Facebook doing a little test and of Yahoo and I was just trying do a little test but it’s actually been 13,000 dollars before 9 in the morning so the keyword I had submitted it didn’t get approved right away the unapproved it I showed up the next morning after submitting it the day before and you know I was monitoring I’m going to teach you to do whenever you’re sending something you want to look really I’m on it several times a day just looking at what it’s doing as it’s getting clicks cause I really can usually tell people what it’s job or not.
But on this particular campaign, I just it wasn’t approved I forgot to put a max per day in I walked into the office I happened to log in I was so lucky I did it already spent 13,000 driven a lot of clicks at a really low cost which is pretty cool but what wasn’t cool you know is I was running off to might’ve converted to two to three hundred bucks and most of 11,000 dollars before 9 am on that. So bidding strategies again sit a good tie but making sure you got max per day on that campaign that you’re running whatever media it is cause if not, you’re going to get yourself in trouble like what I’ve done in the past as well but if you put that in place.
For example, let’s say you might be saying I set my maximum bid to if you’re trying to generate a lead and you want your lead process to be 10 dollars a lead you might set the campaign to 20 bucks okay so if you’re whether it’s lead for yourself or somebody else if you spent 20 dollars and there’s nothing really happening yet you’re already doubling I might go to 30 dollars on that 2:1 or 3:1 the same thing converts but if it’s not converting I would set my max per day for example at 30 bucks if I was trying to convert it to 10 dollars a lead cause I’m willing to take a little bit of a loss potentially but I want to see if the traffic converts so I hope that makes sense.
So when you’re setting a budget do it just a little bit over sometimes 2 to 3 times as much sometimes even less you know if it’s a dollars bit type thing you can always spend whatever 3, 4 bucks and you would know real quick if it’s gonna convert so those are some key strategies on bidding and setting your max per day so I advice you to take that advice and follow your business.