Lower Cost per Acquisition
The Problem – Highly Competitive Bids
Searches are getting more and more competitive. Thus the cost per click is going up. I’ve seen some clients paying over $30 dollars per click!
Cost per acquisition can effectively be driven down using optimization techniques to improve clicks on Google, Bing/Yahoo and other highly targeted search networks.
#1. Target online video
YouTube gets more searches than Bing or Yahoo every year. Cost per view can be far cheaper and far less competitive (video search is far less competitive) than search, additionally, it can be highly targeted by keywords, location, age group, gender, video subject and target markets (any site that uses You Tube videos) in pre-roll, click to skip, etc.
Recommendation: Target all of your highly competitive (high cost per click) search terms on YouTube and other video channels to lower cost per acquisition, in additional to using traditional search avenues, to dominate searches with much less competition.
#2 Remarketing & Retargeting
Remarketing (AKA Retargeting) is a great method to bring additional value throughout the year – by re-targeting visitors.
“Using remarketing to reach people who visited your site”
“Remarketing is a feature that lets you reach people who have previously visited your site, and show them relevant ads when they visit other sites on the Google Display Network. When people leave your site without buying anything, for example, remarketing helps you connect with these potential customers while they browse other websites. You can even show them a compelling message or offer that will encourage them to return to your site and complete a purchase.”
“Use remarketing to match the right message to the right people. Here’s how: You add a piece of code (remarketing tag) to all of the pages of your site. Then, when shoppers come to your site, they will be added to your remarketing lists. You can later reach out to these potential buyers while they browse other websites.”
#3 Separate Display From Search Campaigns & Test, Test, Test.
Recommendation: By testing different headlines and ad copy as well as the different Search options – you can increase the clicks and cost per acquisition for several goals on your site.
Opportunities to increase REVENUE:
#4. Capture more identities
Avoid site bounces, through split testing pay per click ads, catchy headlines, offers, landing pages, text and video landing pages and display campaigns.
#5. Follow up better.
Create campaigns to follow up with up to 18 email offers, continual communication to keep visitors coming back (reminders, etc.)
(Secret Bonus) #6. Ask for reviews & referrals
Make users give referrals and reviews, use social media sign-ins, etc.
After visitors use the site or software, you should ask for more reviews, social media sign-ins, likes, +1’s, Tweats, etc.
Why you should care about Cost Per Acquisition
Search Marketing has become one of the most effective ways to target exact searches and highly qualified prospects; many would argue that it is the most effective way to reach specific demographics, now that Cost Per Impression statistics have been less effective by use of DVR’s, Satellite Radio, and lower Magazine & Print readerships.
An Aggressive Timeline
Over the next year, through testing, tracking and optimization, revenue can be greatly increased and cost per acquisition can be greatly reduced.
Can you think of any other great ways to lower your cost per acquisition?
There’s always a better way to do things – Charlie