The Coronavirus pandemic has immensely destabilized businesses across the globe. As a result, it has led to economic uncertainty which in turn has negatively affected the marketing budgets and campaigns.
By cutting the marketing budgets and campaigns, it would mean that the average cost per click will drastically reduce by 50% globally. And these would lead to a significant drop in an advertisement for those who rely on it.
So, instead of deciding to stop your campaign altogether, you may use a better digital marketing strategy that will help your business to grow despite these hard times. Why not try to reduce your spending and invest more in your PPC campaigns?
Here are some really simple changes that you can make to the PPC campaign that can help you reduce your cost per lead.
- Adjust your ad schedule to show up during the best performing time
During this corona pandemic, things are not normal and therefore there is a need to invest more in the ads. You need to look at what hour, week, or day that will give you the most conversions.
Select the 2 or 3 days that tend to get the most conversions and decide whether to exclude the other days for the time being or reduce the bids on those days.
- Cut cost by reviewing the device –level performance data
When looking at the overview tab, you will find a chart showing your performance on the device level. You can use this to information to reduce your cost per lead by adjusting bids for the best performing devices.
The first thing to look at is the cost per conversion. For example, the commodity that has resulted in the highest cost, you may decide to either reduce its bidding price or exclude them altogether.
- Deep dive into your keyword and position level data to find quick wins
The keyword plays an important role when it comes to analyzing its performance in pay per click. If you need to appear among the top four positions in the search engine, you need to invest heavily on how you can come up with right keywords.
- Refer to your auction insights data
The auction insight will help you to see other websites that are also advertising for your target keywords and give you an idea of how your ad is performing.
If you see yourself far ahead from your competitor, you need to experiment with reducing your CPC until you are ahead of your competitor.
- Adjust your targeted keyword
You need to analyze your target keywords to see which one is resulting in lower cost conversions and which are costing more. So that you can use the available budget for keywords that cost the least to deliver leads.
- Budgets and spend
In this corona pandemic, you need to re-evaluate your budget and only spend on products and services that have more relevance during this national emergency.