Over the years, the demand for lead generation has increased by leaps and bounds. This is one of the major reasons why cost-per-lead has turned into a trending topic. Many businesses are keen on reducing their cost per lead value but want high-quality leads. If you are working with such requirements, keep reading.
Some strategies may reduce your cost per lead. But, the change will be temporary and not long-term. It is important to avoid such changes. Instead, focus on improvements that can deliver long-term results.
#1 Ad Reviews!
One of the simplest, but effective ways of decreasing your CPL is through ad reviews. Try to execute an AD performance analysis. Once the analysis comes to an end, you will have a report of how efficient your website is. For example, if your landing page has a low score, it could be because of a poorly drafted CTA. You may need to improve your landing page for more conversions, at a reduced CPL value.
Meanwhile, you need to keep in mind that keywords are important for any website. Try to bring up the relevance, and quality score of your site. These changes will reduce your cost per click.
#2 Automated Bidding
Do you have a very specific CPL goal?
If yes, you need to make use of automated bidding.
Automated bidding is a marketing strategy where bids are adjusted to match the campaign. As a result, you will be able to witness conversions and be able to achieve your goal. The bid adjustments happen in real-time.
When you venture into automated bidding, every strategy needs to be tested. You must experiment with how to split traffic between multiple campaigns.
#3 Historical Analysis
Moving on, you need to engage in historical analysis of your strategies for better conversion. You must identify where the actual problem is in your CPL campaigns. Try to drill into your ad groups. Then, you need to analyze the keywords. Some keywords may contribute to lower CPLs. And, some may not.
You need to figure out what really helps. Keywords work differently for businesses. This is mainly because of competition. When competition in your industry changes, the relevance of keywords will be altered. Thus, you need to hand-pick keywords that would best suit your business. When keywords improve your quality score, you don’t have to pay much for the bids. As a result, the overall cost per lead decreases.
#4 Performance Per Network!
This is a much-neglected technique for decreasing CPLs.
Checking performance by network works with the help of campaign segmentation. You must analyze the performance of every campaign. If a search is not working well for one of your campaigns, try to change or opt away from it!
#5 Performance Per Device
Finally, you must keep an eye on how your website is performing on mobile devices. Many times, businesses assume that their “perfectly designed” website would work well on both mobile and desktop devices. Well, the reality is different. Some campaigns work only on desktop devices. You cannot rely on them for mobile results. When such situations arise, you need to check performance by device.
