I am getting started with a small budget at the moment and some where I read Ryan Eagle say that POF is recommended for starters. I guess it was on Justin Dupres blog.
Anyway,
I collected a few good images, and followed some guidelines from the book cashvertising to make the add more attractive and get a higher CTR with all the colors and everything to promote a dating related offer paying $3.5/lead.
Now the minimum bid on POF is $0.40 and more the CPM = more then CTR thats what Ben from Plenty of Fish says on Riley Pool's blog.
If I bid $0.60 and spend $200 and I get a max CTR of 0.20 and a conversion ratio of 5% i would be making half of what I am spending i.e around $100. I can see that the only way to make profit is to get exceptional CTR's (above 0.50%)
I don't know if its information overload or my calculations are wrong, but this really got me thinking as I have a limited budget and don't want to spend money where the chances of it working out are less.
So, what do you guys think of this?
Thanks.
Your assuming things way to much, the offer will not convert at 5% at every time of the day thats when you look into day parting. Also your CTR will vary, to many things will vary to do long term math like that. You just have to buckle up and get ready for the ride and just jump into PoF. You can't make money on the sideline
POF is very useful for making money when you're getting started. $200-400 profit / day is not too difficult once you get the hang of it. The minimum bid on POF isn't .40, that's just what the recommended bid is. The minimum bid is .10, or .20 if you are using login count / session depth. I recommend you take your current campaigns, apply < 50 login count, and see if that helps.
Couple of things - First you dont need to Bid .60 . Find out what you need to bid to get impressions, also look into INTL markets . 2nd 5 % CR is nothing to brag about . You really need to test and see what numbers you get and tweak from there . Example is you get .50 CPM with same CTR and 10 % CR - you will have a 40 % ROI .
First of all, you're thinking way too much. Make some ads, set them up, and adapt as necessary. Always test. Rotate in new ad images, headlines, and body text. Rotate between different offers. Test landing pages vs. direct linking. There are lots of variables to work with.
(This next part is going to sound self-serving, so I apologize in advance if anyone thinks I'm just promoting my blog. I'm honestly just too lazy to retype a lot of the info I've posted there this week.)
Here's some things I've posted about recently that relate to PoF and might give you a hand getting started-
Gathering images the easy way: http://z6evolved.com/making-pof-fb-a...-the-easy-way/
More effective tracking: http://z6evolved.com/a-quick-plenty-of-fish-trick/
Why you should edit your images: http://z6evolved.com/social-ad-image...-study-part-1/ and http://z6evolved.com/social-ad-image...-study-part-2/
Some information on writing headlines for your ads: http://z6evolved.com/whats-in-a-headline/
The thing to keep in mind is that you can't set something up and ignore it. Your campaigns need to be constantly renewed with new images, ad copy, headlines, etc. Keep testing until you think your head will explode and then test some more. Since PoF has a smaller userbase than some other social sites, you get a lot of people seeing your ads over and over. You need to adjust targeting to reduce this as well as provide fresh ads to keep them from getting banner blindness or becoming sick of your offers.
For targeting, when you start it's good to work in a demographic that's easier to convert to - I suggest targeting login count < 50, session depth < 20 (for men) or < 30 (for women), browser type unequal to iphone or android (to avoid mobile visitors that probably won't convert on your offer), and ads clicked = 5-19. This is usually where I start my testing in a new demographic or with a new offer since this is really your optimal user. They're new to the site, haven't been logged in for too long, and have already clicked on a handful of ads. This stacks the odds in your favor of getting them to click your ad if it's any good.
Collect a ton of images. Gather all the images you think you'll need, and then gather more. Edit them in some fashion - add borders, colored backgrounds, whatever you think will help. Then upload them in a small, manageable group (if its a small demographic, go for 10 images per ad copy at a time, so you don't have to wait that long to get enough impressions to make a decision on each image.) Target small age groups - 25-29, 30-34, 35-39, etc. Once you run enough traffic to figure out which images are winners and which ad copies are making money, you can disable the rest and bring in more images and more ad text. Once you have a handful of winning ad texts and images you can start testing landing pages if you want. The nice thing about using landers is that it lets you target people in the ad that the offer lp doesn't necessarily address, and then tie the two together with the landing page.
For example:
Your ad tells the user that he can find women who love backpacking through europe. Your offer page obviously isn't "dating for women who love backpacking in europe" but it's general enough. So you make a lander talking about how there is a large group of women on whateverdatingsite.com that love backpacking in europe. If you work it right, it seems natural enough to make sense to most visitors.
Naturally you don't want to make up outright lies about what the dating site can accomplish but it's not impossible to assume that a large enough dating site will have women on it that like backpacking in europe, right?
Beyond this, you just need to keep your chin up and try not to get flustered. Don't pause campaigns if they spend $5 and don't make anything. Some of my campaigns will spend their whole budget without making a dollar one day, and the next day I've already made twice my daily budget before I've spent a buck. It can fluctuate wildly in some demographics. Make sure you're using good tracking so you can keep an eye on what days and what hours the offers do best at. This way after some testing, when you have a good number of winning ads and images, you can pause your campaigns in the "off" hours and start them up when they're more likely to be profitable. Day parting is a great way to maximize your budget.
Also, try to use the PoF conversion tracking - once you have enough conversions you can really see who is making you all that money, and change your targeting to only show ads to those people. That will really help you get your campaign from slightly in the red/breaking even, to making a profit.
Good luck and I hope some of this was helpful. If it was useless and I was just ranting, I apologize in advance. I was in a hurry to get out the door when I typed this up. You should consider posting a follow along campaign so that we can give you feedback and critique your ads. That would probably also help you skip a lot of the blind testing most people start with.
z6, I have to say...another quality post by you. Because of it, I'll start my own follow along POF campaign. I've always been afraid of putting my campaigns out there in the open, but I don't care now haha. I need to break away from my broad campaigns that really only make money cause my CPM is so low haha.
And shardul, yes, there is monies to be made on POF. Sure, it's not a set-and-forget traffic source, but it's pretty easy to pick up the basics of affiliate marketing through it.
z6 is a fuckin legend in the game. jesus.
We've been rockin out POF internally here at EWA for a bit now, we gave our members a HUGE guide on how to promote there.
Damn Rob, you know I respect the hierarchy. I'm just happy to be on the totem.
When I start buying gold plated jet packs, that's when you need to worry. :P