Hi all,
As I've worked through a system, I'm starting to identify errors or weaknesses in my campaigns and strategies. I've found a big one that I seem to struggle with. Spending too much or too little on a conversion funnel/angle.
Specifically Banners and Landers. I've read Stackman's guide to statistical significance, which is great, but I still have a few questions.
I'm wondering if anyone could put a couple of "loose" scenarios together as an example?
IE. Scenario 1
Offer Pays $4.00
2 landers
10 banners
To be more specific, how much would you spend per Banner, Lander, and Offer combination?
- or -
Do you spend X on banners, Y on landers and ignore the specifics of each conversion funnel?
Thanks in advance!
I first spend altest 10-20x the payout of offer direct to offer.
Then if offer converts. Then i split test different landing pages/banners to imporve specific thing like CVR/CTR/EPC.
This is a very traffic source dependent question. Specifically, whether you're targeting mobile or web will make a huge difference. You'll need to spend a significantly higher multiple of the payout per campaign on mobile compared to web, because there are a lot more variables to take into account.
It also depends on the performance of the campaign out of the gate. On web, for example, if this is a single-angle campaign, I'd probably kill it after 4x - 5x offer payout if I'd not seen a conversion. However, as soon as you see a conversion, it becomes much more of a judgement call when to kill the campaign, based on how much more optimisation is possible.