Cracking The Bing Code - PPC To Own Product (16)
Hey guys I'm new to the forum and have benefited tremendously from the advice of fellow STM members.
After struggling to comprehend conversion tracking I decided to track my opt-ins using Bing's conversion pixel and JVZOO's sale tracking system.
I've spent approx. $80 so far.
The first $60 was spent sending traffic to a broken link 
After crying in a dark room I decided to put that behind me and carry on 
I've got some numbers but don't really know what to make of them, so I was hoping y'all would have some feedback for me.
Should I raise the bid on keywords that cost me very little per opt-in? And also are these numbers statistically significant?
Please keep in mind that only $20 contributed to the opt-ins.
Below are the screenshots of my numbers - CTR arranged in descending order.
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2
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5
Thanks in advance!
P.S. Daily budget is $20
Looks good, but no, you're not at statistical significance on anything yet, really. I'd give it a few more days' spend.
Post again when you've got a bit more data and we shall all leap in to assist!
This is a bit hard to read. In any case, you should not really worry too much about CTR, especially on a low volume traffic, relatively higher cost traffic source like Bing (and especially even more so considering your low daily budget). Instead, the metric you need to focus on is the price per conversion and whether you can get this to be lower than your payout per conversion.
Thanks for your reply Caurmen I'll give it two more days before posting again
Thanks for your input cmdeal. So does that mean I should focus primarily on my squeeze page instead of my ads and keywords?
Originally Posted by naidybiz
So does that mean I should focus primarily on my squeeze page instead of my ads and keywords?At the end of the day, what matters is your CPA vs your conversion value.
In other words, how much do you need to spend on a specific ad/keyword to get a conversion vs. how much $ you get for that conversion. A low CTR ad can still be profitable!
What is your conversion value? This is your own product but I presume you have some purchase, overhead and upsells, etc. A ballpark figure is fine.
For now, I would collect more data and see how these keywords fair. You have a lot of scope for playing with ads, bids and landers but it would be better to first get a precis of the potential of this campaign or angle.
P.S. The forum is being stubborn about images, it's generally more effective to upload images to e.g. imgur and then embed them here so they don't get resized.
Thanks for pointing that out Zeno, I'll upload them to postimg next time.
My conversion rates for my f/e product and 2 OTOs are 9% ($7), 19%($17) and 9%($37) respectively.
These figures were derived from sending affiliate and forum traffic though, not sure how well it'll convert with PPC.
But before they even get to the sales pages, they'll have to opt in to my list.
So I guess that means I have to lower my CPA substantially in order to get a positive ROI.
I'll post the numbers here tomorrow when I have more stats to show
I have to ask - why are you using JVZoo for tracking?
I don't know much about it specifically, but I know it's the
system of choice for WSO sellers and basically nobody else.
Is it simply because you're selling the product through JVZoo?
Originally Posted by the_writer
I use JVZOO because I can't get CPVLab to work, so I used the Bing conversion pixel to track the opt in rates and converting keywords,
and I calculate the conversion rate of the products using JVZOO.
Hi everyone I'm back with some stats, beginning to burn a little bit of money, getting a little bit uncomfortable haha... Hope to turn a postive ROI soon
I'd appreciate advice on how to proceed from now on.
OK, so I'm assuming here that a conversion means that you get a $9 payout, as you mentioned on the previous page. Is that correct?
If so, you've definitely spent enough here to get some initial data, and it's looking very promising!
Do I have the right end of the stick here in terms of your payout and conversions?
This is why focusing on your price per conversion or--as in your spreadsheet--CPA is much much more important for you at this stage than focusing on your CTR.
Several of your high CTR campaigns (CTR over 0.6%) are actually losing you money, whereas many of your low CTR campaigns (CTR under 0.6%) are extremely profitable.
With this data at hand, you can now identify and focus on the problems you need to solve.
2. On the unprofitable campaigns: How can I get these to profitability?
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For each of these problems, now start breaking them down into smaller, mutually exclusive, but collectively exhaustive (MECE) components.
The best was to to this is by creating an issue tree.
I have embedded an example below on how someone can take a structured approach to problem solving by creating an issue tree:
In fact, I would really encourage you to try to make an issue tree for both the two problems that you now need to solve and then post the issue tree on this forum for feedback.
Doing this will be excellent training for you on how to approach problems in a disciplined manner, and I am sure it will be illuminating to many other forum members as well.
It will be VERY hard work at first, but with a lot of practice, it will become second nature to you.
And if you can become a good problem solver, you will quickly pull ahead of at least 99% of all people who try affiliate marketing (or quite frankly, any job or career).
Caurmen, conversions in this case means opt-ins only. After they opt-in, they'll be redirected to a sales page which is priced at $7. I don't know why I'm getting such low conversion rates. I'm getting anywhere from 45%-55% opt in rates with solo ads but here it's less than 10%.
Wow cmdeal thanks for the tip, a little overwhelming but I'll take it a step at a time. My conversions are terrible at the moment so I guess I should work everything out first before burning more cash. So if I understand correctly, I should replace the words that are highlighted with words that are relevant to my PPC campaign? I'm a week away from my product launch, that should make me a couple grand to invest in PPC In the meanwhile I'll do the issue tree,thanks again.
@naidybiz - Aha, that's what I wondered.
The lower opt-in rates are fairly normal as you move to new traffic sources - every traffic source performs differently, often dramatically so.
What's the value to you of an opt-in? I'm guessing around $1.
At this point, the things I'd recommend (besides going through cmdeal's process, which is definitely a good idea) are:
- If you can't track conversions on your sales page against the keyword they came from, prioritise getting that functionality into your system.
- Pause any keyword that has spent more than 4x the value of an opt-in for you without a conversion, and that has had more than 10 clicks. Whilst you might eventually be able to optimise them, it's better to target more initially promising keywords for now.
- Run multiple opt-in landing pages in a split-test and compare results. See Part 11 of the Getting Started Guide.
- Test multiple ads on each keyword if you're not doing them already. See Part 10 of the Getting Started Guide for that, but set a very low target ROI initially whilst you're still optimising.
You've got a solid basis for optimisation here, but because you control your own funnel and it's moderately complex, there are a lot of moving parts to optimise. Make sure you're spending wisely to test and find things that work, and you'll get there!
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