Question for you guys, over the last month I've gotten myself acquainted to testing various aspects of a campaign - angle, creative, lander, offer, etc. One thing that I haven't tested would be CPM bid. I've always left it at .73 because that's what the intro guide suggested for newbies. But I figure that changing it could potentially make a HUGE difference, especially when coupled with login count targeting. I know the answer to most questions in Affiliate Marketing is, "test it", but are there any strategies you guys use when switching up your bids and login count targeting?
People generally bid higher for lower login count as the traffic is fresher, there is less banner blindness, and thus higher ctr. So as the login count goes up you can lower your bid incrementally. Maynzie has a post on this.
Within a login count/range, I like to start high to get as much traffic as possible, and then see how low I can go without losing volume.
Some things that effect this: angle and creative.
Are you using the same old angle, or even worse have you just ripped images from the spy tool? Some of these images are beaten to death.
If you are using a really awesome different angle/offer, login count does not matter as much IMO.
For example: I had over 700% ROI the other day in POF. I did not separate by login count, but I was doing something a little different to everyone else on there.
wow 700% ROI on POF thats nice
I tend to do a lot of rapid tests to establish the relationship between volume and bid. I'll normally start by pushing the bid up to $5 - yes, $5 - for about 15 minutes to get an idea of the maximum available volume for that particular range of targeting. Then I drop down the bid in 15 minute segments, and get a feel for where the volume starts dropping massively.
After that, it's just a case of finding the sweet spot between bid cost and volume.
It's worth noting that Tom Fang did a study a while ago which showed that POF bid and CVR tend to increase proportionate to each other, so if you've got a campaign that's profitable at $0.50 bid, it'll often still be profitable at $1 bid or so. The relationship's pretty complex because higher bids on POF get higher quality traffic.
DEFINITELY test new bids.
I would duplicate the campaign a few times and track each one, only unique thing for each campaign should be different bids. Test $1.50, test $0.15, and a few more in between.
Ok thanks guys. I will test this. I never realized testing bids by the 15 minute mark that's a great idea. I will implement this into my strategy. So with a higher bid and low login count I should expect a higher ad CTR rate I'm guessing? I have a campaign running at .30 CPM which has an overall ad CTR of .23%.. That's not so bad considering the bid..?