Many companies believe that broadening their advertising coverage will lead to an increase in revenue. However, this often leads to poor quality of leads and high costs. Our agency fell into this trap a year ago and, as a result, received very few qualified contacts at a much higher cost than usual.
We shifted our focus to quality and ran more structured ad campaigns. This resulted in a reduction of advertising costs by 38% and an increase in conversions into appointments by 16%, more than five times the industry average. We also managed to close four times more deals since June and achieved a 15% average month-to-month growth of new deals from pay-per-click (PPC) ads.
To achieve such impressive results, we implemented seven strategic ad optimization steps. Firstly, we took advantage of seasonality, leaving more budget at the end of the month and analyzing keywords from organic search. We also created separate landing pages for each advertising campaign, monitored ad performance, used only business emails in all forms, and captured leads with specific lead magnets for each social network.
In terms of technical setup tips, we minded multiple devices, monitored cost-per-acquisition (CPA) by day and geographic location, reviewed, updated and grouped keywords, optimized ad groups by conversion rate, and regularly ran experiments.
Finally, we emphasised the importance of a comprehensive approach to improving conversion rate and cost-per-click (CPC), paying attention to conversion rate instead of just CPC and avoiding sacrificing our ability to acquire new customers when mastering paid ads.
Overall, by applying strategic and technical approaches to running ads, you can maximize your advertising return on investment (ROI) and boost qualified leads while reducing costs.
Originally reported by Martech: https://martech.org/paid-advertising-tips-to-boost-qualified-leads-and-reduce-costs/
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