If you like this series let me know in the comments so I know to keep going!
|Campaigns Launched So Far||70/100|
Since the previous update, an additional $41.54 was
blown spent on Bing & $222.06 was blown spent on Google.
And not a single sale from it. Ouch!
Looking back I could have saved 80% of those costs by avoiding a bunch of mistakes but I guess you don't know this information till you put your money in and make those mistakes.
The other day I came across this case study from RingPartner on how an affiliate found and optimised a campaign.
He recommended bidding 1/4 of the payout. This initially didn't make sense to me because I like bidding in first position no matter how much it costs. Maybe it's a PPV thing.
The problem with Google Search traffic for Pay Per Call offers with bidding in first position is that you're going to end up spending a lot of money to test. Especially when you don't know what you're doing like me.
So instead of spending $50 and only getting a hand full of clicks at $5-$6 per click, I'm bidding much lower, (in 4th - 8th positions), and only paying $1.50 for clicks!
This way, I can generate a lot more traffic and have more stats to analyze.
I also spent a lot of money on stupid keywords because I avoided putting in negative keywords. Over time, I realized what keywords to add to the negative keyword list and am now getting the keywords I want.
I've also realised that if you can maintain a good CTR then Google will start ranking you higher and charging you less. I was paying $5.50 when I first started. Now, I'm paying less than half that and in some cases, still maintaining the same position rank!
It's taken a lot of money to learn this, ($400 on Search), which is actually normal for me to spend and learn from.
I get $3,000 - $4,000 from this blog and if I'm not using it to learn how to master traffic sources than I'm wasting it.
Sure, I can save it and build my bank account but I'll learn nothing.
I'd rather make these small time investments and learn the ins and outs of traffic sources so that one day, the knowledge will come together to make me millions, (hopefully). I can easily afford to spend $1,000 - $2,000 testing per month and the more I spend, the more it seems I learn.
I've launched at least 20-30 campaigns/angles since the last update but not many of them bought in results due to low traffic so I haven't counted them all.
I'm starting to figure out the difference between buyer keywords and browser keywords. For example, if I'm promoting a dental offer than I don't want general keywords like,
- Cheap Dentures
- Dentist Reviews
Instead, I want to dig real deep and layer my keywords. If you've followed my Teespring Tutorials than you would know how important layering is.
Nowadays, I'm bidding on things like,
- Best Dentist Near Me
- Affordable Sedation Dentist in Georgia
- Gentle Dentist For Seniors
Notice the layering? (service + geo location + demographic)
I'll probably have around 500+ ad group combinations with this type of layering but my click costs will be real cheap not to mention ad/keyword quality score.
I'll get a few clicks from each ad group and filter out all the ones that aren't making me money. It's a very long process but if you can find a good scaleable campaign then it can bring you in money for years!
I've only scratched the surface with Pay Per Call. There are another 100 or so offers to test and I've only tested 2.
I'm also testing some Bing -> Clickbank Campaigns. The costs there are just so cheap! Some really valuable keywords are around 10-30 cents and if I can find a good converting clickbank product then I should be able to make some money.
All in due time. We're currently in test mode so let's just take things slow and learn from our spend.
I'm thinking of continuing this challenge throughout the whole year. Let me know in the comments section if you'd like this. Let's see how much I spend before I find a winner and how many campaigns I launch.
It's a great way for everyone to see the realities of the business and how much effort you have to put in to find a profitable campaign.
I always said it was a tough business. I hope, by now you can see what I mean.
A business that can earn you millions can't be made possible without investing a lot of time, money and effort.
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