When it comes to digital marketing, understanding and effectively utilizing the marketing funnel can have a significant impact on the success of your campaigns. The marketing funnel consists of three key stages: awareness, consideration, and purchase. By strategically incorporating this funnel into your ad campaigns, you can optimize your efforts, reduce costs, and drive more conversions.
Recent test results have revealed an innovative approach to leveraging the marketing funnel for improved ad performance. By implementing different lead generation strategies, marketers can experiment with various goals to gauge user preferences and behaviors. This allows you to identify cost-effective methods to encourage purchasing decisions.
In a specific case study, two distinct ads were created: one aimed at guiding users to the checkout stage and another focused on driving direct purchases. Surprisingly, the cost per click (CPC) for the checkout-focused ad was significantly lower than that of the purchase-focused ad. The CPC for the checkout ad was only $2.66, while the purchase ad commanded a higher CPC of $6.99, almost twice the cost.
This discrepancy in CPCs presents an opportunity for marketers to devise strategies and maximize ad performance. By initially using the checkout-focused ad to generate leads, marketers can retarget this audience with a subsequent ad designed to encourage purchases. Taking advantage of the lower CPC at the checkout stage allows for more conversions at a reduced cost per click.
Adopting this approach provides valuable insights into consumer preferences and behaviors. Analyzing the success of different lead generation methods, such as page views and adding items to the cart, helps marketers gain a deeper understanding of what resonates with potential clients. Armed with this knowledge, they can optimize their ad campaigns to align with user preferences and drive successful conversions.
SO, WHERE DO YOU FIND THIS PARTNER?
Well, aren’t we glad you asked! We at DigiCom are obsessive data-driven marketers pulling from multi-disciplinary strategies to unlock scale. We buy media across all platforms and placements and provide creative solutions alongside content creation, and conversion rate optimizations. We pride ourselves on your successes and will stop at nothing to help you grow.
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