Digital marketing is a great way to reach a lot of people quickly and easily. However, sometimes things go wrong and you don't know where to turn. In this blog post, we will provide performance benchmarks and tactical solutions to two common digital marketing problems: increasing CPC and lower lead magnet conversions.
Issue Number 1: CPC (Cost-per-Click) is increasing
Protect your ad spend and get back on track quickly! When you pay for advertising, you know this can be frustrating because you don't always know the cause of an increase in costs. An increase of only a few percent may be due to seasonality or current events.
Tactical tips
Swap out your CTA (Call-to-Action) to see if that lowers your costs and improves your return on ad spend (ROAS). If you don't see results, work on your creative approach by updating the opening sequence of your video or by swapping out the music for something new.
Why is it important to reduce CPC?
A higher CPC means that you are paying more for each click on your ad. This can quickly eat into your ad spend budget, and you may not be getting the results you want.
What is a good benchmark for CPC?
A good CPC benchmark is 0.41-0.67 GBP (in July 2022). If your CPC is above this range, you may want to consider ways to lower it.
What are some solutions to reduce CPC?
Some solutions to reduce CPC include:
-Creating a more targeted audience
-Testing a new call-to-action (CTA)
-Testing different ad copy
-Testing different images
Issue number 2: Lead magnet conversions are down
If you're finding that lead magnet conversions are down, there could be a few reasons why. If you try these tips and are still struggling, you might need a new campaign - we recommend a marketing strategy that includes a quarterly campaign refresh to help prevent these performance dips.
What is a lead magnet?
A lead magnet is an opt-in offer that entices people to sign up for your email list. It can be anything from a free e-book to a discount code.
What is a good benchmark for lead magnet conversions?
A good benchmark for lead magnet conversions is 50-70%. If your conversion rate is below this, there are a few things you can do to improve it.
Test first!
Always test your lead magnet is functioning first as sometimes the workflows and connections between systems can require a refresh.
Tactical tips to increase lead magnet conversion rates
Some solutions to increase lead magnet conversion rates include:
-Split test another call-to-action
-Making your offer more appealing
-Making the sign-up process easier
-Improving the quality of your lead magnet
-Offering a lead magnet that is relevant to your target audience
We hope these performance benchmarks and solutions help you boost your digital marketing. Treat is your digital marketing agency in Torbay! If you need help with your digital marketing, please give us a call on 07513 472371 or email hello@treattorbay.co.uk. We're happy to carry out research, testing, and help you with any creative work - graphics, video, photo and drone. Thank you for reading!