Top 5 Secrets to Bring Your CPL Lower
Cost per lead (CPL) is an efficient metric that stands for the amount of money that a marketer spends to get to a new lead base, showing the marketing team’s ability to deliver targeted ads of high quality to drive tangible outcomes for your company. Once you start keeping your CPL low, your ROI will boost while you keep getting valuable leads.
If you’re struggling with bringing your CPL lower, these 5 secrets will help you out!
Take the inbound approach to paid: Most markets want people to click on an ad and convert on a form near the bottom of the funnel like for a consultation or demo to reduce the time spent on moving their potential leads through the funnel. Yet, the inbound approach believes that to play on the possibility of more lead conversion, different types of content need to place different forms of content at different stages of the funnel. You might get the most valuable leads by promoting offers at the top of the funnel. If the inbound nurture engine is set up correctly, leads will surely convert no matter where you hook them in the funnel.
Enhance relevance and quality of the ads: Ensure that your landing page is optimised and ready for conversion of leads like providing interesting offers that leads can grasp easily. Incorporate long-tailed keywords that are highly targeted and relevant to what your potential leads are looking for. Single keyword ad groups can help your business attain better performing ads by targeting one particular keyword per ad group. As it enhances Google’s rating of relevance and quality for your ads, your CPC will decrease. So, if you get more traffic that is interested in your content with less money, your CPL is bound to go down.
Spend on targeted audience by categorising them according to their behaviour: Google helps you target an audience that has similar interests to what your company offers as they’ll be more likely to click and convert on your offers than an audience who does not take interest in your niche. You can also retarget those who have previously visited your site and convert them. Try to group your audience according to their behaviour to take your strategy to the next step like:
- Audience who have visited the bottom of the funnel in your landing pages or visited high-intent pages.
- Audience visiting the high-traffic pages like blog page or homepage but have neutral intent.
- Audience visiting high negative intent pages, for example page for email unsubscription.
This strategy helps you to avoid money wastage on an audience who wouldn’t convert at all.
Don’t waste on low-performing keywords: Keep surfing through the different keywords you’re spending your money on to evaluate their performance. Optimise the ones that drive conversions and eliminate those that don’t. You might be skeptical to remove keywords that get a lot of clicks but don’t convert, but they serve no purpose. Instead, use long-tailed targeted keywords that may get lesser clicks and high conversion rate i.e., those who click on the ad convert easily.
Perform A/B tests to optimize your ad performance over time: Run two ads together to perform the A/B test and compare and analyse the results from both. Use only one ad as a variable and the other as the control. Serve them an equal number of times and rotate them indefinitely. Change one aspect at a time to evaluate what works for your audience. To reduce CPL, choose the ad that converts after a click rather than the one with high click rate but no conversion.
Keeping your CPL low can keep your cost per acquisition low too. Hence, always work to lessen your money and time you spend on converting leads without compromising on their quality.