Are you wondering how much a Google remarketing campaign costs? In this article we explore the costs of remarketing, and how you can design a better budget your campaign to generate the ultimate return.
Remarketing Cost Models In A Nutshell
Remarketing ads, unlike traditional search PPC, can be done based on either a CPM or CPC method. This means that you can pay in Cost Per Thousand Impressions, or Cost Per Click. Both of these models have their advantages, so let’s dive deeper into each one to explore what those advantages are.
CPM – Cost Per Thousand
This model will allow you to pay for the exposure rather than the click intent. In most cases, you’ll want to pick a different method, because what you really want is traffic – and clicks tend to be a better measure of that. However, if what you’re really after is exposure, and the cost for traffic is really high (or too high for the exposure you want) you could move towards this model. Overall, CPM might be cheaper than CPC, but it’s hard to gauge the results you might get in the long run – and it’s certainly more difficult to determine a clear ROI.
CPC – Cost Per Click
This is more of the standard cost model. Basically, CPC requires that you pay for each click your ad gets during its run time. This allows you to optimize for the click cost and conversion ratio, not on the number of exposures your ad has. Cost per click is typically the method most of our clients would use in high-dollar purchases, so we’ll use this for the remainder of the article when it comes to pricing.
If you are in doubt, select cost per click for your remarketing campaign. If you don’t know which way to go, you can’t go wrong paying for clicks because of the direct feedback you can get with conversion metrics.
Optimizing Remarketing Costs for Conversion
The second step, once you’ve chosen a method of cost, is to run your ads with the objective of optimizing costs. The goal of any remarketing campaign is to drive traffic back to your site, with the goal of converting that traffic into a lead. So, with that knowledge, you can optimize your ads and pricing to achieve the desired (and hopefully ideal) cost per lead measure for your campaign.
Optimize Your Ads
Make sure that you are running and testing at least three ads at a time, in various sizes, so that you can best understand what message is driving customers back to your site. Copy testing is the best way to optimize your ads. Start with testing copy, then imagery. Follow some best practices, but then get creative with your ads and ad copy.
Optimize Your Pricing
You can also optimize some of your cost settings so that you can best market your product at the right times and locations. Be sure you are geo-targeting your ads, so that people outside of your buying area are not seeing your ads. Additionally, check the times of day for your most valuable clicks and consider not running ads during those times. Not all clicks are good clicks. Keeping your ads out of the wrong hands might save you 15% on your overall spend.
Need Some Help With Your Remarketing Campaigns?
Ready to get started? Well, even if you feel a little overwhelmed, you’ll get the hang of it. And if you decide that running the campaign yourself is not the best use of your time, New North can help you run your remarketing campaigns with ease and efficiency, to make the most out of your budget. Contact us today for a free consultation.