Read Aloud the Text Content

This audio was created by Woord's Text to Speech service by content creators from all around the world.

Text Content or SSML code:

Welcome to incognito money podcast Why You Need at Least 8 Conversions for Target CPA If you’re not familiar with the concept of target CPA, it means setting an average daily amount that you want to spend on AdWords per click (CPC). It doesn’t matter how much the CPCs cost; it only matters how many conversions cost that amount or less. For example, if your target CPA is $20, and you get 10 conversions that cost $19 or less and no conversions that cost more than $20, then your campaign would reach target CPA. Why use ad spend as a goal How many conversions are needed for target CPA? Ideally, you should have at least 30 conversions, if not 50, in the past 30 days before testing tCPA bidding. If your campaigns don't reach this level individually, use Ad Spend as a goal. Try using CPC bidding until you reach these levels and convert to tCPA when ready. Why use conversion rate as a goal We suggest taking a page from Google’s AdWords playbook and setting goals in conversion rate instead of cost per acquisition (CPA). Let me explain. Conversion rate (CR) is calculated by dividing your total conversions by your total number of clicks. Ideally, you should have at least 30 conversions, if not 50, in the past 30 days before testing tCPA bidding. If your campaigns don't reach this level individually, consider running them together. Setting up Conversion Tracking After you’ve set up conversion tracking, you can see which of your campaigns are performing well. If a specific campaign has had fewer than 30 conversions over a thirty-day period, it might be best to avoid using target CPA bidding on that particular campaign until it gets more traffic. For example, let’s say you have two search campaigns in your AdWords account: Campaign A and Campaign B. Step 1 - Set Up Conversion Tracking To begin, you must set up conversion tracking in AdWords by creating one or more conversion paths. (You can set up as many as you want.) Conversion paths are ways to track conversions that occur beyond just clicking on your ad. A click-to-call number, a form submission and adding a product to a shopping cart are examples of conversion paths. Step 2 - Isolate Google Analytics Conversions from Other Sources To ensure you’re looking at data from Google AdWords campaigns only, click on one of your conversions in Google Analytics and then select Acquisition in Google Analytics. If you’re not sure how to find your conversions, check out our Guide to Finding GA Data. Once you have clicked on Acquisition, go to Sources/Mediums and remove everything but AdWords. Step 3 - Set Your Bidding Strategy Three Ways to Set Your CPA Bidding Strategy in Google AdWords: What’s right for you? How many conversions are needed for target CPA? Ideally, you should have at least 30 conversions, if not 50, in the past 30 days before testing tCPA bidding. If your campaigns don't reach this level individually, create a single campaign with multiple ad groups and set different target CPA bids. As long as your total number of conversions is greater than 30 over that same time period, it will be worth testing. Otherwise, stick with targeting CPC or CPV. Step 4 - Test New Conversions The magic number of conversions per day, in order to see a steady flow of new leads into your business each month, is about 2-3. If you don’t have that many daily leads in your funnel on a consistent basis, you’re doing something wrong. So how do you fix it? Well first, set up conversion tracking and optimize your pages so that more people enter your funnel. Staying on Track Even When Things Get Tough Even though it’s easy to get discouraged when you’re in a losing streak, you shouldn’t take your foot off of the gas. Instead, give yourself permission to stay focused on your goals as long as possible, even if things don’t go your way right away.