Lead generation is very important because it enables businesses website to create enormous traffic and this leads to more sales and higher conversion rates. In Google Ads, Cost Per Lead (CPL) is a primary metric to calculate and optimize for better results. But, we generally end up high CPL to get the quality leads. What is the problem and how to solve it? Here we are going to tell you a few strategies on how to reduce Cost Per Lead (CPL) and generating quality leads.
When you run a digital marketing campaign, you need to monitor key metrics, including cost per lead (CPL) in order to maximize profits reduce the cost of obtaining new leads. Let’s understand what is CPL.
Cost Per Lead (CPL)
CPL is the budget you spend to obtain new leads. This model helps to build a more effective relationship with the potential customer and can create leads with plenty of long-term value.
Formula of CPL= Cost for your advertising campaign/ total attributed leads to get CPL |
How To Reduce Cost Per Lead Tips |
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1. Target Audience
PPC campaigns rely on dedicated monetization. If you find that your advertising campaign isn’t attracting as many leads as you wish. Also, end up at high CPL then do narrow targetting.
It happens sometimes when your large targeted audience does not drive better results. In this case, go with narrow targeting for your ad campaign.
2. Remarketing
Remarketing gives the chance to reach out to customers who have previously visited your website or mobile app by viewing the ads. A remarketed ad can help to convert that visited audience into a customer.
Below are the following benefits of remarketing:
- Well-timed targeting
- Focused advertising
- Large-scale reach
- Efficient pricing
3. Content Relevancy
Why we need strategist or expert copy/content writer? because they write exactly that piece of content to attract an audience. In the same way, Ad copy and content also plays a crucial role in earning conversions.
4. Strategy for Keywords Match
There are 4 types of keyword match. Choose it carefully and the more specific you can be in terms of selecting keywords and predicting potential search queries, the more likely you are to reach a relevant audience. Here is the guide on keyword match.
What Are Keyword Match Types?
Keyword match types are the parameters that control which search terms trigger your ads to appear on a search engine results page (SERP).
There are 4 types of keyword match:
- Broad match
- Modified broad match
- Phrase match
- Exact match
READ MORE: List of best PPC Tools Every Digital Marketer Should use
5. Add negatives Keyword
Conduct a negative keyword audit to drive qualified traffic and eliminate unqualified traffic. Integrating negative keywords can result in positive growth for your PPC ad revenue.
Adding negative keywords help in:
- Eliminate the potential for irrelevant searches.
- Increase click through.
- Reduce your overall costs by eliminating keywords that are costing much.
6. Overall Quality and Ad Relevancy
Obviously, people like items in which they are interested. Similarly, if we show our ads to people who are not actually interested in, then your CPL will end up decreasing.
To make the Quality and relevant ad, optimize your landing page for conversions. It needs to have clear content that can be understood in five seconds or less.
Targeting: Choose highly targeted, long-tail keywords that are more effective. These keywords show the right result to the right audience.
Targeting done in many ways few of them are:
By similar interests- People who search for product, retarget people who’ve already visited your site, and group audience based on their behaviour.
In addition to targeting, perform A/B tests to optimize your ad performance over time. To do so make at least two ads running at once so you can perform A/B tests.
7. Use Ad Extensions
Ad extensions are an important way to improve your Search Engine Marketing (SEM) campaign. It gives a higher click-through rate and reduces cost per lead. Here is the guide to Understand the benefits of ad extensions in Google Ads. It also improves the Ad Rank.
Google Ads offers a variety of extensions. Below is the list of seven types of ad extensions:
- App Extensions
- Call Extensions
- Location Extensions
- Review Extensions
- Sitelink Extensions
- Callout Extensions
- Structured Snippets
In Conclusion
Reduce Cost Per Lead must be a daunting task for you. But, these are things one should keep in mind when it comes to reducing your cost per lead in Google Ads and will make your work easier.
READ MORE: Insight-driven Marketing for Pay Per Click campaign (PPC)
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