The festive season brings with it a world of opportunities for businesses to shine. As consumers open their wallets wider, it’s a golden chance to drive up sales and enhance brand recognition. However, the festive season comes with its share of challenges, and one major obstacle is the surge in CPMs high CPM keywords.
CPM, short for ‘cost per mille,’ signifies the cost incurred per 1,000 impressions in a campaign. As we step into the current season, the demand for advertising space skyrockets, causing a significant increase in CPMs. This sudden surge can pose challenges in ensuring your ads reach your target audience and might impact your overall return on investment (ROI).
So, how can you navigate the landscape of elevated CPMs and playback based CPM during the festive season and still come out on top? Here are some of the leading strategies that should be considered:
Kickstart Early Planning:
Begin your festive season planning well in advance. The more lead time you give yourself, the more room you have to refine your targeting and bidding strategies. So performance marketing companies in India, listen closely because this approach can optimize your budget utilization and ensures your ads gain visibility among the right demographic.
Limit the number of Ad sets you create:
Strategic ad set management is crucial, particularly in the context of CPM. Overloading with ad sets can trigger in-house competition, causing CPM costs to soar. Research shows that ad sets with over 50 weekly events achieved a remarkable 28% lower cost per purchase. By thoughtfully curating and optimizing fewer ad sets, you can sustain cost efficiency, allocating your budget wisely to maximize return on investment.
Look for additional consolidation opportunities:
It’s essential to be vigilant and seek additional consolidation opportunities, especially when dealing with high CPM keywords. By identifying overlapping keywords and grouping them strategically, you can optimize your campaign’s efficiency and reduce overall CPM expenses. This approach ensures that your budget is channeled towards more cost-effective strategies, improving the performance and profitability of your advertising efforts
Optimize for events with sufficient volume :
When it comes to CPM optimization, it’s essential to focus on events with sufficient volume, ideally targeting a minimum of 50 conversions per week. By concentrating your efforts on these high-impact events, you can enhance campaign performance and reduce CPM costs. This strategy ensures that your advertising budget is efficiently allocated to drive meaningful results, ultimately maximizing your ROI.
Group significant events together to avoid restarting the learning phase:
In CPM-driven strategies, grouping significant events is an appropriate method to prevent the disruption of the learning phase. When you consolidate related events, your campaign remains optimized, avoiding the costly process of starting over. This approach maintains cost-efficiency, ensuring your ad budget continually benefits from accumulated data and insights, resulting in improved campaign performance and reduced CPM expenses.
Monitor and Analyze Results:
A crucial step involves tracking the outcomes of your festive season advertising efforts. This practice provides insights into what’s performing optimally and where improvements are needed. You can fine-tune your strategies and unlock your budget’s full potential with these insights in hand.
Now, let’s dive into the realm of performance marketing agencies in India and unveil some compelling facts and figures to illuminate the scale of this challenge:
A study conducted by AdRoll underscores the significance of the issue, revealing that CPMs can skyrocket by a staggering 50% during the festive season. The average CPM for a display ad during this period hovers around 2100-4000 rupees, highlighting the impact that elevated CPMs can have on businesses looking to capitalize on festive spending trends.
The critical insight arises when considering the connection between tracking outcomes and ROI. Companies that diligently monitor the results of their festive season advertising endeavors tend to have a higher likelihood of achieving a favorable return on their investment. This underscores the importance of making data-driven decisions to achieve tangible results in your performance marketing services campaigns