So you’ve decided to get started with pay-per-call, but you’re new, and building a campaign comes with a lot of questions. A common query from new advertisers often has to do with setting a bid price – what is it? How do I know what price to choose? We hear you, and we’re here to help. Our team has answered all your bidding questions to help you build a campaign that’s competitive.
What is bidding?
Bidding in pay-per-call involves specifying what you’re willing to pay for a specific call duration. For example, an auto insurance provider might bid a price of $50 per call that lasts at least 120 seconds. Your bid price will determine how competitively your pay-per-call campaign performs, so it’s important to understand how to optimize your bid to achieve the best results.
Optimizing your bid price to maximize call traffic
Typically, in setting up your pay-per-call campaign, the higher you set your bid price, the more competitive your bid will be with respect to other advertisers in your vertical. So, the question that comes to mind is: how do I pay as little as possible, while keeping my bid competitive? Well, we’ve got you covered. CallThread, Soleo’s pay-per-call network, offers advertisers an easy-to-use bid strength tool. This tool measures the competitive strength of your bid price and gives you the ability to adapt your bid until it’s right where you want it.
Setting a Competitive Bid Price in Your Vertical
A competitive bid price may vary from vertical to vertical. For example, an advertiser in Appliance Repair might only pay $20 per 90-second call, while an advertiser in Pest Control might pay $45 for a call of the same duration. This is the result of several factors – how saturated each vertical is within your network, the average call duration within each vertical, the likelihood that a consumer will convert within that duration, and most importantly, the value associated with a new customer in that vertical. Our bid strength tool factors in this information to assure that your bid is competitive.
As you get started with pay-per-call, choose a network that provides you with the tools you need to build a successful and competitive campaign. If you’re interested in learning more about CallThread and our bid strength tool, visit www.callthread.com or check more of our resources.