CPC or CPM: Which is Better for Crypto Advertising
Let’s imagine that you are about to start your first display ad marketing campaign and you find yourself faced with CPC, CPM, CPA and other three letter pricing tools that at first glance make no sense. If such is the case, you are in the right place because the team at Bitmedia Bitcoin CPM/CPC ad network is about to gist through what all these tools are and how to apply them to the marketing strategy of your crypto project.
What is CPM?
CPM stands for Cost per Mille and assumes that you pay for each 1000 impressions your banner ad receives. Crypto projects use CPM marketing to gain brand awareness as the general point behind it is for the banner to be seen by as many people as possible. In other words it is all about trust and the only way to become a trusted brand, one must become recognised. This then serves as the foundation for your brand’s development and client acquisition.
When should CPM marketing be used?
As per above, CPM is all about getting the word out and therefore it is the primary step you need to utilise in the marketing medium. Once your brand becomes recognised, it gains in trust and trust is incremental in the world of crypto and blockchain, which as you know has suffered from many scams along the course of its development. Resultantly, trust will become the foundation you will build your remuneration on.
CPM marketing is tracked by impressions and organic traffic that the campaign generates. It does put some companies off due to not delivering easily calculated returns. Still, when starting out, you should always opt for CPM first.
What is CPC?
CPC is decoded as Cost per Click, meaning that you pay for each click your banner generates. Companies turn to CPC marketing when they want to generate sales as each click means that a user goes to the website and is expected to register and in perfect circumstances make a purchase. Yes, you can say that isn’t the purpose of any marketing campaign reflected in generating sales and you will be right. Only difference, is that the audience you target aren’t stupid and you must find the right way to trigger them in favor of the message you carry.
When should CPC be used?
Since CPC implies a user visiting the company’s website, the stage of your project development must be at its final stage. Think of it as one chance to impress because if something is not up to the right standard, you will lose the client forever, or until you gain traction to an extent that your brand becomes a word of mouth. This is why CPC marketing is typically used after CPM display ads and once your crypto project gets its preliminary brand awareness. First, you let the audience find out about you and then you start creating conversions.
CPC vs CPM income wise
Contemplating what earns more money? The CPC or CPM? There is no point in taking sides here because your CPM brand awareness and CPC user acquisition campaigns should work in tandem towards one master goal. First, you gain exposure, then you target and attract. Oh and don’t forget about retargeting which is also available on Bitmedia bitcoin ad network and fuels the effectiveness of your crypto advertising.
CPM or CPC Summary
Your decision on whether to go with CPC or CPM bitcoin display ad pricing model should be based solely on the goal you pursue and the stage your project is at. New to the scene and don’t have enough exposure? Then it is best to opt for CPM and get the impressions to spread the word about your ingenious blockchain project. Opposingly, if you believe that your name is not new to the public, start working on the conversions and securing the leads. Sometimes, first impressions already attract new clients and once retargeted and CPC adjusted, your ad campaign may start generating profits before you even know it.
We constantly work on streamlining the display ad setup process so it is easy and adjustable whilst the campaign is active. Our specialists are always ready to help you with campaign structuring but if you decide to go solo, here is how it is done…
CPC and CPM campaign setup
1. Click on + New Campaign
2. Enter your new campaign name and click Continue
3. In the next box enter the name of your new Ad Group. Ad Groups allow you to run multiple campaigns under one strategically named campaign. Once the Ad Group name is set, choose between the CPC or CPM methods below. As you remember we choose CPM for brand awareness and CPC to acquire users once your project is fully up and running.
In the bottom part of the menu you can budget how much money will be spent on your new CPC marketing campaign per day. Finally, click Continue.
4. Now we come to the most interesting part. It is where you select whether you want to run a targeted CPM or CPC ad campaign or have your banners distributed across the whole Bitmedia bitcoin ad network of publications.
Advanced Placement is the targeted marketing, that allows you to whitelist and blacklist the countries your ads will be or won’t be displayed in, language that your end user speaks, device type that your prospective clients use and last but not least, the retargeting you want to apply to the campaign.
By selecting the Ad Rerun time, you set the number of days that will elapse before your ad gets displayed to the same user. Frequency Capping on the other hand is responsible for how many times a specific user will see your ad.
Keep in mind that if you are not sure how to best set your targeting, the Bitmedia specialist will not only assist you with it but also help to tailor it to your specific business type.
5. Once your crypto campaign targeting is set, it is time to upload the banner assets. Don’t have them? Not to worry, since Bitmedia’s design team will be able to assist you here also, creating a crypto display ad design that will make your CPM or CPC campaign pop!
6. Step five marks the end of your campaign setup. Next, you just add funds to your balance and watch the stats, that in turn serve as a visual display of how your crypto project becomes a well known name in the industry. Keen to take your crypto business global?