Consideration campaigns, what are they? They were formerly known as traffic campaigns. How are they charged? Well, they are charged based on the amounts of clicks that you’re getting. So it costs less to run a traffic campaign because they’re only paid every time you get a click. Do I recommend utilizing consideration campaigns? Absolutely, I do, especially if you’re only looking for traffic, these are really, really good, as well, they’re great for utilizing as a retargeting strategy to, for example, retarget your website visitors or your add to cart audiences because you can maximize your profit and get charged the least amount possible.
The next type of campaign are the conversion campaigns. So these campaigns are charged per 1000 impressions, so you’re charged every 1000 impressions. It’s a little bit more expensive to run, and therefore you might need a bigger budget. They’re super, super effective in getting you the conversions you’re after and usually become very profitable relatively quickly enough, too.
What kind of budget are we looking at when it comes to running a consideration campaign? You can really start as low as $5 a day for a consideration campaign.
If you have a small budget and you only want to spend $5 a day, run a consideration ad. If you’re after conversion campaigns, you might need to up your budget a little bit more.
A good rule of thumb for conversion campaigns is to four times your cost per acquisition. So that should be like about the budget that you’re going after. For example, if your cost per acquisition is $30, then your daily budget should be about four times $30, so your daily budget should be about $120. If you don’t have $120 to spend daily, then your budget can be lower, but you will want to optimize for add-to-carts instead, as opposed to checkouts.
The reason being is because it costs a lot less to go after add-to-carts than it does checkout. Then as you build your add-to-carts, eventually you’ll be able to increase your budget and therefore, go after checkouts.
Catalog Sales Ads
Now, we haven’t spoken at all about the shopping ads on Pinterest, the catalog sales ads. And so let’s dive into that right now. And essentially catalog sales ads or shopping ads are charged also for 1000 impressions. They can get away with a smaller budget, like $15 a day, especially if you’re retargeting. Ideally you would have a healthier budget, like $30 up into however much you want to spend. I also urge you that for every ad group you’re integrating within a campaign, you need to increase your budget. If you only have budget for one ad group, then make sure that that ad group is as optimized as possible. If you have budget for it to test three, four, then that’s really, really great too.
In case you’re wondering how to optimize your ads, I have a complete Pinterest ads cheat sheet code guide. You can download it for free. It will help you navigate all of these optimizations.
Lastly, if you’d like an expert like myself to look over your promoted pins and talk about whether or not you and I are a good fit to work together, you can book a completely free call with me