ChatGPT recommends bidding somewhere around by £2 per click, but I bid between £0.15 and £0.07 and was still able to get traffic. However 0.46% is a shockingly low conversion rate.
I'm not an ad guru by any means, but isn't it expected that you will get junk clicks with a bid like that? Seems like a you-get-what-you-pay-for scenario.
Well I think your experiment more shows that while Open AI is trying to position this as a viable marketing platform, in reality folks with marketing dollars do spend aren’t buying what they’re selling so you’re able to win at pricing far below where they really want/need the market to be.
The cost of clicks tends to rise over time with advertising platforms (Google 'the law of shitty clickthrus'). This effect is very noticeable with Google Adwords, for example. So it makes sense to get in early with a new platform and try and get some traffic, before the big corporates push the prices up.
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I'm not an ad guru by any means, but isn't it expected that you will get junk clicks with a bid like that? Seems like a you-get-what-you-pay-for scenario.
No. Bidding low means less or no clicks, but should not affect traffic quality.
Well I think your experiment more shows that while Open AI is trying to position this as a viable marketing platform, in reality folks with marketing dollars do spend aren’t buying what they’re selling so you’re able to win at pricing far below where they really want/need the market to be.
The cost of clicks tends to rise over time with advertising platforms (Google 'the law of shitty clickthrus'). This effect is very noticeable with Google Adwords, for example. So it makes sense to get in early with a new platform and try and get some traffic, before the big corporates push the prices up.