I have been following the $15k Challenge it has been some great reading. Dan Raine has been very transparent but will probably lose the contest and be wearing some embarassing “clothing” soon.
The challenge involved Dan getting people to join his mailing list. The more I thought about it, I have never had a mailing list. I have forums that I send a newsletter type email to, but nothing that was purely a mailing list.
Maybe I missed the boat in the late 90′s when everyone was pushing a mailing list, but I thought I would give it a go. I created a site with basically a name squeeze page in which I’m trying to get a name and email address.
I thought this could be a great way to spend some PPC money and set up my campaign. In my campaign I also set up conversion tracking on my “Thank You” page.
This has told me that each visitor that signs up from AdWords costs $1.72! Extremely expensive. Before setting up the campaign, I placed a value of about $.20 on each subscriber. $1.72 is a little more than 20 cents. Unless this campaign drops the cost real quick, real soon I’m going to have to put it on hold indefinitely.
I think the problem is that the niche is a medium paying niche. Costs in AdWords have been about $.18 per click. A little more than I was hoping to spend.
Before I shut it down, I’ll rewrite the ads, test a new namesqueeze page and make sure my keywords are perfect. Needless to say this is going to be wasted energy. I know that I won’t be able to get my CPC down from $1.72 to $.05.