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Can increasing CPC decrease cost per conversion?
Since I’m guessing Google doesn’t randomly choose who is part of the cheapest 20% impression share for a competitionless keyword, they must be the ‘lower potential value’/’least likely to convert’ people, right? [unless google is trying to lead us into increasing our budgets by doing the opposite?]
Therefore, could increasing my CPC and budget actually decrease my cost per conversion?
Should I just increase my budget to get ~80% imp. share for a few days to see? I don’t want to spend too much more on a hopeless project.
Any help/links/anecdotes are greatly appreciated as I couldn’t find anything about this. Thanks!
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More info if needed:
I’m trying to validate a novel product (niche growing market, but the product requires a little bit of education to understand, those searching my keywords aren’t looking for my product) with a Shopify website and Google Ads. I have my manual CPC set to $1.00, get an average CPC of about $1.00, have a budget higher than my max daily spend (~$20.00), my countries are set to higher-income English speaking ones, and I get about 20% impression share for keywords no one else is bidding on. Right now I’m on the border of profitability so I’m just trying to think of ideas- I didn’t expect the ‘default’ CPC for competitionless and previously unmonetized keywords to be so high 🙁 lol