From the start I've always had the price in my ad. I tried for a day to split test with one add w/o the price. My CTR was the highest it had ever been. But my Conversion rate went down way down. Wondering what everyone else preferred?
I don't know the relation of the price on ad and the conversion rate as this invokes complex cases depending of each market. But is recommended to only put prices on ad if your price is very competitive compared to the prices on the ads of your competitors - so if you put a $8.95 on your ad but a competitor decide to put a $4.95 for the same product this will kill your Quality Score as no one will click on your ad. So 1- check your competitors price ads before putting a price on your ads. 2 - if you decide to put a price on the ads, create also some ad(s) on the adgroup without price - so if the system detect that the priced ad CTR is to low it will begin to show more the non-priced ad automatically for you.
From my experience, every time I showed pricing data in any of my customer's campaigns, their conversion went up through the roof
That stands to reason, because at that point you have a real buyer, who also knows what it is going to cost. So they are likely to convert. if they did not think your price was competitive they might dismiss you right off. It is weird to hear the OP say they are seeing lower conversions with their priced ad.
If from the ad, they might think its free, but there's really something like $7 postage or woteva, list the postage cost in the ad.
If you list the price in the ad you reduce your number of clicks (and your advertising costs), but your conversion rate goes up. Why? Because you answer a very important question up front: how much does this service/product cost me? Instead of having to click your ad only to find out that what you are selling is too expensive (or just plain not free) they know ahead of time.
My conversion hasn't gone through the roof. But when I did test the ad with no price. I believe I was getting more curiosity clicks than anything. Although my CTR is poor with the price, my conversion rate is great. Damned if you do and Damned if you don't.
I'd also like to point out something that amazed me. When I started displaying my prices in my ads, not only did my conversion go up but my CTR as well. While the conversion is easy to explain, the CTR part left me in shock
That is good point. I never tought about the effect when the price is included in the ad. However, it probably is suitable for low cost gods and services. Do you think that the same rule applys to something that cost more that $1,000 ?
Hmmm... That is a good question. Not sure about this one but it still might work as long as the general perception of people is that this is a reasonable price.
I wish that was my experience! When I experimented with price-listing, my CTR dropped immediately...in a competitive market, I wasn't convinced I could afford to "wait and see" whether than translated into more conversions.
My ROI has always been better when using price in ads. CTR is usually lower however. But that doesnt matter, its all about ROI!
ROI is the king. I have to agree that no matter what your cost/CTR/impressions are, it's all about your ROI.
I agree that ROI is king. Since have to take into account that with better CTR, your quality score is higher and cheaper to advertise, but the cost goes up and lowers your ROI if most clicks are curiosity clicks. But I wonder how it helps with impulse buys.
Theres one major thing you guys haven't talked about here. What about the strategy of going the complete opposite way. Instead of having the price and lowering ctr, add "free report" or something and raise the ctr. Then, give them a free report/guide/ebook or whatever if they sign up for your newsletter/autoresponder. Free stuff online is what they really want anyway... Then follow ruthlessly with a high quality report/guide/newsletter getting them to trust you and like you. Then just add a link to your products right after you just gave them some really valuable info. They will almost feel obligated to buy from you after you gave them a bunch of value for free. After 7 emails, they will have seen your website name/info the magic # of times, and voila, you just converted a bunch of people who clicked on "free" into paying customers, your high ctr makes your ppc costs go way down, and you make a bunch of money. Discuss.
You should only put the price in your ad if your price is lower than the competition's otherwise it will pretty much kill it
I have to disagree and say that I personally belive in putting the price even if it is higher. The reason for this is that price is not the sole factor and brand is also a parameter people consider especially when buying online ("can I trust this seller?"). Besides, if your price is higher then you probably wouldn't want to pay for the clicks that get to your site and leav as they find out the price.
Anyone have any experience with prices in the automotive market or a market where the price is negotiated?