“The average price of conversion” strategy aims to display your ads to searchers who are most likely to convert on your website for a specific cost per conversion. This is yet another step forward from Yandex to increase effectiveness of advertising efforts on the Russian platform.
However, in order to apply the strategy, certain conditions must be met:
- You need to have a Yandex Metrica account
- Yandex Metrica counter has to be installed on your website (ideally on all pages of your website or just the landing page which you wish to track)
- You have to specify goals in Yandex Metrica
- The total number of completed goals in the last 28 days should not be smaller than 40
When setting up the strategy, you need to specify your desired cost per conversion and the goal.
In the following two non-mandatory fields you can specify your weekly budget as well as the maximum cost per click which you wish to pay.
This is an automated strategy, which means that it will control your bid management, giving more exposure to keywords with higher chances of converting at the targeted level.
To make this strategy work effectively, Yandex uses a complex system of forecasting, query statistics data, forecasts of CTR and conversions, and click prices to name a few.
Conversion rates depend on advertisers’ ability to attract searchers to their websites as well as their landing pages effectiveness. If you switch on this strategy and at a later point decide to pause your campaign or, for example, update your website’s design, edit campaign settings by adding new keywords, or set a new CPA, then the system will take time to adjust to these changes once you set it live again. As a result, you may not achieve your desired results straight away.
The data is analysed in full week format. You may attract conversions for prices higher or lower than your target, but the system will always aim to achieve your desired CPA as the average figure during the given week.
With the introduction of “Average price per conversion”, the number of strategies available on Yandex now totals 8. You can find more information on the various Yandex strategies here. Or watch this interview below:
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