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Since then, i've come to see that a lotta folk here expect similar or much more
I've asked before about cost per lead but I have a feeling that many don't know what it is,
so this time, just tell what you spend a day
Tis a good benchmarking exercise, everyone kinda learns something, especially me, I hope :-)
Did you adjust your bids lower? The initial cost per day they quote is based on your ads being in the number one position. Try putting yourself in a lower position... and to be honest, their quote can be pretty far because they are guessing a 5% click thru rate. This could be much higher or lower depending on your ad position and ad text.
Secondly, you can set a budget! Don't want to pay 40 bucks a day? Set your budget to 10 bucks or whatever you can afford at this stage.
If after a week you determine that you make 20$ for every 10$ you spend, then you'll be comfortable raising your budget bit by bit.
When I started I spent 10$ a day. When I saw that I consistantly made more money than I spent, I raised my budget more an more. Today my budget is unlimited, meaning if I can get Quality converting traffic, I will pay for it. I'd love to spend thousands a day.. but their isn't that much quality traffic available to me (at a price that will offer a positive ROI.)
No point in asking other people what their daily budget is... too many variables such as cost per click, ad text, targeting, market, your website, etc, etc.
Set your budget, track ROI carefully, adjust, track some more, adjust, adjust, adjust..... infinity.
If that $40 spend brings in less than $40 of revenue, then yeah, dump it. (Better- manage it better and find out why you have a negative ROI and fix those items.)
If that $40 spend brings in more than $40 of revenue, then you have a positive ROI and certainly no reason to dump it.
In regards to your posed question, we spend about $20/day.