CPC vs CPM: The Battle for Crypto And Dollars

Learn whether it’s best to use CPC or CPM in your next crypto ad campaign so that you smash your targets!

Knowing the right moment to use a CPC or a CPM campaign can be the difference between campaign success and failure. Throw that situation into a highly competitive market such as crypto and the line between success and failure becomes wafer thin.

So, should you be using CPC or CPM in your next crypto ad campaign and how can you pick? This time we team up with marketing wizards from Bitmedia crypto ad platform to walk you through this minefield and get your next crypto marketing campaign on rails.

What is CPC?

CPC stands for cost per click. This means that whenever your ad gets a click, you pay money. If you’ve got a CPC of $5 and your ad gets 1,000 clicks, you’re going to be lumped with a bill of $5,000. Now, this is fantastic if you’ve got a targeted display ad campaign that has a goal of generating active leads.

But, if you simply want people to become aware of your brand, this is an incredibly expensive way to go about it. CPC campaigns are best used when you want viewers of the ad to take an action, such as sign up, use a discount code, or make a deposit. This is why CPC campaigns cost more money to run – you’re getting tangible results and you pay for those results. 

“Our clients often add frequency capping and ad rerun to their CPC campaigns, which further enhances targeting and makes a lasting awareness of their crypto products and services”

• Matvey Dyadkov, CEO, Bitmedia

 

What is CPM?

 

On the other hand, we’ve got CPM, which means cost per milli. When you use a CPM campaign, you pay out for every 1,000 impressions that your ad gets. If 1,000 people click on your ad, you pay the exact same price. So, if you’re running an outreach campaign designed to get as many eyes as possible to raise brand awareness, then this is the perfect solution. Let’s say you’re running a $5 CPM campaign and your ad gets 1,000 views, you pay $5.

This makes CPM ads perfect for brands looking to run campaigns to drive awareness or simply to get in front of as many eyeballs as possible. The only downside here is that 1,000 people could see your ad, but only 5 click through and take an action on your site or app. But, that’s not the goal of a CPM ads, that’s the job of a CPC campaign!

Creating broad awareness does not mean that you broadcast your ads without a concrete heading. You still need to whitelist publishers, setup advanced geotargeting and smart remarketing, all available via Bitmedia.

Which model is better for crypto advertising?

In the crypto advertising world, knowing when to pick CPC vs CPM is critical. If you pick the wrong campaign type, you could either end up with poor results or a hefty bill. So, we’re going to give you a cheat sheet to use so that you can pick the right ad set every single time.

 

You want people to know your name

Let’s say that you’re launching a new NFT marketplace, cool! You’ve already got tons of awesome NFTs on your marketplace, but you haven’t got any buyers. You want to get your marketplace out there to the masses as efficiently as possible. For this, you’re going to want a CPM campaign. You’re paying to get your ads for your NFT marketplace in front of as many people as possible. That’s it. That’s the goal and that’s the solution.

Once the world knows the name of your NFT marketplace, they’ll flock to it. And this is the beauty of crypto ads. Everyone wants to be the first into hot new projects, so a CPM ad campaign lets you keep the costs down low while the reach is sky high. That right there is a recipe for brand awareness success.

You want new users

Let’s say that you’ve got the hottest crypto game in town, but you want some new users to come and play. This means that you’re trying to drive an action so you’re going to want an ad type that drives action. Up steps CPC to the plate. CPC will allow you to get your ad in front of as many eyes as is humanly possible, only paying when someone clicks on it.

It’s up to your fine-tuned and super-high converting landing page to do the rest. In this case, you’re after a specific type of person, someone that wants to play your game, so it might take several thousand impressions to get 1 or 2 new players. So, CPC works perfectly here as you only pay when someone clicks your ad.

Pick your campaign carefully!

So, if you’re wondering what earns more money CPM or CPC then the answer is simple – what’s your goal? If you want to get as many eyeballs as possible on your ad and brand name, then you want a CPM ad campaign. If you want to acquire new users or drive action, then a CPC deal is right for you.

Other than the terms of what you’re paying for, both ad sets run in exactly the same way. You can fine tune your audience using the various tools on offer at Bitmedia, allowing you to maximize your crypto ad’s potential. Go get ‘em!