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When you add keywords into your campaign, you might get the "first page bid" which will actually make your bids go skyrocketing high! This is BingAds way of trying to make money from new advertisers. These "first page bid" is a suggested bid price to be on the first page. But I never cared about this, I always bid the minimum for all keywords anyways which is $0.05.
Go ahead and click "add" for all of your keywords when starting a new campaign or adgroup, and just leave the first page bid alone for now, you can edit them later in the keywords panel.
After adding your keywords, click the "Save" button to continue to set your bids. Use $0.05 for both search and content. Set device to only desktops and tablets. Leave everything else as default, then click the "save" button.
After creating your campaign or ad group, in order to bulk edit your keywords, (change bid prices from "first page bid"), you must visit your keywords panel.
Now, near the bottom of the page, choose to show keyword rows by 200 or more.
Next check the box to select all of the keywords, then click edit and select change current bid.
Then set current bids to .05 or whatever you like. Make sure to do this to the other keywords from other keyword pages if you have more.
Since you're only going to bid $0.05 per click (for search & content), if you get too specific on keywords like "make money online in new York city", you're not going to get many clicks.
But, do include both specific long tail keywords and those general broad keywords too.
You will only know how much your keyword clicks cost until you actually start getting clicks. Your cost per click will be from less than 1 cent to 5 cents per click. Even if a keyword cost 5 cents a click, if you're getting good conversions, then the CPC is not a problem. So monitor your keywords and pause the ones that are not converting for you.
Should you target both PPC search and PPC content? Yes, start with $0.05 minimum for both. In certain niche, the content network may actually have better conversions and more clicks.
How long it takes for ad approval and to start getting traffic?
It can take up to a day for approval. Once the campaign is active, it can take another 24 hours for impressions and clicks to show up in your dashboard stats. I don't think stats are real-time so there will be some delay for sure.
The Main Idea For You to Make Money With This Method
The idea is to setup 10,20, 50, or even 100 of these campaigns and you can make a good deal of money. Find 10 campaigns that can make $100+ a month. Or even 1 good campaign can make $1000+ per month. Once you set it up and find a profitable campaign, it takes very little maintenance. Plus you can easily scale by just increasing your bids.
About once every two weeks, I'd check my campaigns; remove the poor performing ads and keywords. If something is making money, I'll increase the bids by a couple of cents. I would also look at my landing pages and optimize them for better conversions. Initially, you should look over your campaigns daily.
To Build a List or Not?
The idea of list building is to capture the visitor's email, then automatically direct the visitor to the affiliate offer or some kind of free report. Even if that visitor doesn't buy on their first visit to the offer, at least you'd have his email address. You would have already setup a series of autoresponder emails that would send out to your subscribers on a set schedule automatically to continue promoting the offer to your subscribers. Later you can promote other related offers to your list, making you even more money. Are you starting to see the value of list building? One email subscriber can potentially generate multiple sales through the life of this subscriber in your email list.
Should you use single optin or double optin? For me personally, I use single optin for list building using paid traffic. Double optin is safer for spam compliance but you will lose a lot of optins this way. It's up to you.
Again, so once someone opts into your email list, you can continue to promote all kinds of affiliate offers to this person for a lifetime (or until they unsubscribe from your list). This is why email marketing is so powerful.