I see this PortCo strategy too often: Camp out under a tree. Pick the same low-hanging fruit daily.

Then execs act shocked when the tree’s bare.

That’s bottom-funnel addiction.

All conversion ads. All the time.
What could go wrong?

Here’s what happens eventually: You’re chomping away at all the low-hanging fruit on one platform.

That low-hanging fruit starts to dry up. You’re left with a problem: “Hey, Meta’s not working for me anymore.”

The math that’s killing you:
x Conversion CPMs = 5-8x reach CPMs
x You still need 6-7 touches to close a sale
x Why pay full price for all of them?

Smart portfolio operators arbitrage that CPM:

– Get your first four impressions at a sixth of the cost
– Fill the top of the funnel before bottom-funnel costs become prohibitive
– Deliver beautiful creative that keeps you top of mind
– Then swoop in with conversion ads when intent signals activate

Contrast that with paying seven times CPM seven times. All of a sudden you’re paying a lot more.

The investments that connect early and convert later will dominate.

The ones that chase immediate conversions? Enjoy paying gourmet prices for bruised apples.