Whenever I go catfishing, I take two poles.
On one, I put a couple split shot sinkers on it, a big hook, and a piece of hotdog. I throw this one out to the middle of the lake/pond (or just as far out as you can get it, if you can). This one will sit on the bottom and get any cats who are feeding down there.
On the other pole, I use a bobber, a big hook, a single split shot sinker (for casting distance), and a piece of hotdog. I don't throw this one more than 15 feet from where I'm standing. Lots of times I'll even throw it right along the bank in some shady spots.
I have found that hotdogs are the cleanest, easiest, and most attractive bait for catfish. They absolutely LOVE IT! Here are a couple of cats that me and my girlfriend caught yesterday (we didn't keep anything under 3 lbs.):