Projecting costs for your next pay per click campaign can be a mysterious ride while there are multiple factors deciding your PPC budget interleaving the success level. However, among many factors, there exists a critical decision which no campaigner dares to ignore in a PPC program the “term selection”. Only bid on terms that are extremely relevant to your business. Optimism is not so good when it comes to paid search especially the one in the lines of “oh! We only provide service in Florida, but we would be providing services in Georgia someday, so why not bid on all the Georgia search terms.” You’ll collapse your marketing budget in a while.
With a combination of right tools and background research you can make your PPC campaign a success, there are many programs/tools which let you find search terms that are right for you. As, an example if you have 100 search terms, with an average search volume of 400 per day. That’ll lead you to around 12,000 potential searches per month, combine this with multiple studies and your own research and you’re good to go. Look for average click on paid ads, balance it with natural search results, look for placements of paid ads; some are on the top of a page and in the right hand column, some have sort of blue or gray background color behind them. There are many things to consider
So, setting budgets for your PPC campaigns is complicated, but it doesn’t have to be difficult. Here, I’ll walk you through some five steps to utilize every penny of your PPC budget efficiently.
1. Initial PPC Budget:
Setting an initial budget can be challenging to cake walk depending upon your level of experience. It’s though more penetrative task for a new advertisers, the key here is to use your new PPC account to test the effectiveness of PPC while collaborating with marketing channel for your business. This will give you an idea of how much to be paid for every click, driving a considerable amount of traffic to your website through paid search. Though never accurate, 100% however, an AdWords tool can estimate your chances in the terms of costs per click in different positions. Look for how does your site typically converts, calculate a ratio of unbranded/branded organic search engine traffic your site converts.
Another thing to lookout here is CPA (cost per acquisition) if it’s too high to be profitable, closely monitor it. Deciding your PPC budget can also be linked with CPA if it looks really promising, give it a longer run by allocating a larger budget.
2. Profitability :
This is actually the sole purpose of any PPC campaign and shouldn’t be forgotten in long run. Any PPC campaign should be based on profitability, making way for your business the way it actually runs. Initially emphasis on areas of your business you are most profitable and getting most attention, gradually moving to others.
3. Capping the spend
An unlimited budget is scary that’s why most advertisers cap their spending. However capping your spend can drastically effect your profitable leads and sales generation. Though capping may well suited to your total marketing budget, but limiting your leads is a greater disaster in the long run. And if traffic stops being profitable when you have to pay $3 per click, you can always take all of the profitable traffic you can get paying $2.
4. Optimize Budget for Unprofitable Campaigns
Contradictory to my last point, yes the inverse is also true: unprofitable campaign? Cutting budget isn’t the best idea. Rather, implement techniques like bidding changes, optimizations around Quality Score (better targeting and campaign structure), and so on.
Even if you limit your budget for unprofitable campaigns, you’re still losing money. Instead, fix the problems in that segment of your campaign, try to get the grip of the issue and sort it.
5. Draw a line between your PPC Budget and Paid Budget
A word of caution and my final tip: There is a world outside of PPC and to an extent Google. Search for them try a test campaign on adCenter, Facebook or LinkedIn or some 3rd tier PPC solution providers.
While the bulk of your online marketing budget will be used on AdWords. But, you shouldn’t ignore other channels you can’t leave a cost-efficient conversions by not putting your budget on these alternative networks.
Hope these 5 tips will shape your campaign in 2014.
No comments:
Post a Comment