According to a statement made by Google, every $1 spent on AdWords by businesses makes an average of $2 in return. These numbers clearly indicate that a successful Google AdWords campaign can work wonders for a business. However, AdWords can be perplexing for new users and it is often seen that unsuccessful campaigns cost much more than estimated turnover, resulting in a huge loss.
Step 1: Make sure there is demand for what you are looking to supply
Before you plan on spending a ton of money on a Google AdWords campaign, you need to ensure whether your customers are searching the keywords regarding your products or services or not. If they are, they are likely to come across your campaign. If not, your campaign will remain unvisited and eventually fail, costing you a massive amount of money. Why create such a campaign if no one ever sees it?
There is however, a way to prevent this from happening. Using Google Keyword Planner enables you to deduce the frequency of search of a keyword related to your business. The tool will also tell you about the amount of money you will have to spend per click.
Having knowledge of the demand of your product or service will allow you to decide whether you should move ahead with the campaign or initiate it in the future when there’s more demand.
Step 2: Deduce the cost and viability of the campaign
The entire purpose of an Adwords campaign is to generate higher revenue. You can do this by making sure you are making more money than what you are spending on the campaigns. Keep in mind that specific keywords may have very high cost per clicks, which acts as a hindrance in obtaining a significant return on investment. You can use the following formula to calculate your maximum cost per click (CPC).
Max Cost per click = (conversion rate) x (Average profit per customer) x (1-profit margin)
Once you have a value for the max CPC, compare it to the CPC estimate given by the Keyword Planner tool. In case your max CPC is considerably lower than the CPC given in the Keyword Planner, this is a clear sign that your keyword phrase is unlikely to be profitable.
Keep in mind that these are simply estimates. If you feel your chances are strong, use historical data to deduce your own numbers once you start the process.
Step 3: Learn from your competitors
You can use your competition to benefit your own campaign. Use tools like SpyFu, SEMRush and KeywordSpy to find out what keywords your competitors are using and to track their ad campaigns. This will allow you to decipher the popularity of their product and the keyword they have incorporated.
Step 4: USP (Unique Selling Proposition)
There are hundreds of companies selling the same product you are; so the question arises: Why should a consumer buy your product instead of someone else’s? To answer this question, you must establish a USP to attract your target audience. Take Domino’s for example. They have used their 30-minute delivery guarantee for years. They only exploit this advertisement slogan to attract customers.
Step 5: Blow customers away with a mouth-watering offer:
We often buy stuff for the sake of buying it i.e. the deal was just too good to let it slide. Give your customers something they can’t refuse. Make sure the price is less and the benefits are more. Don’t just put up a deal for no reason. That makes your website seem less credible. Try to align your deals with national holidays or global events to attain maximum viewership.
Step 6: The advertisement
Draft your advertisement. This part is an amalgamation of the 5 steps above. Combine them to create your advertisement, which will spearhead your advertisement campaign. Make sure to add a killer header, which incorporates the keywords you want your followers to search.
Step 7: Configure AdWords settings
The default settings in AdWords aren’t always efficient enough to facilitate your campaign. For example, you can add a list of negative keywords that can help you customize how your customers search your product. For example, if your website is about office furniture, add a movie to the list of negative keywords so that a person searching for office related TV shows does not come across your advertisements. This is to prevent your advertisement from spamming people who are not interested in it and hence, maintaining exclusivity.
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