There are millions of e-commerce companies that are currently competing with one another, all in different industries and countries worldwide. You might be one of them, trying to grab the attention of your target audience, in hopes of them becoming your next online shoppers. With such strong competition, you need to learn how to stand out and strategize.
By learning how to boost your return of investment well, you can win the competitive market and have your target audiences choose to transact with your business. But how can you do that? Based on experiences from my personal journey and experts like Adwords Management Agency, I share the different things you should do to win in the competitive (and slightly costly) PPC environments!
Boosting Your Return On Investment:
I know how daunting it can be trying to get your money’s worth from the investments you made in PPC and other paid advertising methods. Not to worry, as it’s possible to still get the positive return of investment by following these tips:
1.) Make Sure To Track, Track, Track!
This is a no-brainer, but you’ll be surprised that not a lot of people actually track properly. When I worked with high-cost clients, I realized that they don’t track phone calls that were generated from PPC campaigns, among other aspects.
Features like call tracking might sound too complicated for a local business, as it used to require coding, subscription fees, among others. Besides that, CPCs were low back then, so it wasn’t worth the effort.
However, there are industries that now pay up to $100 per click, so if you don’t track phone calls, you might end up losing more money.
Fortunately, tracking your PPC campaigns is now easier than ever. With just signup and snippet on our website, you can get a lot of insight into where your leads come from. That way, you can concentrate on the budget where you can spend it wisely, freeing up funds from campaigns that aren’t as successful as you suspected.
2.) Take Caution With Keyword Matching:
Keyword matching has changed a ton ever since Google created “Exact Match”. When talking about search terms and the way keywords match with them, make sure that you look at all aspects. Simply looking at the broad and/or modified broad isn’t enough.
It will take a lot of work when you want to force search terms to match specific ad groups. This is because Google will take liberties in matching keywords nowadays, such as substituting terms its things that are equivalent to what you have. Furthermore, Google already stopped showing advertisers the search terms they match for.
Because of this, you need to be vigilant about the data you have. So be sure to double-check everything.
3.) Learn About Negative Keywords:
This is something that used to be reserved for Broad Match. However, there have been recent issues outlined before, making this a more important tip to follow.
When it comes to Exact Match, it will take it will now take even more liberties than before. And with the lack of transparency on how your keywords will be matched, one solution is to establish negative keywords and take them out. This is a crucial tip to follow since one irrelevant click can cost you up to $100 or more.
To help weed our negative keywords, use keyword research, but in reverse. Find terms that you wouldn’t want to add, which can be done by utilizing the Keyword Planner, seeing related terms it would suggest. Another thing you can do is to use Google’s suggestions when searching to see if it would suggest long-tail queries to avoid.
For instance, accounts would automatically exclude queries with the keywords “jobs”, as they are employment seekers and not potential customers. Another example is searches that include “customer service numbers” or “logins”, which indicates that it’s a customer looking for information. Look out for information seekers or those who might be competitors in the industry.
4.) Evaluate The Device Relevance:
Users may have behavioral differences when using mobile devices, versus when they use a tablet or desktop. But it won’t be consistent in high-spend environments.
Let’s look at it this way: You’re from Texas and your air conditioner dies during the middle of the summer season. HVAC clicks will be very expensive, and it’s obvious why: Jobs are urgent and would be worth a good amount.
Now, how do you think the users are searching? They are usually on their phones while figuring out how to get their air conditioner to work, not sitting at their office desk doing research on their desktop or laptop.
That’s why mobile users are extremely valuable, especially since they are most likely to click-to-call from an ad, not going to the website. Such users require a quick fix!
Various B2B verticals are also pricey when talking about CPC, but for other reasons. This is because they are high-dollar deal amounts which can take a lot of time to close. They are worth quite a lot, but for other reasons.
Think about it: Are those users researching high-dollar solutions on their phone? Most likely not. They are most likely using their desktops when doing so.
So, you need to understand where the conversion actions come from, which is a vital part of your bid strategy. Be sure to look into data from Google Ads AND CRMs you may be using, so you can understand the full purchase cycle of your target users and the devices they use.
5.) Utilize Remarketing For Lower Click Costs:
I recommend that you use Remarketing Lists for Search Ads, which is an excellent way to show ads for highly competitive keywords, but for a smaller cost. When you bid on keywords in open auctions, it means you’re against many competitors. It would also mean that there are possible future customers, so high CPCs for where the searchers are in your customer journey won’t make any sense.
You can use RLSA to stay present when people search without clamoring for them in the open market. Similar to display remarketing, you are able to apply a customer list and show ads to users searching for higher-competition keywords. That way, your brand will be shown to users without higher costs.
You can apply RLSA from the Ad Group or Campaign level. Simply select your remarketing audience and select “Targeting” as its setting. This will make sure that keywords in the Ad Group will only show users in the lists you specified.
Wrapping It Up:
No matter how long you have been in the business, you’ll always come across competitive bid environments, with rising CPCs in promising businesses. But when you apply proper marketing principles, you can better target relevant audiences and cut costs in the long run, helping you gain more than spend. It will take some research end effort, but it will be worth it as you get positive ROIs.
I hope that all these tips to boost your return on investment will help you win against the competition you have out there. Don’t wait any longer and start utilizing these tips to create a winning strategy that beats your competitors!
Do you have any queries or want to share your insights on boosting ROI? Share them in the comments section below, I appreciate your answers and suggestions!