About 70 percent of successful business today are online and are engaged with Google Ads for a better response and promotion. It is also mandatory for a business to have a website that advertises its services without a time limitation. Your website will highlight your business but it is also a fact that there are millions of other websites that too are doing the same. This is exactly when Google Ads come in and provides your website the edge that you deserve. 'Google Ads is a powerful advertising tool for businesses that promotes success and also generates leads and ROI' Achieving what you have aimed Google Ads are one of the most engaging advertising which provides your desired goals. Even if your desired goal is to generate brand awareness or just traffic, Google Ads is the right choice to engage in. Unlike other social platforms, Google Ads - not only attracts more leads but also provides conversions and sales. Other profits of Google ads would be:
- Advertise Directly to Desired Prospects
- Desired brand Exposure
- Reach the Right People at the Right Place
- Immediate Impact.
- Payments only when people click.
- Limiting your budget.
Deciding on how much to actually spend?
You will never find a common answer to this query as it is subjective and differs from business to business. There are various factors that determine the budget that should work just fine and it comes after you publish your ads under a variety of budget to test its affectivity at each level. Let us look at few other factors which consider the planning:
Google's Keyword Planner
When you decide to run a Google Ad campaign you also decide on which keywords you are willing to target. Your results are based on your keyword preference and your budget depends on how much you are willing to pay for each click that directs to your site.
Goals for Leads or Revenue
Ask yourself; is your goal for new leads or revenue? It means the amount you spending now may be getting you a significant amount of traffic or leads but you might have to lighten your pockets some more before you start getting conversions from your site.
The Traffic you actually need
It is really important that you decide the amount of traffic you would like to acquire. The amount of traffic you decide on or what you feel is right for you is the criteria that sets the budget of the Google Ads.
The most common forms of Google Ads Campaign
When it comes to online ads, there are several types of campaigns that you can run for better engagement and conversions. The two most common types are:
- Cost-Per-Click (CPC): With this type of campaign, you pay each time someone clicks on your ads.
- Cost-Per-Mille (CPM): In this case, you pay ad networks each time they display your ads a thousand times.
From a cost perspective, CPM ads tend to be cheaper as you pay after a thousand displays however CPC though costlier, has managed to attract a significant audience that believes its affectivity. Your choices and preferences may vary and you may choose your type of campaign accordingly.
How Can You Control Your Adwords Expenditure?
When you are investing you must also make sure that your budget is well maintained and well assessed. You would not want to spend more than what you actually need so it is really needed that you maintain and do not spend blindly expecting for a better result. Here are three ways of hacking the right technique to spending your Google Ads expenditure:
Match your budget to your business goals.
You would need to keep a balance between the budget set for your campaign and the overall value that the campaign provides to your business in return. It is really important as proper assessing would allow you to maintain the same value but by paying as low as you possibly can. This ultimately helps you increase profits and maximizing the ROI.
Monitor how your budget is being spent.
If you own or operate a business you will agree that money need to flow constantly for smooth work and Google Ads also needs to be treated the same. When you spend a constant budget and continue on your ads and keep an eye on the potential problems that the campaign may be facing and the right budget to maintain.
- Invest in what works.
Besides spending at the outset of your campaign, Google Ads also provide you a complete performance report which can be used to control your budget. Instead of paying blindly for what is working, analyze performance and channelize your budget better and more on things that have been working right for you. You're Google Ads account provides valuable feedbacks and that is the report card to your campaign's affectivity. So keep your business goals simple and invest smart to make the most of your Google Ads investment. You're going to need at least around $100-200 to test ads for each keyword you want to target if you want to get enough data for significant results. That';s a lot of money, so you need to be careful about how you spend it. Ideally, you shouldn't blow your entire budget in a single day. It can be tempting to do so if you want to get quick results, but there are a lot of factors that can impact conversions. For example, people may be more willing to make purchases at specific times or dates. In other cases, your ads will do better with people from particular locations. Your goal should be to spread your budget across at least a week or two. Think of it as a test phase. Which helps you generate enough data to grow your campaign? Once you know which of your ads do better with which audiences, you can target those users specifically. This should net you more conversions and a more significant ROI. Fortunately, AdWords provides you with advanced targeting and daily budgets, so you can configure your campaigns to run on their own. Then it's just a matter of checking your reports frequently. If you see a campaign is going too long without netting you results, you can nix it and return to the drawing board.
Running ads online can get pretty expensive, and some spend hundreds or thousands of dollars daily on AdWords. However, you can also get good results with more modest budgets. Before you get started, though, it's smart to budget how much you can spend on AdWords ads and stick to that number initially. In most cases, you'll need to spend at least $100-200 for a keyword with an average CPC to find out if your ads are getting the job done. If you aren't making a return on your investment at that point, you may need to return to the drawing board to rethink your strategy. Do you have any questions about AdWords costs in general? Let's talk about them, contact Adquicky today!