How much should I pay for online advertising?
I am thinking of experimenting with some advertising on social media. I am struggling to figure out how much to pay. I am going to try PPC, but am not sure how to determine a reasonable price per click. Thanks for pointing me in the right direction.
Figure out the CPA (Cost per acquisition) you are willing to pay. These are generally based on one time benefit/profit, 1 year profit, or LTV (lifetime value of the customer/average). Once you have the CPA, understand that 2% of clicks might convert (not more), and .2% of banner/display ads will convert (not more). If more convert, you are doing something right. I think PPC is a pro's game, not a starter's, so don't spend too much too fast. Measure the performance and then optimize.
Please first select budget for your marketing. every business 20% part of investment or marketing of total budget they invest on marketing as fund.you can try that and i can tell your minimum 250$ to max 999$ for PPC for getting fast leads.
Base it on results. If the marketing of an online ad produces one buyer, what you pay needs to be figured into the cost of that item. If the ad cost more than the item purchase, you are paying to much for online ads.
sounds simple, but remember, those sale personal of the online ad companies have a ton and little print making sure they get paid even if the ad producing zero.
Depends on how well you are funded, if you are bootstrapping it is whatever you can afford. But I'd say around 5-7%% of your marketing budget.
Here are the factors you should look for while going to choose PPC marketing agency:
-> Experience & track record
-> Keywords selection knowledge
-> Understanding of negative keywords list
-> Conversion tracking
-> Emphasis on dedicated landing pages
-> Location expertise
-> Focus on structured campaigns
->Smart budget allocation
->Familiarity with new features
-> Feedback and reporting
Check detailed version of all these points here: http://www.fatbit.com/fab/choose-best-ppc-management-company-guaranteed-results/
I am sure this will help you :)
Your money may be better spent on content creation in order to facilitate organic traffic from optimized pages. This is the least expensive, most enduring traffic you will ever get. In addition the content you create will solidify your brands credibility, authority and be helpful to your site's visitors.
Hire someone. If you dont do it correctly you wont get anything. I would first decide what to start with. SEO or PPC. You need a professional to recommend which is the best place to start based on your goals.
As others have stated, look at what people currently search to find you (Google Analytics can tell you this). Then look at what number of searches are being performed for those keywords and maybe some similar keywords (I say words, phrases are probably better). Setup multiple adverts with variations of content/wording to see which performs better. Keep to what you can afford. Finally, ring Google Adwords. They are there to help for free and are very helpful indeed. Good luck.
Ps. Monitor and manage, don't just set it live and see what happens.
It's easy do to keyword research and determine suggested CPC.
The main thing is setting up the campaign correctly. I routinely see folks spending in the thousands and getting zero results because they don't know what they're doing.
First 3 tips, avoid broad match if you're new to Adwords, make sure you add a column for Quality Score when you look at keywords (as that directly determines how much you pay), and link with Analytics so you can see metrics like goal conversions # pages viewed etc.
Doing it wrong/poorly rarely teaches much useful.
Depends on the type of campaign and the end goal your trying to achieve. For example, I have a client who carries over 1,400 sku's of items inside of his furniture store and he spends an average of $5,000 to $8,000 a month just with Google Ads. His goal is to be front of mind for anyone looking to purchase items in a specific price range using Google Ads to drive traffic to his site and then converting that traffic into other sub campaigns , i.e. newsletter, download coupon and in store purchases. As a basic rough rule for using Google Ads, I would look at what your competitors are using for keyword search (https://adwords.google.com/KeywordPlanner) and then finding Blue waters of search terms that are under $1.00 to test out how much you should actually spend to drive traffic or a result.