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.
It might be best to work with a professional when it comes to online advertising. It will cost you a little more than doing it yourself but the time and energy you save you can put into your business.
The online advertising specialists are doing it every day for different types of businesses. They serve as your partner to make sure your ads are performing. Some companies will even have tools like call tracking and recording to provide better metrics for you.
As many have said already, the CPC can range depending on the keyword, the area you're in, and so much more. I've seen clicks in one town be 5 times more than they were for the next city over for the same keyword. This is where using a professional can help you breakdown the data and strategize with you about what's the best direction to go in.
Before you pay for online advertising, you need to do some research. Have you identified your target market and ideal client? Do you know their problems and what forces them to solve their problem? Do you know which social platforms they use to get buying information? Do not assume Facebook is the answer. Many people are on FB, but they are not there to click ads and buy your stuff.
Next, you need to make sure that the message is written correctly. If you are not a marketer or copywriter, then I recommend that you hire someone with that expertise to write the messaging for your target market correctly. For it to work, the message must resonate with your prospect, show how your product or service solves their problem and show the results they should expect.
There is not really a stock answer for this as you will need to experiment with targeting to see where you get the best bang for your buck. I will say that I have found the best values with Facebook and Pinterest, with LinkedIn being a bit more expensive (but this could work for you, you are just going to need to test). A couple pointers I can give you is to use PPC for less engaged audiences and use CPM for higher engaged audiences (ie. Website Custom Audiences or Facebook fans etc...). The idea is that the higher engaged audiences will be more likely to click so you should get more clicks this way and are only paying the CPM price.
I actually did an interview with Jon Loomer who is one of the best Facebook advertising gurus around and you can check it out here > http://ow.ly/SKICU
Hope this helps and best of luck!
First great to know that you want to try out online advertising to increase your sales or leads. About your query as how much to invest it purely depend upon the targeted location, services you want to promote and the audience. For Example i am working on Google Ad Words from more than 4 years and also managing Facebook.
So, here different niche keywords has different CPC like for a dental service the average CPC of a keyword will go up to $3-$5. So, it all depends upon the competitors that you have in your targeted area. As far as Facebook is concerned the average minimum CPC is $1.
Moving further PPC is not about inserting keywords and forget, PPC is about testing, measuring the situation and circumstances in which your campaign perform and then try the best method to get the best results. So, a PPC pro play around your monthly budget to give you more conversions regardless the keywords used in your PPC account.
Adding more in digital marketing you need to first decide which platform suits your business better if you are looking for branding then Banner advertising through Google and Facebook is the best for you. If you are looking out for leads or sales then Google search network ads (Google ads) or Bing ads are the best option to choose and after achieving some great results you can invest the profit in Facebook. Apart from this there are many advertising networks like 7 Search, LinkedIn and advertising.com where you can do advertising and earn profits.
As far as management fees is concerned that depend on the individual how much they charge.
Hope the above suggestions will clear some clouds and now you can decide where to invest.
Take £200 or about $300 and see if you can make a return on your investment. Price per click sometimes some words are worth more. Look for quality not quantity.