What are more affordable marketing efforts for a marketplace than Google Adwords?
I am working with a start up who have recently launched a property portal (marketplace) to rent or buy properties. The problem the company is experiencing is the COCA as all their traffic comes from Google Adwords and this is proving to be too expensive relative to the leads generated. Can anyone advise other marketing techniques the company could use that would generate cheaper leads to the site?
We usually recommend a mix of channels to our clients. Depending on what their KPI is Facebook could work but you need to know how to best use Facebook's tools in order to reach your target audience. Content marketing and re-marketing should also be considered.
Startups have so much on their plate trying to be successful. I totally understand what the issues are and know that most startups don't have the complete information available to make the decisions needed to market their business.
Have you looked at what the competition is doing and reverse engineer the efforts for them?
Perhaps their content is not sufficient to reach their target market.
Do they use social media sites to promote their services?
Full disclosure - My company works with companies and investors to help find those answers and give a complete blueprint on what they need to do to attract buyers and increase their revenue within their budget. If you would like to discuss further let me know.
To maximize your Adwords effectiveness, I suggest adding a retargeting budget as well. This will allow you to market to people who end up visiting. A single engagement (via clicking on a search term) often isn't enough to create a conversion. Using retargeting, you can extend the interaction the visitor had with your brand. Retargeting is also often a fraction of the cost (20% or less).
You may also look at offering other conversion opportunities. For example, get the visitor to sign up for a "10 important tips before you rent/buy a property" by giving up their email address. Or have them sign up for notifications about the type of properties they're interested in. Then you can reengage with that person via email.
Localize their Google positioning in the areas they serve.
Using Google Maps use a video/slideshare video also listed on youtube this will increase their prominence in local searches.
Get them to ask for and increase their positive reviews and links to and from other relevant websites.
You can use a different landing page to compare results.
Hi Clive, Is your client’s Cost of Customer Acquisition concern that the individual lead cost is too high, or that the lead conversion rate is too low? They are two very dissimilar issues and require drastically different approaches to their resolution.
As many have posted, there are a few red flags here.
First, the number you should be looking at is your CPA (Cost per acquisition) or at least Cost per lead. From that perspective there are an endless number of options to get your cost down.
For Adwords – Target long tail keywords for cheaper, less competitive, more targeted ads. Work to get your quality score up - the price of your CPC will go down.
For your landing pages - Use A/B testing to use data to see what offers, call-to-actions, etc will convert more frequently. The higher % of conversions, the cheaper your CPA. I like using Optimizely for this.
Companies like http://www.ppc-essentials.com/ can help with this if you don't time to learn and develop it yourself.
Do some business development, to find opportunities to distribute other than PPC.
For example, find a thought leader/"influencer" in your space and negotiate an endorsement. Sometimes, this can be far more effective in getting the attention of your audience than a simple ad.
Create quality info that is helpful and push it out to networks with distribution streams such as Youtube, LinkedIn, Medium, etc. and/or create press releases.
Google Ad Words is a great way to kick start a website but is not cost effective as a long term strategy. New websites are great but if there is no ongoing on and off page optimization being done it will not be found by potential clients or ranked/indexed by Google's search engines.
If you would like to send me a link to the website I would be happy to run our SEO analysis on your website and provide you with insight and opportunities for improvement. Have your clients considered investing in a monthly ongoing SEO Service?
Honestly while new sites are great and pretty they can be bad for SEO. If you want to be competitive online and be on the first couple pages of Google and do not know SEO which is very complex and continuously changing you need to hire someone to do it. I guarantee the your competition/the companies currently ranking are investing in SEO Services on a regular basic and have made it part of their marketing strategy.
Let me know if you would like an analysis and I can send it out.
Hello Clive, when a new product is launched, of course Adwords is a good way to bring trafic. But relevant links by blogs, media, magazine can also be a great technique.
A good thing about press release is that you get continious trafic & benefits for your SEO.
I can help you on this task. a cheap price you can get is around 400€ for 1 month of press campaign
Clive ...Adwords is always going to be more expensive because you are competing with others who want the same simple keywords because Adwords acts at the end of the buying cycle (funnel).
1.) Consider using longer tail keywords to bring the cost per click down, but you may not get as many click-throughs.
2.) Consider using programmatic (real-time bidding) display advertising with retargeting. This will attract visitors to the top of the funnel. You can use a variety of criteria — demographic, behavior, keywords, geography, predictive-match, contextual — to create a highly targeted campaign.
3.) If your target audience is B2B you can also do account-based marketing. You can target specific titles within specific companies.
4.) If they aren't using social media, they could implement that.
Something is wrong if "all" your client's traffic is from PPC ads. I strongly recommend you look at their website and hire a respectable SEO firm to help. SEO costs should be fairly flat month to month irrespective of traffic.
They will need to broaden their digital marketing efforts as well: retargeting ads, blog posts, banner ads on other high traffic sites, Facebook and Linked In ads, etc.
You might also want to try some behavioral marketing software to further segment your client's customers. A good example is Silverpop. This might cost more now, but will save you money in the future by helping focus on only the tactics that work.
You could try a Tier 2 advertising network (full disclosure: I am an employee with a Tier 2 network). Smaller networks can often target niche networks that Google Adwords might not, and potentially more cost effectively. Tier 1's targets (like Adwords) are often used with Tier 2 companies to help target different clientele and keywords, but at a mix that can be more cost effective. Calls can be beneficial too, depending on the clientele.
If you consider Tier 2, feel free to message me and I can refer you to some more information about Tier 2 networks.
Bing is sometimes cheaper than Adwords. However with all the ad networks i have worked with google is has the best ROI 99% of the time. I am the Co-Founder of PPC Professionals. We would be happy to audit your adwords account to see if there are some ways to improve your return on ad spend. You can request the audit at http://ppcprofessionals.com/ppc-audit-1.html. Or you can contact me directly.
We do email marketing as commercially. If you want email marketing we can do on your behalf also you mention which specific category you want to target. mention country+city+category. Also we can provide you email database for the same, with nominal charges.
In your specific niche, I would go for "content marketing". Just look at Forbes website, scroll down and you will see "Ads By Gravity". Click that and see if that would make sense for you. Than compare to Adwords and see which one has higher ROI for you.
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