The topic of paid advertising seems to be slightly divisive among some people. For some marketers, it is something they love, something they can invest in and be fairly certain of making money in return.
Some others that I know do not like it at all. Reasons vary, but some of them simply disagree with it conceptually, finding it aggressive or unpleasant.
I think that most people fall somewhere in the middle, figuring that they will do what they need to do to find success.
How do you know if paid marketing is right for you and your business? To start, you can consider some of the points below.
Do You Have a High Customer Value?
The first P in PPC is “Paid”. The very name tells you that this will cost money.
Some marketing channels work simply through time and effort. Quality content and leaving comments on other blogs are good examples of this. When you must pay money however, you should be examining your customer value and whether the cost of acquisition makes sense.
If you find that your customer value is only around $20, and they stay with you for 5 months, that gives you a value of only $100. In such circumstances, you likely would not be successful at all with paid advertising.
Are your Buyer Keywords High Volume/ Low Competition?
There are still many niches that have not begun to make full use of online shopping. As a result, you will find that buyer keywords in those niches have very low volume.
Sometimes, competition may be listed as high, but if there is a decent search volume and relatively low suggested bid, PPC may work well. If you can find a keyword that has both high search volume and low competition, you have a real winner. This is the question to ask yourself, then: is your niche high volume/ low competition?
Are you Looking for Something Scalable and Trackable?
If you are using Google Ads, it will tell you precisely how much you are spending, and the number of conversions that came from it. If you already know the value of each signup, then it will be clear to you if you can begin to scale up your campaign.
Putting more money into your campaign will let you see an impact in terms of impressions and the cost per conversion, so if you need to be able to track your results, this could be a very good option.
Some Reasons to Choose PPC
- There are actually a number of very good reasons to choose PPC ads:
- On average, businesses make $2 of income for every $1 spent
- An average of 41% of clicks go to the top 3 paid ads on SERP
- For searches made by those with intent to purchase, 65% go to paid ads
- PPC visitors are 50% more likely to make a purchase than other visitors
- Search ads can increase brand awareness by 80%
These are just a few reasons for you to consider paid advertising, though there are others. It can be hard to say definitively if it is something that would work in your particular case, but if you find yourself agreeing with the points above, it is definitely something to look into and consider.
About Marwick Marketing
Marwick Internet Marketing is a Premier Google Partner Agency specializing in Search Marketing (SEO, PPC & CRO). With offices in Vancouver, Victoria and Squamish, Canada.