Why You Should Have A Solid Paid Marketing Strategy For Your Business
Everybody knows that SEO can drive a lot of highly targeted traffic, even in the absence of any investment or marketing activity. Nonetheless, SEO requires hard work and a steady investment over months or even years, before being able to dive free organic traffic. When you start a business, you don’t have the time to wait until your SEO efforts pay off. You need instant results, because you have to gain some clients and make some quick profits, in order to help your business thrive. This is what paid marketing can do, and this is also why you can’t afford to ignore it.
When you set up a paid marketing campaign, you can start making sales or getting paying customers the very next minute after your campaign goes live. There’s nothing else that could bring you this kind of results in terms of speed. This makes PPC an excellent way to start earning right off the bat. It is much better than traditional advertising, because it targets potential customers at the right time. All these people who use search engines to find a product or a service to purchase are easy to get as customers. They re already educated about your offering, they need it, and they are currently seeking for the best purchase opportunity.
By putting your website in front of their eyeballs, you can turn them into paying customers almost instantly. This is how you can make as soon as your campaigns are up and running. Of course, you’d still need to have a high quality website and excellent products or services, because otherwise all these people are going to ask for a refund or leave your site before actually making a purchase. User experience is extremely important, so you should pay close attention to your landing pages and to your sales funnels, in order to make sure they are effective.
All these being said, it’s worth mentioning here that paid marketing can also be a way to burn a lot of money. If you don’t do it the right way, you risk to spend your budgets without seeing the expected results. You always need to make sure your bids are profitable, by calculating the profits in various scenarios. The basic idea is to earn more money than you invest. If, for instance, you spend $100 to earn one client, and this client makes you a net profit of $1 or more, you can safely consider your campaign as a profitable one.
Of course you’ll want a higher profit margin. This means you should try to decrease your bids or to increase the conversion rates until you reach your desired level of profitability. If, on the contrary, for your $100 paid marketing expenditure you score sales that bring you $90 in net profit, you are doing nothing else than burning money. This means you should tweak your bids and your keywords until you manage at least to break even.
The beginnings are always tough, as you have to setup and run some test campaigns, in order to see how low you can go with your bids. There are two approaches to this issue, one of them being to start bidding very high amounts, and then lower them to reach your targeted profitability. The other approach is to start with lower bids, increase them until you are no longer profitable, and then settle for a value that secures a good traffic volume and a nice profit rate.
As all these can be tricky to set up, you may want to hire a digital marketing agency to help you develop your paid marketing strategy. Agencies use the best tools of the trade to examine and assess various keywords, so they are able to find the most lucrative ones much faster than business owners without any marketing training or background. If you are keen on doing everything by yourself, you should keep in mind that you may leave money on the table, even in case you manage to score a profit. Split testing of ad copy and landing pages are mandatory tools that help you improve the ROI of your campaigns. If you don’t know how to do this testing the proper way, you may not perform at your best. This is why hiring a professional agency is the best thing to do.
In conclusion, having a solid paid marketing strategy should be one of your top priorities when you start a new business. If you overlook this opportunity to earn clients, you may need to wait for a very long time until becoming profitable. If you don’t have a lot of money to invest, you may not be able to survive, particularly if you operate in a highly competitive market, with strong competitors and picky consumers.
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