Fundamentals of Paid Search Advertising by Jake Hoopes

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Smx West 2014 Session #Smx #21B - Keeping Your Edge Sharp: Revisiting Fundamentals Of Paid Searchpresentation Fundamentals Of Paid Search Advertising By Jake Hoopes @Jacobhoopes Of Showroom Logic

Smx West 2014 Session #Smx #21B - Keeping Your Edge Sharp: Revisiting Fundamentals Of Paid Searchpresentation Fundamentals Of Paid Search Advertising By Jake Hoopes @Jacobhoopes Of Showroom Logic

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  • 1. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Keeping Your Edges Sharp: Revisiting Fundamentals Of Paid Search “Lessons Learned in Sochi” by Jake Hoopes Director of Online Marketing – ShowroomLogic.com
  • 2. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Lessons Learned in Sochi • The big don’t beat the small, the fast beat the slow • Spot your landing • Work on what matters most • Be relentless
  • 3. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing • Know where you are in relation to your market • How and when does your business make money? • Who are your customers? • What are your primary sales cycles? • What’s your lifetime value of a customer?
  • 4. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing • Trends & Microtrends • Hourly, Daily, Weekly, Monthly, Quarterly, Annual • Current events • Tectonic market shifts
  • 5. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing *Tactical Tip: www.google.com/trends/ • Other seasonal factors? • tax season • summer vacation • holidays • sports seasons • back-to-school • weather • other trends?
  • 6. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing *Tactical Tip: Google Day Parting Your Ads
  • 7. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing *Tactical Tip: Bing Day Parting Your Ads
  • 8. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing • Know where you want to end up •Create clear and measurable actions –Sales, Leads, Inbound Phone Calls –Secondary goals/actions •Ask good questions –“What do I want to achieve?” vs. – “What do I want to learn?” –Does my CPA vary by time of day? Day of week? By device? By ad position?
  • 9. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing *Tactical Tip: use Segments & Dimensions
  • 10. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing Segmented by Device
  • 11. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Spot your landing Bing Dimensions
  • 12. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Work on what matters most Look for Leverage Conversion Action Sales Leads Phone Call Secondary Visitor Behavior Impression Share * CTR % = Visitors Impression Share Available Impressions
  • 13. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Work on what matters most Baseline Impressions 100,000 CTR 1.5% Clicks 1,500 CPC $2.14 Total Spend $3,210.00 Conv. Rate 5.5% Conversions/Sales 82.50 Avg Value/ Conv. $75 Gross Sales $6,187.50 Gross Margin $2,977.50 Net Change na
  • 14. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Work on what matters most Baseline Scenario 1 Impressions 100,000 100,000 CTR 1.5% 1.0% Clicks 1,500 950 CPC $2.14 $2.27 Total Spend $3,210.00 $2,156.50 Conv. Rate 5.5% 8.5% Conversions/Sales 82.50 80.75 Avg Value/ Conv. $75 $75 Gross Sales $6,187.50 $6,056.25 Gross Margin $2,977.50 $3,899.75 Net Change na $922.25
  • 15. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Work on what matters most *Tactical Tip: Check out your impression share
  • 16. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Work on what matters most Baseline Scenario 1 Scenario 2 Impressions 100,000 100,000 125,000 CTR 1.5% 1.0% 1.5% Clicks 1,500 950 1,875 CPC $2.14 $2.27 $2.04 Total Spend $3,210.00 $2,156.50 $3,825.00 Conv. Rate 5.5% 8.5% 5.5% Conversions/Sales 82.50 80.75 103.13 Avg Value/ Conv. $75 $75 $75 Gross Sales $6,187.50 $6,056.25 $7,734.38 Gross Margin $2,977.50 $3,899.75 $3,909.38 Net Change na $922.25 $931.88
  • 17. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Work on what matters most Give me a lever long enough and a fulcrum upon which to place it and I shall move the world. -Archimedes
  • 18. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Be relentless –Anticipate the organizational resistance you’ll encounter •Big companies – lack of control •Small companies – spread too thin •Agencies – implementation constraints
  • 19. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Be relentless – Break everything into small, bite-sized pieces •Define goals, tests, and resources in specific terms – “I want to test the messaging on our landing pages” Vs. – “I want to test [Headline B] against our current headline for a 7-day period because based on the ad performance data from last month this verbiage seems to resonate with our clients” •Define desired outcome: justify why to you want to take this action – Results: “to increase conversion rate” – Learnings: “to learn which message to reinforce throughout the shopping cart experience”
  • 20. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Be relentless When the only tool you know how to use is a hammer...suddenly all your problems start looking a lot like nails. • Get militant about gaining new tools & skills • Design, UI/UX, markup • Testing platforms • Writing copy • Client side and server side scripting • Advanced ValueTrack tagging • Google Scripts
  • 21. linkedin.com/in/jakehoopes#SMX@ShowroomLogic Be relentless * Tactical Tip: Google Adwords Scripts
  • 22. linkedin.com/in/jakehoopes#SMX@ShowroomLogic What’s the #1 Lesson Learned from Sochi? The Big Don’t Beat the Small, The Fast Will Beat the Slow.
  • 23. linkedin.com/in/jakehoopes#SMX@ShowroomLogic What’s the #1 Lesson Learned from Sochi? The Big Don’t Beat the Small, The Fast Will Beat the Slow.