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End of Under and Over Spending SMX.pptx
The document discusses strategies for improving PPC campaign performance, emphasizing the importance of aligning budgets with campaign structures to avoid wasted spend. It highlights various factors that can affect budget utilization, such as impression share, device segmentation, and proper targeting practices. Additionally, it includes a case study showcasing how effective budget management and strategic adjustments led to significant increases in conversions and lower acquisition costs.
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End of Under and Over Spending SMX.pptx
- 1. | @navahf SMX End OfUnder & Overspending In PPC Campaigns By: Navah Hopkins
- 2. | @navahf SMX I ama bounty hunter of happiness and profit (& a Star Wars nerd)
- 3. | @navahf SMX • Amfocused on the business metrics of my stakeholders (clients). • Know when to invest and when to hold back. • Live for the thrill of winning for my stakeholders. This means I:
- 4. | @navahf SMX Talking Moneyis Hard – Talking Profit is Easy
- 5. | @navahf SMX By theend of this session, each of you will have the tools to be a fellow bounty hunter of happiness and profit
- 6. | @navahf SMX What We’llBe Covering ➔ Baseline/Questions to Ask ➔ Poor Performance Caused by Lack of Budget ➔ Can’t Spend the Budget ➔ Account is Winning ➔ Casestudy Navah Hopkins CEO
- 7.
- 8. | @navahf SMX Before WeCan Begin Hunting, We Need to Do Some Reconnaissance
- 9. | @navahf SMX Are AllParts of the Business Equal, or Are Some Worth More?
- 10. | @navahf SMX Are ThereHubs of High-Value Customers, or Are They Truly Spread Out?
- 11. | @navahf SMX Are Phoneand Website Leads Equal? Do Conversion Rates and Auction Prices Align?
- 12. | @navahf SMX • ImpressionShare • Auction Price • Conversion Rate/Value Three Trails Good Hunters Follow:
- 13. | @navahf SMX Most AdvertisersStruggle to Achieve 50%+ of Available Impressions Based on 2973 accounts with at least $.01 in search spend Average impression share is 47%
- 14. | @navahf SMX Search AuctionPrices Vary by Industry – Don’t Bring A Blaster To A Lightsaber Duel
- 15. | @navahf SMX If YouKnow You Have An Easier Time Winning on Mobile/Desktop, Don’t Be Afraid to Focus There Mobile: 4.39% CTR $34.79 CPA
- 16. | @navahf SMX All DevicesPaint One Picture…Segmenting By Device protects Against False Negatives/Positives North Bay Average CPC: $2.75 North Bay Conversion Rate: 6.9% East Bay Average CPC: $2.57 East Bay Conversion Rate: 9.4% Average CPC: $2.83 8% Conversion Rate vs 3.4% Desktop conversion Rate Average CPC: $2.62 9.2% Conversion Rate vs 12% Desktop Conversion Rate
- 17. | @navahf SMX ✓Location Targets ✓DuplicateKeywords ✓Structure of the Campaign ✓Match-types of keywords ✓Bidding strategies Raising Budget Is A Last Resort – Check the Following First:
- 18. | @navahf SMX Poor PerformanceCaused by Lack of Budget
- 19. | @navahf SMX Wasted Spendis the Enemy
- 20. | @navahf SMX A HintOf Wasted Spend Can Make It Hard To Convince Clients To Open Up Budgets.
- 21. | @navahf SMX A BudgetMisaligned With The Structure It’s Asked To Support Will Always Be Wasted Spend
- 22. | @navahf SMX If YouAsk Google To Deliver on Volume, Don’t Hold It Accountable For Value Based on data from 3200 client accounts in July 2019
- 23. | @navahf SMX Can YourBudget Support 10 “Top Of Page Clicks”?
- 24. | @navahf SMX If Not,Assess if You Can Get The Traffic With Different Search Ideas
- 25. | @navahf SMX Check TheSearch Terms For The Real Heroes! 3% cheaper & perfect conversion rate!
- 26. | @navahf SMX Broad KeywordsCan Drag Your Budget into Unintended Auctions 162% More Than Average “ “ “ “
- 27. | @navahf SMX If they’reall too high, find out if clients can live without that Traffic
- 28. | @navahf SMX • Useextensions to communicate valuable ideas without paying a premium. • Bid adjustments can focus the budget. • Lumping strategic initiatives together can cause all to fail. Not all profit centers are equal:
- 29. | @navahf SMX Daily BudgetsNeeded For AT LEAST One Lead Based on 2022 Average CPC Monthly budget will be 30.4 X daily budget
- 30. | @navahf SMX Starting MicrosoftIs As Easy As Setting Up An Auto- Import
- 31. | @navahf SMX • Betransparent about industry costs and whether budget expectations are realistic. • Offer options that work within the requested budget. • Give realistic timelines for growth When Crafting Marketing Budgets/Assessing Clients:
- 32. | @navahf SMX Can’t Spendthe Budget
- 33. | @navahf SMX It canbe intimidating to ask for more budget, when you’re struggling to spend existing budget.
- 34. | @navahf SMX Your Campaignis Likely Losing Impression Share to Rank
- 35. | @navahf SMX • Toomany targets • Bids and auction prices not aligned • Search volume isn’t there for “important” keywords Here are the most common culprits:
- 36. | @navahf SMX There’re Only SoMany Signals A Budget Can Accommodate
- 37. | @navahf SMX Targeting 5+Locations Without Bid Adjustments Can Cause Budget Allocation Issues
- 38. | @navahf SMX Different LocationsHave Different Auction Prices, Search Patterns, & Time Zones
- 39. | @navahf SMX Number OfAd Groups Can Also Choke Budgets: 5-7 Is The Golden Ratio! 60% of impressions Budget will only go to “winners” instead of everything
- 40. | @navahf SMX Mixing StrategicObjectives Will Cause Budget Allocation Issues Competitor terms at least $2 more per click
- 41. | @navahf SMX Bid ToBudget Ratio Is Only Part Of The Equation: If The Bids Are Too Low, You Won’t Even Enter The Auction
- 42. | @navahf SMX While itis true Google can up to double your budget, you can’t bank on it delivering premium volume if you’re consistently under bidding
- 43. | @navahf SMX Search volumeis an important mechanic in account health
- 44. | @navahf SMX Google’s notgoing to waste its time or your money on pages that lack transactional value
- 45. | @navahf SMX Those PagesMay Be Important To Clients
- 46. | @navahf SMX • Turnimportant low volume keywords into site links/callouts • Make a low budget “experiment” campaign to house these ideas • Ask the client if they’d be open to content marketing being responsible for those ideas. Here are three easy solutions:
- 47. | @navahf SMX Account isWinning
- 48. | @navahf SMX Congratulations! You’vevanquished your enemies and achieved profit!
- 49. | @navahf SMX But we’rebounty hunters of profit and happiness…there’s always more to be had
- 50. | @navahf SMX • Canyour client handle more leads or are they at capacity? • Is this seasonal – should we invest now, or hold for next season? • Should the budget go to existing initiatives, or would you rather expand to new platforms/parts of the business? Before we continue:
- 51. | @navahf SMX Scale MeansInvestment – Not Spending For The Sake Of Spending
- 52. | @navahf SMX •Adding ina channel to expand eligible market •Targeting a new location •Adding new services/products Scale Can Take Many Forms:
- 53. | @navahf SMX Important: Neverdump large amounts of money into a winning campaign all at once!
- 54. | @navahf SMX Gradually increasebudget by 10-15% each week over a month
- 55. | @navahf SMX New CampaignsAre Expensive – the first 1-2 months of a campaign will be about data acquisition
- 56.
- 57. | @navahf SMX • $2,700monthly costs • Conversions weren’t tracking properly • Struggling to get enough business to justify keeping staff Before We Found Each Other, Marketing Their Business Was Stressful
- 58. | @navahf SMX Koru K9Had A Pretty Stellar Evolution Benchmark (November 2015) ➔ Spend: $1,295.75(Google Ads) ➔ Impressions: 30,570 ➔ Clicks: 368 ➔ Average CPC: $3.85 ➔ Conversions: 23 ➔ Conversion Rate: 6.25% ➔ CPA: $56.34 Post Optimizations (March 2019) ➔ Spend: $6,100 (Google Ads/Microsoft/Facebook) ➔ Impressions: 59,000 ➔ Clicks: 2,000 ➔ Average CPC: $2.69 ➔ Conversions: 225 ➔ Conversion Rate: 9.6% ➔ CPA: $27.07
- 59. | @navahf SMX • Builttrust by identifying and eliminating wasted spend brought in by broad terms and tangential searches. • Focused budgets by geos served and replicated winning structure across those areas. • Layered in display to educate markets on why their approach to training works. How did we achieve victory?
- 60. | @navahf SMX How KoruK9 Scaled
- 61. | @navahf SMX We ExpandedMarkets + Invested In Proven Ones
- 62. | @navahf SMX Some MarketsReally Struggled – Driving Up Costs
- 63. | @navahf SMX We HadTo Make Some Budget Allocation Choices
- 64. | @navahf SMX Not AllMarkets Deserved “Focus” On High Value Board & Train
- 65. | @navahf SMX We Addedin Educational Display!
- 66. | @navahf SMX Brand LiftIn Branded Impressions up 63% CTR up 7.31%
- 67. | @navahf SMX More CustomersFor High Value Board Train! Inquires went down YOY, but conversion rates went up!
- 68. | @navahf SMX We ChangedHearts & Minds With YouTube! https://youtu.be/NfY381TwmW 4 50% make it to 15 seconds – 18% make it all the way through
- 69. | @navahf SMX • $.04Views • A list we could rekindle with search • Opportunity to correct misinformation YouTube Brought Us:
- 70. | @navahf SMX The LandingPages Had Multiple Numbers – Lost Local Focus
- 71. | @navahf SMX New SiteDoesn’t Force Local Number
- 72. | @navahf SMX We WereAble To Unlock Profit In One Month!
- 73.
- 74. | @navahf SMX Build trust through transparency aboutbudgets and timelines.
- 75. | @navahf SMX Use extensions topromote expensive ideas when your budget cannot.
- 76. | @navahf SMX Honor thybid to budget ratio and conversion rates
- 77. | @navahf SMX Check for alternativeways to achieve expensive traffic, but if the ROI is there, invest!
- 78. | @navahf SMX Acquisition costs godown with increased exposure to brands – Display + YouTube brings the audience!
- 79.