One common question business owners ask when considering a PPC campaign is: “how do I know if Google ads will work for my business?”
We could simply say yes, but it’s not as simple as that.
We answer that question in this post by walking you through the various steps you should take to identify if Google Ads are a good fit for your business.
Google is the most popular search engine, connecting businesses with people looking for a product/service.
Here are the four critical steps you should take to determine whether Google Ads are good for your business.
Step 1 – Assess Your Budget, Offering and Time Constraints
A huge hurdle facing businesses using Google Ads is budget.
Can I afford this? Will I be wasting my money?
This can be traced back to loss aversion theory – we would rather keep our money safe than risking it for equal gains.
But Google Ads can offer some stellar results, and you can expect to see your ROI doubling.
Assess your budget
Begin your research by assessing the average CPC (cost per click) in your industry and benchmarking that with conversion rates.
This will tell you how much you would end up sending in any given month and what kind of returns to expect.
Let’s say the CPC is $1.38 and the CVR is 2.77%. This means you would need 36 clicks to get one conversion. That would cost $50 to generate one conversion.
Understand the time constraints
It’s time to identify how much time you have on hand. Do you have a team that can handle your Google Ads account? Can you outsource it cost-effectively?
Managing Google Ads is a time-intensive task. Assess the amount of time you have to manage ad campaigns. Don’t forget to account for a few hours every week you must spend on maintaining your campaigns.
Are your products/services right for Google Ads?
Now, it’s time to determine if your offering is ideal for Google Ads. Is your product/service easy to sell online? Is it a product that sells better with photos? Is it virtual software?
Although the Google Ads platform is a good fit for most products – there are many other platforms you can consider including Instagram, Facebook, Twitter, Bing and LinkedIn among others.
Step 2 – Identify the Traffic Potential by Doing Keyword Research
As mentioned before, you must set aside time to manage Google Ads. It can take a few weeks to get your account ready for success, not to forget the daily and weekly chores such as adjusting budgets, creating new ads, testing new designs, adding negative keywords and scouting new keywords.
One way to find out if Google Ads will work for your business is to carry out keyword research. With keyword research, you can see how many people search for your product and determine whether it will be worth your while.
If, for instance, only 15 people search for your keyword each month, the time and effort that you need to put in may not be worth it.
However, if the search volume is high, it means that people are actively searching for your products/services.
Step 3 – Do Competitor Search
Competitor research is a wonderful way to discover if your competitors are creating ads for your target keywords.
If competing businesses are bidding on those search terms, they are likely generating some revenue. By doing nothing, you are simp0ly letting them reap dividends without giving a friendly competition. And that’s one mistake you might regret.
Moreover, competitor research will provide some insightful data about how much a business is spending on Google Ads.
This will give you a good idea about the kind of budget you will need.
Start by visiting Google. Look up your target keywords to see if any ads are running currently, to find out if any of your direct competitors are active.
If you do find any competitors bidding for terms you are interested in, head over to SpyFu. Simply enter your competitor’s URL and you will get a detailed report on their keywords, their monthly sp0end and their ad copies.
This nifty little tool will help you discover the keywords your competitors are bidding for. The information about budget will give you an idea of how much you must spend to compete with them.
Step 4 – Find a Network that’s Right for Your Business
According to the Economic Impact Report by Google, marketers on Google Ads generate about $2 for each $1 they spent.
With Google Ads, you can expect to double your investment.
But how does the Google Ads platform manage to deliver such a high ROI?
That’s perhaps because the Google Ads platform offers countless advertising options. From audience customisation and different targeting to retargeting and multiple ad types, Google Ads offer something for every type of business to help boost their sales.
Looking to expand your lead generation strategy? Need something to complement your email marketing efforts?
Google has you covered with Gmail ad campaigns.
Perhaps you have a virtual product and you want to offer a product demo? Consider opting for TrueView ads in Google Ads!
The point is that Google Ads offer an an array of methods, ways and mediums for you to choose from. Whether you want to do A/B testing, explore various ad options or want to find something that suits your budget, Google Ads offer something for every type of business.
Start with a small budget and test the platform. Run multiple ad campaigns and look at the kind of results you are able to generate.
That’s the only way to see how well Google Ads work for your business.
Google Ads are an excellent way to generate traffic, leads and revenue for any business. But knowing if the platform is the right fit for your business isn’t simple.
Follow this 4-step approach to find the answers.
Start small and test the waters. After all, you’ve got nothing to lose. In fact, you only have everything to gain.
Need help setting up a stellar Google Ads campaign? Contact us today to discuss your project.
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