How To Take the Headache Out Of Your Google AdWords Budget.

Google & AdWords
by Ashley

You might be asking yourself the following questions:

• What is Google AdWords?
• How do I set up an AdWords Account?
• What should my daily budget be?

Sound familiar? No worries, at TaigMarks we have you covered.

Industry & Target Audience Matters

First, let’s back up and take a look at your industry also known as your “target audience”. Do you have several or very few competitors? Does your industry really need AdWords or does it need better SEO Content? Identifying your competitive industry landscape is important before throwing money at a digital marketing agency to run your Ad’s or a marketing consultant. An ad platform like AdWords might help your company benefit in direct sales or lead generation – but might benefit from investing in competitive research with a branding or marketing agency first.

Recently, one of our clients needed to reach a particular audience using AdWords but wasn’t sure just how much to spend. One of our first questions (of several) was to find out exactly where our client’s pain points were in selling their products. Questions like, “how many products do you want to sell a day?” from this question to the next…and the next.. and the next.

So when thinking about turning the keys over to the right marketing or digital agency for AdWords account management, make sure they are asking the right questions. Those questions might seem time-consuming but the pay off in the end will be worth it. This way, you’re working with a digital agency or marketing consultant that cares about your end goal and is going to take every imaginable step along the way to optimize your ads for best performance.

Promoting your product or service online can be hard because competition can be fierce. You might be trying hard to sell your brand of watches but Fossil has been around for years and likely has a leg up when it comes to budgeting. Unfortunately, there are never guarantees when it comes to conversion rates and user behavior when utilizing PPC Marketing. That normally comes down to how much your product value is compared to your competitors. But there are ways to make sure your product is reaching the right target audience within your budget by using the following tips:

Content. Content. Content.

Make sure your content is engaging and if you have a unique offer that it’s included in your headlines!

Types of Ads.

Don’t be nervous about testing multiple types of ads. Do you have the ability to sell your product online? Be sure to check out Google Shopping (Google Merchant Center) and then explore the type of ads you can run on this network too.  All ads should have compelling and trending content.

Keywords

…and not just any keywords, groomed and examined keywords. Take your time here. Make sure you’re testing your keywords against “phrase” and “exact match” keywords too.

Facebook Ads or Google Ads?

We get questions from time to time about Google Ads (formerly known as Google Adwords) compared to other channels like Facebook Ads (AKA Facebook Ads Manager). For example:

• Facebook Ads has its own algorithms set to something called “look-a-like” audiences.
• Google Ads allows flexibility to control who sees your ad and allows for keyword adjustment. It also holds more valuable data.

While Facebook might be good at how they “show” your video ad and control who views it, you won’t see all the data details like you would in Google Ads.

Budgeting

For AdWords budgeting can be tricky if you haven’t done it before. You’re basically taking a wild guess. We work hard to take the guesswork out of the equation and do research to find out exactly how much you should be spending. Research shows that based on your industry you should aim to spend the following amounts

Retail Industry

Low Daily Budget: $77
Recommended Daily Budget: $290
High Daily Budget: $720

Business & Industrial

Low Daily Budget: $117
Recommended Daily Budget: $290
High Daily Budget: $720

Healthcare Industry

Low Daily  Budget: $137
Recommended Daily Budget: $303
High Daily Budget: $910

“I heard Facebook Ads are easier and cheaper, why should I use Google Ads over Facebook Ads?”

Facebook might seem easier to use and has set up their own algorithms. It also figures out the target audience for you. Depending on the type of ad you want to run, Facebook might be the better choice and an easier sell. However, Google Ads do not work the same way. Adwords works more like an auction and most digital marketing agencies and marketing consultants know this, but the average Joe doesn’t.

Envision if you will, an auctioneer rambling the price on a horse trough from the 1700’s. This product (also likely an antique) believe it or not holds a lot of value. Let’s assume it was used by settlers in pioneer times in their attic to supply the water to bathe in.  Its value is higher because of its “antiqueness” and the auctioneer knows it. The cost to purchase this fine item is going to be competitive. This is similar to how Google works except the trough in this case, is your highly valuable product, and instead of the buyers in the front row at the auction you need to be on page 1 of Google for your ad to beat out the competition.

“Well that’s going to be way too expensive,” you say. Well, there are tricks to beating out that competition and that comes down to optimizing your ads (similar to grooming them). The more “unique” your product is, the more clicks it will likely receive. So ask yourself.. Do you have a 14k gold horse trough or just a plain metal horse trough? Do you offer free shipping on your valuable product? Or do you have a special warranty that no other can beat? Likely your budget will come down to how you’re optimizing your ads and how it stands out amongst your competitors. AdWords can only take you so far when it comes to your product uniqueness. This brings us to the next big chore for grooming your ads and that is the “keywords” around your competing product. If “Horse Troughs” is a hot item in the summertime and competition trends show that increasing your budget would be a wise choice then depending on the industry and if your product is seasonal or not, will drive your keyword choices.

As you can see, there is a lot more than maybe one person in your organization can handle when it comes to managing Google Ads and your spend. Remember that what you invest in when it comes to budgeting for ads (as a whole) has a lot more to do with picking the right strategy, ad platform, and the right digital marketing agency you’re using.

Have more questions about CPC, PPC, and Budgeting?

We can help. Contact us and we’ll walk you through it.

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