OOGLE ADWORDS and
Yahoo Advertising are the current darlings
of Internet advertising and with
good reason: They are almost instantaneous;
they get the message in front of
prospects at the time the prospect is
looking for the product or service; and
their effectiveness can be tracked!
If you are thinking about giving
pay-per-click a try, here’s the skinny
on setting up a successful campaign.
You will get the best results if you
know where you stand in terms of
Web site traffic and conversion rate
(number of leads or orders as a percent
of visitors to a site). To get this
information you need a “Web logs
analysis” report.
Your hosting company should provide
this as part of your hosting service.
Find the number of visitors (not
hits) coming to your site during a
given period of time. You will also
need to find out the number of leads
or sales made from your site during
the same period of time.
To find the conversion rate go to
the calculator at
www.markneting.com/calculator.asp.
Select “conversion rate” on the dropdown
menu and enter your number of
visitors and leads or sales as prompted.
Click calculate and you will have
your conversion rate.
For even better conversion statistics,
invest in a tracking tool or service. A
tracking tool tracks the source of any
lead right back to the referring search
engine or site and it calculates information
such as conversion rates. It
sometimes can tell if multiple visits
were made before an action (lead or
sale) was made.
Assuming that you are advertising
in order to get leads or sales, the conversion
rate from your site will help
you to determine what your target
average cost per click should be. Your
cost per lead or sale from the site is
basically the number of visitors you
have to bring to the site in order to
generate that lead or sale, multiplied
by the cost to bring each visitor.
So, if your conversion rate is 1 per-cent, you need to bring 100 visitors to
your site in order to get one lead or
sale. If you are paying an average of
$.45 per visitor to your site, you will
be paying 100 x $.45 = $45 per lead or
sale. However, if your conversion rate
is 2 percent, you only need to bring
50 visitors in order to generate a lead
or sale and your cost will be 50 x $.45
= $22.50.
Setting the goal
Knowing the conversion rate of the
Web site and your target cost per lead
or sale, you can determine your target
average bid for your pay-per-click
campaign. You can use the same calculator
as above, but select “pay per
click goal” from the drop down menu
and enter the cost per new customer
(or lead) goal and the conversion rate
at the prompts. Click calculate and
you will get your average cost per
click goal.
Now that you have goals set, you
can think about the keywords you will
want to bid on and the copy for the
listings. We will not go into detail
about how to select keywords at this
point, but rather discuss concepts
about keyword selection.
Yahoo and AdWords are by far the
most productive pay-per-click listing
engines. Each has keyword selection
tools that are helpful for determining
which keywords should be chosen.
There are some basic strategies for
selecting the best keywords for your
purposes. When searching on the
Internet, people are very direct, so
don’t rely on euphemisms or insider
jargon for your keywords. Include
those terms that the public you are
trying to reach will use when trying
to find the product or service you
offer.
The road less traveled may be a
good strategy if you have a small
budget and are in a competitive marketplace.
There are keyword selection
tools available that help you to find
the holes in general bidding strategies.
One example is to stake out common
misspellings. Can’t afford to bid on
the term “phonics?” Try “phonix.”
(The people who find your ad could
probably use your service.)
If your pay-per-click goal is ample
to cover the most costly keywords that
you will want to bid on, then go for
the top two positions in your best keywords.
We have found that there is some
benefit to being lower in the bidding
rank, however — even eighth or ninth
position. For example, Powdered
Technology Inc. provides all kinds of
materials in powdered form including
“glass beads.” The average searcher
for glass beads is not looking for a
powdered form, but by bidding the
term farther down the list, the site has
been found by persistent searchers
looking for micro glass bead for
industrial applications.
We use a spreadsheet with our estimate
of click-through and planned
bids to plan the budget for Yahoo bidding.
It is more difficult to plan the
budget for Google, because the keyword
estimation tool is not very accurate,
at least not in our experience.
Google and Yahoo allow you to set
daily budgets, which helps to avoid
runaway costs.
Both Google and Yahoo provide
free tracking of the “conversions,”
whether they are leads or sales. You
define what a conversion is, whether it
is filling out a form or making a purchase.
If phone contact is made, you
will need to ask if the call was made
from the Web site or provide a unique
phone number for Web site contact.
Phone contacts cannot be followed
with the Google and Yahoo tracking
tools. These tracking tools will report
by keyword the results you are getting
from the campaign, which allows you
to experiment with listing copy and
bids and follow the results in real
time.
You might want to try other payper-
click versions for various reasons.
Listing of most general pay-per-click
engines along with ratings and
reviews can be found at www.payperclickguru.
com.
[contact]
Miki Dzugan is
founder of Rapport
Online Inc., an online
marketing firm in St. Paul:
651.224.2277; mdzugan@roiweb.
com; www.roi-web.com
Yahoo Advertising are the current darlings
of Internet advertising and with
good reason: They are almost instantaneous;
they get the message in front of
prospects at the time the prospect is
looking for the product or service; and
their effectiveness can be tracked!
If you are thinking about giving
pay-per-click a try, here’s the skinny
on setting up a successful campaign.
You will get the best results if you
know where you stand in terms of
Web site traffic and conversion rate
(number of leads or orders as a percent
of visitors to a site). To get this
information you need a “Web logs
analysis” report.
Your hosting company should provide
this as part of your hosting service.
Find the number of visitors (not
hits) coming to your site during a
given period of time. You will also
need to find out the number of leads
or sales made from your site during
the same period of time.
To find the conversion rate go to
the calculator at
www.markneting.com/calculator.asp.
Select “conversion rate” on the dropdown
menu and enter your number of
visitors and leads or sales as prompted.
Click calculate and you will have
your conversion rate.
For even better conversion statistics,
invest in a tracking tool or service. A
tracking tool tracks the source of any
lead right back to the referring search
engine or site and it calculates information
such as conversion rates. It
sometimes can tell if multiple visits
were made before an action (lead or
sale) was made.
Assuming that you are advertising
in order to get leads or sales, the conversion
rate from your site will help
you to determine what your target
average cost per click should be. Your
cost per lead or sale from the site is
basically the number of visitors you
have to bring to the site in order to
generate that lead or sale, multiplied
by the cost to bring each visitor.
So, if your conversion rate is 1 per-cent, you need to bring 100 visitors to
your site in order to get one lead or
sale. If you are paying an average of
$.45 per visitor to your site, you will
be paying 100 x $.45 = $45 per lead or
sale. However, if your conversion rate
is 2 percent, you only need to bring
50 visitors in order to generate a lead
or sale and your cost will be 50 x $.45
= $22.50.
Setting the goal
Knowing the conversion rate of the
Web site and your target cost per lead
or sale, you can determine your target
average bid for your pay-per-click
campaign. You can use the same calculator
as above, but select “pay per
click goal” from the drop down menu
and enter the cost per new customer
(or lead) goal and the conversion rate
at the prompts. Click calculate and
you will get your average cost per
click goal.
Now that you have goals set, you
can think about the keywords you will
want to bid on and the copy for the
listings. We will not go into detail
about how to select keywords at this
point, but rather discuss concepts
about keyword selection.
Yahoo and AdWords are by far the
most productive pay-per-click listing
engines. Each has keyword selection
tools that are helpful for determining
which keywords should be chosen.
There are some basic strategies for
selecting the best keywords for your
purposes. When searching on the
Internet, people are very direct, so
don’t rely on euphemisms or insider
jargon for your keywords. Include
those terms that the public you are
trying to reach will use when trying
to find the product or service you
offer.
The road less traveled may be a
good strategy if you have a small
budget and are in a competitive marketplace.
There are keyword selection
tools available that help you to find
the holes in general bidding strategies.
One example is to stake out common
misspellings. Can’t afford to bid on
the term “phonics?” Try “phonix.”
(The people who find your ad could
probably use your service.)
If your pay-per-click goal is ample
to cover the most costly keywords that
you will want to bid on, then go for
the top two positions in your best keywords.
We have found that there is some
benefit to being lower in the bidding
rank, however — even eighth or ninth
position. For example, Powdered
Technology Inc. provides all kinds of
materials in powdered form including
“glass beads.” The average searcher
for glass beads is not looking for a
powdered form, but by bidding the
term farther down the list, the site has
been found by persistent searchers
looking for micro glass bead for
industrial applications.
We use a spreadsheet with our estimate
of click-through and planned
bids to plan the budget for Yahoo bidding.
It is more difficult to plan the
budget for Google, because the keyword
estimation tool is not very accurate,
at least not in our experience.
Google and Yahoo allow you to set
daily budgets, which helps to avoid
runaway costs.
Both Google and Yahoo provide
free tracking of the “conversions,”
whether they are leads or sales. You
define what a conversion is, whether it
is filling out a form or making a purchase.
If phone contact is made, you
will need to ask if the call was made
from the Web site or provide a unique
phone number for Web site contact.
Phone contacts cannot be followed
with the Google and Yahoo tracking
tools. These tracking tools will report
by keyword the results you are getting
from the campaign, which allows you
to experiment with listing copy and
bids and follow the results in real
time.
You might want to try other payper-
click versions for various reasons.
Listing of most general pay-per-click
engines along with ratings and
reviews can be found at www.payperclickguru.
com.
[contact]
Miki Dzugan is
founder of Rapport
Online Inc., an online
marketing firm in St. Paul:
651.224.2277; mdzugan@roiweb.
com; www.roi-web.com
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