Every online business has heard about the term PPC (Pay Per Click) advertising! It is the way brands can expect a favorable ROI. You need to decide whether your company is prepared to opt-in for this advertising. And once you decide on that, there’s yet another essential question that brands need to decipher. It is the about the budget should they fix on for PPC advertising.
Do you resonate with this question? If yes, then your budget estimation will depend on the assumptions and projections. You can take the necessary assistance from a professional service provider. To know more, you can check out Clicks Geek. Also, you can consider the three factors discussed below, to get your PPC budget correct.
1. Make a competitor analysis
Do you know how much other market players are spending on their PPC ads? Are you aware of the keywords they are targeting? If you want to know this, resort to services like SEMrush and SpyFu. It will help you to get connected to the URL of other market players. This way, you can also assess the Google AdWords activity of additional market players. You can add-on their expected monthly expenditure, ads, and target keywords.
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The objective here is to assess at least five market players to get a favorable baseline for the average expenditure. From here you can shortlist three and then two competitors that are bidding on keywords the same as yours. It will help you to decide on the PPC budget.
2. Consider your present marketing plan
Paid advertising is essential when other marketing methods don’t suffice in attaining the revenue goal. Also, the paid ads are helpful is covering up for the SEO limitations. It also helps to make up for other shortcomings in social media marketing as well as email marketing. It can also cover up for the limitations of any marketing form that can cater to generate leads for your online business.
Are you aware of the marketing assets that are presently getting the ideal outcomes? If you want to know this, you can consider the way email, SEO and various other marketing methods perform and offer a compact marketing strategy. For instance, your social media, email marketing, and SEO strategies can garner as much as 75% of the revenue goal. In such a situation, you will know that your PPC should be able to cover the remaining 25% of revenue. Hence, rather than generating about a million revenue, your PPC can concentrate on creating about $250,000 in revenue.
3. Consider your keyword research
You have to ask yourself a fundamental question – Does the keyword that you are bidding record a high search volume? Does it also have a low CPC (Cost Per Click) to attain your business goals within your budget capacity?
Today, you can come across several keyword research tools for this. But one of the best tools to use is Google AdWords, as it is free. Also, Google AdWords is wholly reliable and can offer estimates for the expected CPC and the average monthly searches.
There are many ways to decide about the ideal PPC budget. However, to start with, you can consider these three factors and keep on assessing others if you want to. Do it under the guidance of your SEO service provider to avert mistakes.