If you’re like most business owners, entrepreneurs, or humans in general, the last thing you set out to do each day is throw your money away on purpose. This might seem obvious, but the truth is: if you don’t have a good advertising strategy in place, you could be doing just that. Below, we share our top 3 tips for saving money on your advertising!
As much as you may wish it weren’t true, the reality is that most consumers are unlikely to purchase from you the first time they visit your website.
There are lots of reasons that this can happen. For example, maybe your customer got an important phone call? Maybe they were distracted by the newest episode of Game of Thrones? Or perhaps they got caught out by their boss for wasting time surfing the Web at work? You never know!
The good news however, is that you can use a very clever tool to re-target those customers once they’ve left your site. This is called ‘remarketing’, and works by popping your ads onto websites that your missed customers are browsing.
Research from GE Capital Retail Bank has shown that the average consumer will visit at least 3 online stores before making their purchase – so you want to make sure your business stays in their minds when they’re looking at competitors. Make sure you utilise remarketing to avoid missing out on customers!
Image from Minewhat.com
Focus on new keywords
One of the top things you can do to save money on your PPC advertising, is to focus on new keywords. For example, let’s say that you have a shoe business in Fortitude Valley Brisbane, that specialises in selling Diana Ferrari shoes. If you aren’t currently getting the traffic and conversion rates you should, it could be that your keywords are too broad (eg. ‘brisbane shoe store). If this is the case, you just need to add some more detailed or long-tail keywords to your AdWords account. An example of a long-tailed keyword for your business might be “Diana Ferrari shoes stockist Fortitude Valley.”
As we’ve discussed in previous posts, there is power in using long-tailed keywords. Namely, that you’ve moved from targeting customers who are still in the ‘research phase’ (where the click is more competitive and costly), to those who are closer to purchasing. As our SponsoredLinX Client Relationship Manager Ian Sorohan explains, doing so means that “you’re not paying a premium to be at position one, because that keyword is simply not as relevant to so many of your competitors.”
In this way, simply adding a few new keywords can make the world of difference to your PPC results!
Adjust your Geolocation settings
When you first begin advertising, it can be easy to think that ‘more exposure is best.’ But in reality, you only want your ads to be reaching your target audience and location. For example, say you run a plumbing business and you regularly service the Brisbane area – you’d be looking for local Brisbane people to contact your business, rather than people in NSW or Northern QLD.
To make sure you’re not wasting money on advertising that’s going out to the wrong audience, you need to adjust your Geolocation Settings. A few key points to remember when doing so, are to:
- Make sure your Geolocation settings are set to reflect your business’ hours of operation
- Be wary of targeting a radius that is too small. This can have negative results on your advertising, because your advert may not meet the target requirements, and therefore may not show up in search results
- Make sure that you target the language of your target audience (eg. English) in your location settings
Are you overspending on advertising and not seeing the results you should? Make sure you give SponsoredLinX Advertising team a call today on 1300 859 600!