Small budget? Get the most from your Pay Per Click advertising
At a time when small businesses are feeling the pinch and endeavoring to cut back on marketing spend citing concerns over the economy and carbon tax, many are looking for new cost effective ways to acquire customers and qualified traffic.
Pay-per-click advertising (PPC) allows you to put your business in front of potential customers when they search for what you sell. The program works by allowing you to create an advertorial to appear in search results.
This Search Engine Marketing (SEM) opportunity is easy to implement and use. Simply choose the keywords related to the products or services your business sells. Then write a text ad to promote your business in search results. The two leading PPC platforms are Yahoo! Search Marketing and Google AdWords. This marketing channel can be incredibly successful if optimised to get the most out of a limited budget with a decent return on investment (ROI).
It is up to the advertiser to decide the maximum amount you want to pay each time your ad is clicked. Keeping in mind, potential customers search for what you sell. When a searcher types one of your keywords into a Yahoo! search box, your ad appears. Your maximum cost-per-click (bid) and ad quality determine where your ad is displayed in search results.
Unlike display advertising, you pay only when your ad is clicked in search results—not every time it is displayed. Remembering, the amount you pay is based on the maximum cost-per-click you specified.
According to Claire Seldon, Sales Director of Marketplaces, Yahoo!7, “Yahoo! Search Marketing allows small and medium sized businesses in Australia to maximise their search marketing activities by ensuring they are present across all the major search engines, including Yahoo!7 and Bing.”
As online business becomes more and more niche oriented, many clients of pay-per-click programs want the option to advertise only to local customers. Local businesses also can take advantage of a locator page, which gives potential local clients a business address, a map to the office,
Yahoo! Search Marketing is trailing behind Google AdWords program, we are all aware about that. However, this is exactly the reason why you should try it- few competition, lesser bid fees and a higher conversion. Ms Seldon confirms “Yahoo! Search Marketing achieves highly competitive Cost Per Click (CPC) costs across its network, when compared with other major search engines, allowing effective campaigns that drive strong return on investment for advertisers.”
It is important to note that the average CPC can differ up to 90% between search engines, depending on industry of course. For example in the Finance industry in Google AdWords the average CPC* is $18.28 whilst in Yahoo! Search Marketing the average CPC is $4.89. In the retail industry Google AdWords average CPC* is $4.80 whilst Yahoo! Search Marketing CPC averages at $0.68, an 86% saving. You can find out the average CPC for your industry using the AdWords Keyword Estimator.
Online marketers/advertisers who want to test out new markets and introduce their products are slowly turning Yahoo! PPC into their new hotspot because of its affordability. Let’s find out what all you should keep in mind while working with PPC.
Benefit from your precious click-through-rate (CTR) data: The previous click through trends are utilised to determine the quality of your ad, even though it is definitely not the sole determining gauge of search engines like Yahoo! when studying your ad.
Therefore, it means that sometimes you have to be more patient when building your campaign to get a favourable ROI with PPC. The trails of successful campaigns that you may have experience in the past may be exceeded by your possible victories with PPC.
If you’re aiming for a flourishing PPC campaign, aim on the niche areas that need improvement and don’t forget to upgrade the quality of your ads. Bear in mind that the important output of PPC advertising are the results – if you are able to attain a good ROI from impressive results, then you can call for a celebration.
* Source: Average CPC rates were sourced from Google AdWords Keyword estimator tool.