6 Ways to Boost Your ROI from Online Marketing
When it comes to business and advertising, there is nothing more important than results. Results determine whether a business is profitable and survives the market, or if it’s not and ends up going broke and closing.
AdWords is Google’s online advertising program and has become a vital part of any modern business advertising strategy. AdWords is an important part no matter if it you’re a local or multinational business.
Online advertising is gradually surpassing conventional advertising for some industries and therefore, search engine marketing is a big deal when it comes to improving your business return on investment (ROI).
Following this premise, let’s examine some of the ways you could use AdWords to boost your advertising ROI.
1) Determine Which Products Are Worth Advertising For
Now, if we pretend you’re running a local business selling computers and accessories, then it would be a good idea to focus your advertising dollar on high gross margin items like high end tablets, laptops, desktops and printers.
You surely don’t want to run ads for low margin accessories such as mouse pads, low priced USB memories, etc.
Once you have a clear idea as to what are your main “bread winning” items, then it’s time to start an in-depth keyword research to come up with all the possible variations for those products. Make sure you cover all variations potential clients will use to search for those products.
2) Make Sure to Use Tracking Tools
Attracting traffic to a campaign and getting lots of clicks is not very hard to do if you choose the right keywords. Of course this will make Google very happy, but a high volume of traffic does not necessarily translate into a boost on your ROI.
The best way to actually measure ROI is to install conversion tracking on your campaign.
By installing and implementing conversion tracking, you’ll be able to “weed out” keywords with high amounts of clicks but no conversions and thus saving hundreds or even thousands of dollars in the process.
Even better, you could invest and bid higher on keywords that have shown actual return on your investment and consequently improve your business overall ROI figures.
Install and Use Call Tracking
In case you’re running a local business that doesn’t have an e-commerce website, perhaps it’s important to you to determine how many phone calls your advertising is generating for your business.
Here we have a couple of options we could use to implement call tracking in order to boost your ROI.
If you’re going to be running two or more separate campaigns with different keyword match types, then you could request different call tracking numbers for each campaign.
The advantage of doing this is that in a matter of 2 to 3 weeks, depending on your campaign’s traffic, you could determine what keywords are being more effective in terms of calls or lead generation for your business.
Well, this is where keyword level call tracking comes in handy.
Use Keyword Level Call Tracking to Spend Your Budget Wisely
Keyword level call tracking just works by assigning a different call tracking number to each of the keywords on the campaign, so you could be able to determine the keywords that are actually providing you with a return on your investment.
Based on that information, you could optimize your campaigns by increasing bids to keywords that bring in a good volume of calls and pausing or deleting keywords that are only resulting in a cost to the campaign.
By using call tracking effectively, you could definitely improve your advertising effectiveness and therefore your ROI.
Install and Make Sure You Use Google Analytics E-commerce Tracking
If you’re campaign has both conversion tracking and Google analytics installed, it would be a great idea to implement e-commerce tracking.
E-commerce tracking is the most precise form of tracking you could have, as it would not only show you what keywords are converting but it would also provide you with the product timeline and revenue you’re getting from actual sales.
By taking a look at your e-commerce data, you could create new ad groups for product that are currently selling well and providing a good return on investment.
3) Target the Right Audience For Your Market
If you were running a surf board store out of Miami Beach with a small budget, it would probably not be a great idea to target the whole of the US with your campaign.
For one thing, you’re not involved on e-commerce, so targeting areas far away from your physical store would be a definite waste of time.
Secondly, you need to consider your daily budget as if it’s already low. You want to make sure you focus on areas that have proven to be more effective in terms of leads and sales.
In this case, it would be ideal for you to target only the local beaches and cities near your store; so potential local clients become aware of your services and generate potential sales for your business.
4) Make Sure You’re Running Only The Best Ads
After you’ve been running a campaign for a couple of months with conversion tracking installed, it’s very likely that you’ve already have a decent amount of valuable data to work with.
As we mentioned previously, it’s a good idea to optimize the campaign based on keywords that are actually providing a solid ROI.
But there is one point most people seem to forget when it comes to optimizing a campaign and that is managing your ad group ads.
If you already have enough data, you could go into each ad group from your campaign and take a look their performance individually.
Here you’ll be able to see which ad has higher amounts of conversions, but don’t fall into that pitfall as you also need to take a look at your ad’s conversion rate number.
Let’s say an ad has been shown on 60% of the time and has a conversion rate of 2.4%. You could think this is pretty good until you realize your other ad has been shown for 40% but has a 5.6% conversion rate.
Here it would be a good idea to pause the first ad and let the second one with a higher conversion rate run as it has shown to be more effective to help you boost your ROI.
5) Use Enhanced Sitelinks to Improve Your Ads And ROI
6) Consider Implementing a Remarketing Campaign
Remarketing could be a great help to increase your AdWords campaigns and your overall ROI.
Basically, remarketing works by implementing a code on every page of your website, and then “legally stalking” people who have previously visited your website.
Let’s say a potential client was about to make a purchase from your website, he had already added a couple of items to his shopping cart, but then was called for an urgent meeting and had to abandon the shopping cart.
Normally, this would be a lost opportunity, but with remarketing you would be able to reach out to this person who already showed interest in your products.
With remarketing, you can tailor your ads to follow people who abandoned the shopping cart. This could greatly improve your ROI, as those are qualified leads and the ads will only be targeting people who already showed enough interest in the product.
To Wrap Up
If you’re running a campaign with the proper set up and tracking options installed, it’s important to take a look at your campaign’s data to make sure you’re using it to your advantage.
Remember that AdWords is a very transparent advertising platform where you can determine not only how much you’re spending on advertising, but most importantly, how much you’re getting back in terms of actual ROI.
By following some of these tips you should be able to boost your online advertising ROI in a relatively short period of time.
Some minor changes can make a big difference when you optimize your campaign based on ROI, so it’s time to dive deep into your campaign data and use it to improve your business’ overall ROI figures.