Why Your Competitors Are Making More Money with AdWords Than You
A small marketing budget can impact the effectiveness of your efforts. But, that’s not the only reason behind your disappointing PPC Campaign results. Not all of your competitors have impressive resources, but they have a better strategy that allows them to maximize their ad spending, acquire new leads, and generate more revenue.
Here’s what they’re doing differently than you…
Adjust the Offerings
Not all AdWords campaigns result in more conversions since people might click on your ad but not necessarily convert with a purchase, phone call or completed contact form.
You can’t change what people want. But, you can adapt your offering.
Think about it this way: Google offers three types of services when it comes to PPC advertising: Google AdWords Express, Google AdWords, and DoubleClick. While most small businesses can’t afford the perks offered by DoubleClick, they can opt for a more budget-friendly version. So, instead of ignoring the leads that couldn’t afford their services, Google created a service that caters to their profile.
Consider following Google’s footsteps and do the same thing for your business. If you notice that not so many of your visitors buy your core product or service, then you should offer something of lesser value or even a “free” offering such as “Free Consultation”, “Free Estimate” or “Free Shipping …that allows for your customer to “try you out” before they make a bigger investment in products or services.
Optimize Sales, Not Leads
At first glance, some AdWords keywords and display placements might make you think you stroked gold, especially when you’re trying to generate leads. But if your business is not making enough money, you must be neglecting one important thing: tracking the whole process from click to close and optimizing your sales.
Some of your competitors may know and use the secret of ValueTrack parameters. Essentially, this URL parameter string can be added to your AdWords account to allow you to track which devices, keywords, networks and campaigns turned the most prospects into leads and how much money they have generated.
AdWords traffic is not everything. If you complain about not having enough visitors, then you’re focusing on the quantity versus quality. 100 clicks that don’t convert into customers value less than ten clicks that actually convert into a lead and generates a sale.
How you interact with your prospects after they’ve converted matters just as much as how you did before they became leads. If you want to keep prospects engaged, you need to cultivate a relationship with them. That can only happen with an effective nurturing strategy in place.
Establish immediate contact with your prospective customers, build trust, and maintain consistent communication if you want to move them down the sales funnel. Use tools such as MailChimp, InfusionSoft, and Yesware to make the process of nurturing leads more efficient.
These are just some of the changes you can implement to outsmart your competitors and improve your bottom line from your AdWords marketing efforts.
If you’re looking for other smart, effective and affordable tactics or need help with marketing your small business, Sprout Media Lab can help you. Get in touch with us and let’s discuss your strategy.