According to Mark Roemer Oakland, it is crucial to understand the fundamentals of paid searches or paid advertising if you want to become a successful digital marketer. Fortunately, the concept of paid advertising is not difficult to understand, and it is possible to get better at it with some practice and experimentation.
Given below is a beginner’s guide to paid searches:
- What is a paid search – Paid advertising is a type of digital marketing where advertisers pay search engines such as Google to show ads on their search engine results page (SERP). There is no need for advertisers to pay until a searcher clicks on the ad since it world by PPC or pay-per-click model.
Unlike many other forms of advertising, paid searches are controllable, measurable, and also easily scalable if you have the budget.
- PPC terminology – The common PPC terminologies are as follows:
- Click – the action of somebody clicking on your ad
- Impression – Anytime your ad appears on the search results page
- Click-through rate (CTR) – The percentage of clicks that the ad impressions get
- Cost-per-click (CPC) – The cost of per click
- Average position – The average position of your ads on the SERPs
- Cost/Conversion – The ratio of money spent on ads vs the number of generated clicks
- Conversation rate – The percentage of users who fulfilled CTA after clicking on your ad
- How paid searches work – The general steps to start a paid advertising campaign include the following steps:
- Setting the location – You can choose the location by specific country, cities, or zip codes.
- Selecting the keywords – You can gather a list of keywords for your paid search ad campaign by using keyword research tools such as Google Keyword Planner. Once you have gathered a list of keywords, you have to enter them into the ad campaign field for keywords.
You can further refine the keywords settings by exact match, broad match, phrase match, and modified broad match.
- Budget – You have to set a total or daily budget for the ad campaign. The ad campaign will pause once your daily budget is fulfilled and restart again the next day. It will stop/pause once your total ad budget is reached.
- Bid – You can automatically adjust the bid for each keyword based on the recommendations shown by the ad manager or manually adjust the bid to have greater control over your performance and ROI.
- Tracking all the important measurable variables – The most important step when running a paid advertising campaign is to track all the key measurable variables since it would allow you to continually create better-performing ad sets that offer a better return on investment.
Some variables to track include conversion rate, lead generation, online sales, CTC, live chat engagements, contact form submissions, email sign-ups, and more.
Mark Roemer Oakland suggests you focus on outcomes and not activities when running paid search campaigns. For instance, you should figure out how many new customers you want and the amount you can afford to spend to get each new customer.