Yes, you read the title correctly!
I’ve spent over $1 million of my own money on Adwords in the last 8 years.
However, I’ve learnt a lot in the process.
For those of you who have used Adwords services before, you already know how much it has changed. It was all about creating a campaign and matching your keywords – and your ad would appear on the top!
There was very little competition back then. Ah, how times have changed…
I soon realised that measuring success based on how many people who see the ad actually visit the website was flawed. In fact, I soon figured that measuring click-through-rate (CTR) was not an effective method at all.
Google’s quality score – which is constantly evolving – has made Adwords a field for experts and no longer for amateurs.
Before Google launched the quality score, your ad positions were largely determined by your bid. The higher your bid was, the better your average position. This ultimately resulted in more clicks.
Google then realised that people were taking advantage of this system, putting ads that were not relevant to the user’s experience on top of Google.
As a marketing professional, the way I see Adwords is that there’s a buying cycle starting from the top. This is when people are researching a product – to the bottom of the cycle when they’re just about to buy.
You need to cover them at all the levels.
If you’re a company who wants to be a market leader, you need to make sure people find you at the level of awareness – when they’re ready to buy. It’s smarter to show your ad at that moment of relevance.
I discovered that now I can buy clicks for a fraction of the cost than even Google’s suggested bid. So I started getting almost up to 50 times higher conversion rates compared to most other people. Now I have many campaigns that give me up to 45% conversion. My cost of acquisition is reducing in a market with rising bidding costs. When I mastered this, I made this skill available to select businesses and ended up developing a clientele who made tens of millions of dollars. I did this by making sure we’re bidding for the right keywords with the right account structure.
The only reason I kept increasing my Adwords spend is because I was continuing to get a higher return on my spending. Wouldn’t you want that too?
If you can make three dollars for every dollar you spend – how much would you like to make? What’s your ideal ROI?
Are you currently running an Adwords campaign? How is it performing? Feel free to leave a comment, or contact me directly and I will happily answer any questions you may have.