PPC ads which appear on websites and online platforms are a core part of online traffic – but that doesn’t mean they’re easy to manage. Bidding on ads and paying per click can feel like an esoteric practice to businesses building online leads. That can make it difficult to plan a PPC budget – or to know when it’s time to increases PPC ad spending to see greater results.
The secret is typically found in careful analytics, and we have several tips to help your brand find out if you should be spending more on PPC ads in 2021 and beyond.
Your Keyword Analytics Forecast Excellent Results
If you aren’t using a tool like Google Ads Keyword Planner, we highly suggest it as a way to calculate various PPC ad plans and see what kind of ads have the most potential. The Planner has many different tools to analyze a lot of scenarios, but one of the best ways to jump in is to start analyzing the top keywords you are planning for an ad campaign.
Plug the keywords in, and tools like Google’s planner can show you estimated cost per click, estimated click-through rate, and how much information in general is available for a keyword. This is excellent data for picking the right keywords and getting an idea of how they will work for a PPC campaign. If analysis shows that a particular keyword will get a lot of clicks at a reasonable budget, that’s an indicator to go ahead and invest more in those particular types of ads. You can also see data like conversion value and potential impressions, or adjust specific budgets to compare the differences and find new efficiencies.
Brands new to the Keyword Planner and similar tools may need to spend time understanding how everything fits together and what types of analysis are right for them, but it’s well worth the knowledge. Agencies like Blue Atlas can also handle these processes for busy companies that have other tasks on their minds.
You are Studying Impression Share Lost Due to Budget
If you have been running PPC ads for a while, your business has probably built up useful historical data – this is a great time to use it! Using the Google Ads Keyword Planner, businesses can study competitive metrics and modify campaign columns by choosing “Display Lost IS (budget)” and “Search lost IS (budget)” indicators. These aren’t perfectly accurate, but they will show the impression share lost because you didn’t spend enough on the ad campaign.
It’s in Google’s best interest to make these numbers as honest as possible, so if you see that your past campaigns actually lost display and search ad impressions because you didn’t spend enough, this is an important sign that it’s time to spend more!
You are Moving to Different Kinds of PPC Ads
Is your brand interested in targeting audiences more on social media than via Google Ads? That’s good news for your budget. Google Ads tend to be some of the most expensive PPC ads around. More targeted ads – say, PPC ads on Facebook – are usually much less expensive. That allows you to spend more money on more ads without needing to increase your overall marketing budget. This can vary based on industry, but usually there are savings to be found by switching your PPC ad focus.
You Have More Historical Data to Use When Bidding
Bidding at the beginning of a new campaign with new keywords can be a little tricky – and is often done manually to choose specific ad types. But if your brand has been bidding on ads for some time, you may be used to balancing the cost of acquisition with top ad ranking and have a clearer idea of what you want. This is a sign it’s time to increase the budget and switch to more automated bidding, as well as customizing automated bids based on device, time of day, region, and more. This is a great way to maximize ad performance when your brand is ready to go a little deeper.
You Need to Compensate for Dropping Conversion Numbers
Falling conversion rates aren’t something any brand wants, but it does happen for many different reasons. There are plenty of ways to address lower conversion numbers, but one of the simplest is to boost PPC ad spending as part of an overall shift in strategy toward getting more eyes on your site. This is also a good time to start experimenting with alternative keywords and focusing more on user intent with both your ads and other online content. It’s also smart to take a closer look at what your competitors are doing online, and if imitating any of their ad strategies could be useful for your brand’s own goals.
Having trouble creating an efficient PPC ad spending plan? You’re not alone: If you would like help targeting goals and spending your ad money the smart way, Blue Atlas Marketing specializes in helping businesses create the marketing and ad strategies that will work best for their unique positions. Contact us to ask a question or look at specific services.