The pandemic brought so much pain and grief. Over five million people died because of the COVID-19 virus. Beyond the suffering, it also opened opportunities for those who want to pursue their dreams of creating their own companies.
The New York Times pointed this out in a recently updated article. Other experts agree that opening businesses is an excellent time because fewer competitors exist. This assertion may be accurate, but you would need to persevere to make your company succeed. Lastly, you require digital marketing to kick things off.
With so much at stake, you may want to try your hand at the Google Ads campaign. Fewer companies may be operating, so you have fewer competitors, but the uncertainty is still there. It would be best to have an excellent digital marketing strategy to make the most out of your Google Ads campaign. If you do not know where to start, continue reading this article.
What Are Google Ads?
You have an idea that digital marketing helps business grows. One of the most effective strategies is the Google Ads campaign. In simple words, the Google Ads campaign is a platform where you post your paid advertisement over the web. It even allows you to have multiple ads in an ad group.
How Does Google Ads Work?
Before you strategise on your company’s digital marketing, you need to determine your goals. You must identify them before you initiate your Google Ads campaign. You might want to ask the following questions:
1. Do you want to bring more customers to your website?
2. How can you bring more call inquiries?
3. How can you guide people to land on your website?
4. Do I want to target a local market? Or would it be better to consider a global audience?
Once you answer these questions, or more importantly, you have identified your objectives, you must set your budget. You must allocate enough funds to take your ad live.
Are There Different Types of Google Ads?
The answer to this question is a simple yes. Knowing the three main types of Google Ads will help you determine which one works best for your company. Here they are:
1. Search Ads – It simply is a text ad. This type of digital marketing campaign results from our search for particular keywords. If we see an ad icon beside these results, a company invested in that answer.
2. Display Ads – You can opt for this one if you want a more visual ad. It can be images, banners, videos, etc. We would see this type of ad when we search for something on digital platforms or visit a website (or app).
3. Video Ads – You can see these video ads are on YouTube. It plays before the main video starts.
Do You Know Your Audience for Your Google Ads?
It is best for you to know your Product-Market Fit (PMF) before you invest in any type of digital marketing scheme. Having one gives you an insight into how early adapters develop the right marketing message. But if you do not know your PMF yet, you might not be ready to delve into Google Ads.
If your main goal is to quickly garner a substantial number of users, you may still want to take advantage of the Google Ads campaign. Doing this will help you attain that much-needed insight from early adapters. The Cost-per-acquisition (CPA) is worth it if you know what to do with what you learned.
What Is This Unit Economics in Google Ads?
Putting up ads – may it be traditional advertising or digital marketing – will cost money. Although they can help kick things off, you must set a defined budget for this endeavor. Most startups merely think about the net income. But you have to dig deeper into what drives your expenses.
With this said, you must compute how much is the cost of creating the product (or doing the service) as well as delivering excellent after-sales service. You must also look into the other expense drivers such as the salary and rental. Once you determine this, you must ask yourself how much you are willing to pay to acquire customers through Google Ads.
What Are Your Long-Term Goals?
After going through your unit economics and establishing your Product-Market Fit, you are ready to start with Google Ads. To ensure your success, you need to strategise your digital marketing scheme. It is not enough that you pay for a campaign, but this investment should be aligned with your long-term goals.
How about PPC?
You might have heard about pay-per-click (PPC) and its efficacy in promoting brands. You might be tempted to focus on profit. Yes, we want to maximise our income. But this should not be the end-game.
You must also think about bringing enough revenue to continue the spending cycle on the ads and acquire more customers. After all, it is not all about short-term profits. Even at the very start of your PPC campaign, you should think about how to increase your advertising investment.
At the onset, your PPC rate may be considerably low. But you should not be surprised because the PPC conversion rate across industries is only 4.4%. Most people who see your ad will never click them.
Keep in mind that at the start, your cost-per-click (CPC) and clickthrough rate (CTR) would be considerably lower compared to other industries. But take note that you have to do the works.
This lackluster result may make you question the efficacy of digital marketing. Like any endeavor, you must put up the effort to make it successful. In this case, you need to get as many ad impressions as possible to get your CTR in a comfortable position.
In this case, you would need to invest more and work on your keywords. But take note that these are general guidelines. Every business is unique.
What Is Next for Your Google Ads Campaign?
You are now ready to start your Google Ads campaign. In this endeavor, working out the budgeting constraints is not the most challenging part. But you must figure out the correct target to make the most of your investment. You must also find the right message that resonates with your market.
Let us say that you want to focus on your branded keyword. You must ask yourself if this strategy is enough to pay for the click itself. It might also be prudent to bid on your competitor’s keywords. But you might want to put up ads that differentiate the two entities.
Google Ads is a powerful platform that can help your company grow, but for it to work, you must create the right strategies and tactics. Digital marketing still needs your input for it to be successful. If you do not create a blueprint, this investment will become an unnecessary expense.
It will take a lot of work for your startup company to take off. But with perseverance, you can succeed. After all, it took giants years to build their empires.
To ensure your business’ success, you should invest in building a partnership with a reliable digital marketing agency for startups in Toronto. At New Digital Marketing, we believe that your success also counts as ours. Time is ticking so call us now to get started!