According to the Bureau of Labor Statistics, wages and salaries increased 4.6 percent for the 12-month period ending in June 2023 and increased 5.3 percent for the 12-month period ending in June 2022. Raw materials have increased from 5% to 22% in the last 12 years. You are going to need to increase prices and/or sell more products and services!
You need to ensure you have enough leads in the pipeline to create the sales your business will need to thrive and grow. Is it time to improve your lead generation process? If it is, do you have the expertise and tools to be successful? A lot has changed with Google Ads, a key driver of leads for many firms. Let’s talk about what you need to know to create a 2024 PPC strategy to make the most of your advertising spend.
Whether or not it's time for your business to run pay-per-click (PPC) ads depends on various factors, including your business goals, target audience, budget, and the nature of your products or services.
PPC can be a powerful tool for businesses when used strategically. However, it's not a one-size-fits-all solution, and success depends on careful planning, monitoring, and optimization. Before diving in, thoroughly research and evaluate whether your PPC strategy aligns with your business objectives and resources.
Pay-Per-Click (PPC) advertising offers several benefits for businesses looking to promote their products or services online. Some of the key advantages of PPC advertising are:
PPC advertising can be a powerful tool for businesses to reach their target audience, drive traffic, and achieve their marketing goals with a high level of control, measurability, and flexibility. Successful PPC campaigns require careful planning, management, execution, and optimization to maximize their benefits.
Deciding whether to manage PPC (Pay-Per-Click) advertising in-house or outsource it to a digital marketing agency depends on your specific business circumstances, resources, and goals. Both options have their advantages and disadvantages.
Here are some considerations to help you make an informed decision:
In-House PPC Management:
Outsourcing to a Digital Marketing Agency:
The decision between in-house and agency PPC management depends on your budget, available expertise, and your willingness to invest in training and technology. Some businesses may start with in-house management and later transition to an agency as their PPC needs grow. Others may prefer to outsource from the beginning to benefit from the expertise and time savings agencies offer. Carefully evaluate your specific goals, time to results, and resources to make the best choice for your business.
Regardless of whether you run your PPC campaigns in-house or outsource, an effective PPC (Pay-Per-Click) strategy should be designed to achieve specific business goals and deliver a strong return on investment (ROI). You need to provide feedback or context on the following:
Whoever is running will provide you with recommendations. They need to provide context so they can bridge the gaps amoung your business, the competitive landscape, and your PPC platform. It needs to be customized to your target audience, offerings, competitors, industry, and geography.
Be sure to be realistic with your budget and time to results. The budget is where we see clients run into issues. If you want $250K in results but only have a $500 per month investment, you might want to adjust your level of expectations!
The second issue is the time to see results. Depending on the complexity of your campaign, industry, and competitiveness, I’ve seen the initial campaign set-up take up to 30 days for small or mid-sized businesses. We’re talking about account creation, keyword research, ad copy and creative, ad extension, copywriting, and landing page development.
The third is a lack of a clear offer in comparison to the competitive landscape. Sometimes a free consultation will work. In other cases, you might need to offer something more compelling to get the attention of the customer. For example, 25% of your first month or purchase.
When you are running PPC or considering a PPC strategy for 2024, you’ll need to be a part of the strategy. Your feedback will be critical to the success of your campaigns. It will provide context to whoever is executing your campaigns.
Business owners and executive management are dealing with the increasing cost of labor, raw materials, inflation concerns, and military conflicts. Not to mention the numerous changes to paid search platforms such as more AI, pending changes to 3rd party tracking, more local ad options, and more. Your PPC strategy will need to adapt!
You’ll need to make changes to win more business, maintain your market share, keep your profit margins, and increase your revenues in 2024. An effective PPC strategy could be your path to increase brand awareness, lead generation, and more online sales.