Advertising
Advertising

3 Steps To Understanding Whether Or Not PPC Will Work For Your Business

3 Steps To Understanding Whether Or Not PPC Will Work For Your Business

Pay-per-click advertising (PPC) can be one of the best ways to create a revenue stream for your business. However, it might not fit every business model or make sense for your budget. Rather than dismiss PPC due to uncertainty, it’s a better idea to conduct research and run the numbers to see if a campaign can possibly return a healthy investment.

Here are the three steps you should follow to figure out whether or not PPC can work for you and your business:

Step 1: Research Your Keywords and Estimated Costs

The first step is to conduct some keyword research for your targeted keywords. To do this, you want to create an account with Adwords and use Google’s Keywords Planner Tool. You want to start broad with your search and then dig deeper into more specific keywords. Then you will want to group your keyword list into related categories and export it to organize your work and get a better idea of what kinds of keywords you want to target.

Advertising

Many business owners make the mistake of starting with a popular keyword for their business and assume that they can’t make it work due to the high suggested bidding costs. In reality, you really have to take the time to try to get a good list of different keywords to get a better idea of what you can afford to pay for the traffic.

After you’ve collected a decent list of keywords. You will want to figure out if you can generate a positive revenue stream with PPC. If you’re selling a product, you will want to get an idea of what kind of numbers you need to make a profit. For example, if you’re selling a $100 product and you’re paying $1 per click, you need to make a sale at a 1% conversion rate to break even.

If you’re selling a service, you should get your figures by looking at the cost-per-lead. Let’s say that one in a hundred leads convert into a new client. If you’re paying $1 a click and getting 10 leads per 100 clicks, you are basically paying $10 a lead. If your average cost-per-lead for advertising is typically higher, or if you know you have a high value per lead, then it makes sense to continue advertising.

Advertising

Step 2: Get Your Numbers and Tracking on Point

The next step is to set up tracking for your campaign. You need to integrate the tracking to your landing page so that you can get the conversion rate for your leads or sales. You can do this with your Google Analytics account or go with a third-party service provider. At this point, you want to be very specific about your numbers to get a realistic idea of how your campaign is going to break down.

If you’re selling a product, you have to figure out how much of that product generates a profit after the manufacturing costs. Then, you have to add in all the other costs, like credit card processing fees, shipping, and other fees, to get the profit margin before any advertising expenses. From there, you need to deduct your PPC advertising costs (a projected 100 clicks is a good starting ground) from that balance to see how much you can possibly make from your campaign.

When coming up with your numbers, it’s good to start with a figure of a 3% conversion rate. That is a reasonable conversion rate for a new PPC campaign. If you want to get even more clarity, you can integrate your average cross-sell and upsell campaigns to see what the overall profit will be.

Advertising

Step 3: Focus on the Long-Term

The initial cost for any new marketing channel is high. That’s why you need to take into consideration that your costs should drop after a few months. You should also be able to optimize your campaign for better targeting and landing pages to increase your conversion rate. You can either learn to do that through the Google support forums or consult a PPC company or expert to do the heavy lifting (many offer free consulting minutes so take advantage of them).

There are also many things you can do to fine-tune your campaigns. For example, you can target the time and days where conversion rates are higher or use negative keywords to eliminate clicks from unwanted searches. Adding all these factors into your calculation will give you a better idea of whether or not PPC is worth it for your business in the long run.

Unfortunately, many business owners give up due to being too short-sighted or a lack of instantaneous results. You have to remember that PPC is a long process that can really pay off if you make the commitment to adjusting and improving on a consistent basis.

Advertising

Featured photo credit: Ethinos via ethinos.com

More by this author

3 Tips to Protect Your Home From Natural Disasters 5 Misconceptions About Credit Scores 5 Simple Ways to Increase Your Walk-In Traffic 3 Signs That You Are Addicted To Sports Betting 5 Small Business Decisions Usually Made Too Late

Trending in Marketing

1 8 Life-Changing Skills You Can Learn in Less Than 6 Months 2 Tips for Designing Your Plastic Surgery Website for Optimal Marketing 3 SEO Tools Every Business Should Be Using in 2017 4 8 Qualities To Become An Excellent Lawyer 5 5 Simple Ways to Increase Your Walk-In Traffic

Read Next

Advertising
Advertising
Advertising

Last Updated on October 13, 2020

How to Get Promoted When You Feel Stuck in Your Current Position

How to Get Promoted When You Feel Stuck in Your Current Position

Have you been stuck in the same position for too long and don’t really know how to get promoted and advance your career?

Feeling stuck could be caused by a variety of things:

  • Taking a job for the money
  • Staying with an employer that no longer aligns with your values
  • Realizing that you landed yourself in the wrong career
  • Not feeling valued or feeling underutilized
  • Taking a position without a full understanding of the role

There are many other reasons why you may be feeling this way, but let’s focus instead on learning what to do now in order to get unstuck and get promoted

One of the best ways to get promoted is by showing how you add value to your organization. Did you make money, save money, improve a process, or do some other amazing thing? How else might you demonstrate added value?

Let’s dive right in to how to get promoted when you feel stuck in your current position.

1. Be a Mentor

When I supervised students, I used to warm them — tongue in cheek, of course — about getting really good at their job.

“Be careful not to get too good at this, or you’ll never get to do anything else.”

This was my way of pestering them to take on additional challenges or think outside the box, but there is definitely some truth in doing something so well that your manager doesn’t trust anyone else to do it.

Advertising

This can get you stuck.

Jo Miller of Be Leaderly shares this insight on when your boss thinks you’re too valuable in your current job:

“Think back to a time when you really enjoyed your current role…You became known for doing your job so well that you built up some strong ‘personal brand’ equity, and people know you as the go-to-person for this particular job. That’s what we call ‘a good problem to have’: you did a really good job of building a positive perception about your suitability for the role, but you may have done ‘too’ good of a job!”[1]

With this in mind, how do you prove to your employer that you can add value by being promoted?

From Miller’s insight, she talks about building your personal brand and becoming known for doing a particular job well. So how can you link that work with a position or project that will earn you a promotion?

Consider leveraging your strengths and skills.

Let’s say that the project you do so well is hiring and training new entry-level employees. You have to post the job listing, read and review resumes, schedule interviews, make hiring decisions, and create the training schedules. These tasks require skills such as employee relations, onboarding, human resources software, performance management, teamwork, collaboration, customer service, and project management. That’s a serious amount of skills!

Are there any team members who can perform these skills? Try delegating and training some of your staff or colleagues to learn your job. There are a number of reasons why this is a good idea:

Advertising

  1. Cross-training helps in any situation in the event that there’s an extended illness and the main performer of a certain task is out for a while.
  2. As a mentor to a supervisee or colleague, you empower them to increase their job skills.
  3. You are already beginning to demonstrate that added value to your employer by encouraging your team or peers to learn your job and creating team players.

Now that you’ve trained others to do that work for which you have been so valued, you can see about re-requesting that promotion. Explain how you have saved the company money, encouraged employees to increase their skills, or reinvented that project of yours.

2. Work on Your Mindset

Another reason you may feel stuck in a position is explained through this quote:

“If you feel stuck at a job you used to love, it’s normally you—not the job—who needs to change. The position you got hired for is probably the exact same one you have now. But if you start to dread the work routine, you’re going to focus on the negatives.”[2]

In this situation, you should pursue a conversation with your supervisor and share your thoughts and feelings to help you learn how to get promoted. You can probably get some advice on how to rediscover the aspects of that job you enjoyed, and negotiate either some additional duties or a chance to move up.

Don’t express frustration. Express a desire for more.

Present your case and show your boss or supervisor that you want to be challenged, and you want to move up. You want more responsibility in order to continue moving the company forward. Focus on how you can do that with the skills you have and the positive mindset you’ve cultivated.

3. Improve Your Soft Skills

When was the last time you put focus and effort into upping your game with those soft skills? I’m talking about those seemingly intangible things that make you the experienced professional in your specific job skills[3].

Advertising

Use soft skills when learning how to get promoted.

    According to research, improving soft skills can boost productivity and retention 12 percent and deliver a 250 percent return on investment based on higher productivity and retention[4]. Those are only some of the benefits for both you and your employer when you want to learn how to get promoted.

    You can hone these skills and increase your chances of promotion into a leadership role by taking courses or seminars.

    Furthermore, you don’t necessarily need to request funding from your supervisor. There are dozens of online courses being presented by entrepreneurs and authors about these very subjects. Udemy and Creative Live both feature online courses at very reasonable prices. And some come with completion certificates for your portfolio!

    Another way to improve your soft skills is by connecting with an employee at your organization who has a position similar to the one you want.

    Express your desire to move up in the organization, and ask to shadow that person or see if you can sit in on some of their meetings. Offer to take that individual out for coffee and ask what their secret is! Take copious notes, and then immerse yourself in the learning.

    The key here is not to copy your new mentor. Rather, you want to observe, learn, and then adapt according to your strengths.

    4. Develop Your Strategy

    Do you even know specifically why you want to learn how to get promoted? Do you see a future at this company? Do you have a one-year, five-year, or ten-year plan for your career path? How often do you consider your “why” and insure that it aligns with your “what”?

    Sit down and make an old-fashioned pro and con list.

    Advertising

    Write down every positive aspect of your current job and then every negative one. Which list is longer? Are there any themes present?

    Look at your lists and choose the most exciting pros and the most frustrating cons. Do those two pros make the cons worth it? If you can’t answer that question with a “yes,” then getting promoted at your current organization may not be what you really want[5].

    The two most important days in your life are the day you are born and the day you find out why. —Mark Twain

    Here are some questions to ask yourself:

    • Why do you do what you do?
    • What thrills you about your current job role or career?
    • What does a great day look like?
    • What does success look and feel like beyond the paycheck?
    • How do you want to feel about your impact on the world when you retire?

    Define success to get promoted

      These questions would be great to reflect on in a journal or with your supervisor in your next one-on-one meeting. Or, bring it up with one of your work friends over coffee.

      Final Thoughts

      After considering all of these points and doing your best to learn how to get promoted, what you might find is that being stuck is your choice. Then, you can set yourself on the path of moving up where you are, or moving on to something different.

      Because sometimes the real promotion is finding your life’s purpose.

      More Tips on How to Get Promoted

      Featured photo credit: Razvan Chisu via unsplash.com

      Reference

      Read Next