As a PPC account manager, you obviously cannot stick to a single tactic throughout the entire campaign. It is important that you bring into play numerous tactics by prioritizing them in an ideal manner, in easy words, use the right technique at the right time. But, then, you cannot just choose a strategy just because someone else is benefiting from the same. Here are a few effective tips that can help you zero down on the most suitable PPC strategies.
Identify your opportunities
The first thing you need to do is make a list of factors that primarily affect your campaign, as this is where your opportunities lie. Once you have got them all down, you can then accordingly set up strategies that can help you maximize your profits. Here are a few factors you need to focus on:
Increase the Click-Through Rate
Reduce Cost Per Click
Increase Conversion Rate
In PPC, a minute change in a single metric can lead to a major change in various other areas of the campaign. Take for instance the bids. As you lower the bid, you can witness a decline in the impressions. Therefore, while listing down tactics, it is also important you outline the assumptions as well (in easy words, the side effects). Now what do you mean by assumptions? Imagine your CTR has increased by 20 percent. This will lead to a decline in the CPC by 5 percent. Similarly, a 40 percent reduction in the CPC can result in the decline in impressions by 30 percent. A little bit of calculation can lead you to an assumption.
Once you implement these changes, it is time to study their side effects in depth. It would be great if you could get them on to worksheet and make a comparative analysis. The next step would be more definite as you have some concrete results to explain your change of strategy. Moreover, your gut feel could play an equally important role in deciding the next step forward.
How to Prioritize?
Once you have had all your tactics laid out on an excel sheet, it is time to rank them based on the opportunity size of each. Opportunities that offer that best result with a lower degree of risk ought to come first. For instance, a CPA bid increased by 10 % in Adwords is sure to get you the best rewards at a very low risk. As a result, acting on the CPA first is without a doubt the right choice. No doubt, this one may be the biggest opportunity, but improving the conversion rate would require a huge amount of testing, media budget and the right IT resources.
Following this simple exercise at the start of every month will surely maximize your chances of success and at the same time prevent last-minute anxiety and stress. Moreover, the exercise will also help you strike out tactics that would work fine in theory, but may not offer you the desired returns when you put them to practice.
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