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First of all i just want to say that i love watching your videos! It feels like i m back to uni in my favourite’s teacher class. Pure joy of listening & learning!
Haha, I am glad you described it that way. That's exactly how I refer to it in what I am trying to do... in school you always listened to that favorite teacher that made it fun... I am trying to mimic exactly that... not just provide good info, but getting that info while not being boring at the same time. Thanks for your insights, great minds think alike!
I want to start a google ads campaign for our software product, which costs 99$ and offers a 14 day free trial. We ve made a few sales already so we have a rough idea of our conversion rate might be. My first question is if we should optimize for “inquiries” (i.e. download) in the beginning or we should go directly for sales. We sit right below the 100$ threshold you are mentioning, and we see a good number of people that purchase straight away, regardless of the 14 day trial, but obviously some buy only at the end. Second of all, i believe we have a very unique offering (only 1 direct competitor), which makes me think we would be fine in positions 3 & 4 on some high volume keywords. Do you recommend setting a separate ad for these keywords with a lower TCPA? On the other hand, on keywords where we might end up bidding with our direct competitor, should i set a higher TCPA?
I would have to know the exact niche to know whether you should go for inquiries or sales for sure. That said, The general rule of thumb is, if the software is less than $100, you will generally be better off going straight for the sale right away. If your software is super confusing or something, then you might need to collect leads instead. As far as bidding, I think your overthinking it. Yes, I have talked earlier about how position 3 and 4 is actually totally fine as clicks from those positions actually convert at a higher rate than clicks from the 1st position (more people are actually reading the ADs before clicking). Just setup your tracking right, to track actual sales, and let the smart bidding find you customers at the ROI you need. Simple. If for some reason that's not right for you because your starting with a super low budget, then I recommend you start with just 1 keyword as it will speed the rate in which you hit your desired level of ROI, then you can start adding in more keywords one at a time. In this situation, you can obviously start with the most likely to convert terms (which are the most descriptive long tail terms), then try to monetize your more general "high volume" terms later on when you have more money, and runway, to get those working. Hope that helps.
@@GuaranteedPPC Thanks a lot Corey! I do have a small budget, so i will go ahead and set smart bidding and try to narrow it down to a few hyper relevant keywords with exact match. My only question is what ROI should i aim for? Obviously for me a 2:1 would be great, but maybe i should aim for breaking even in the beginning? Totally understand if you don’t answer this one as well! I really appreciate your time and will continue to dig through your videos!
@@droplabapp I would personally take as low of a ROI as possible (basically break even) until I got my campaign really scaled up, as it's going to take forever to get your account scaled up otherwise. You can easily increase your ROI requirements once you reach 100+ sales a month and then reap your rewards then. Doing it the way I said (accepting only a break even ROI at the beginning) will allow you to get to the end goal there of 100+ sales a month 3-10X faster than otherwise. That all said, it depends if you really need that profit to run your business short term or not... if you don't really need it to function, I am scaling my ADs at a break even at first to get to the "real" money sooner. Hope that makes sense. The less you need a profit in your business when your starting out, the better off you are. Business owners who actually expect to live off the profit of the business in any significant way the first 3-5 years that I have seen (or at least receive past basic sustenance), mostly fail. This is because your business is less efficient than your competitors operation, and they don't have that hindrance.... You want your competitor to say, "how the hell can they afford to do that"? and if you do that, you win my friend. While they are fat and happy, and living off the proceeds (not hungry anymore), you are going to eat into their marketshare with that method/mindset right there... doing what those before you weren't willing to do to make your business work.
@@GuaranteedPPC that makes a lot of sense & thanks for the extra lesson regarding “delayed gratification” in business. Always good to be reminded that, especially from someone like you that sees the ins & outs of business all day.
@@droplabapp I get the benefit of seeing what other people are doing that fails, without having to do it myself, yes. Soon as you start getting comfortable in business, it's the beginning of the end. You got to constantly be pushing for more, to be prepared for getting hit with the unknown that will always eventually come. Some will call that greedy, that's just being smart. Most don't realize it until it's too late, calling me up after it's too late to do anything for them. I keep a years worth of salary in the bank, just cause of that fact.
For the best online advertising results possible, come get an estimate of GUARANTEED RESULTS from my firm. >>> guaranteedppc.com/
No fees until you raised your sales
First of all i just want to say that i love watching your videos! It feels like i m back to uni in my favourite’s teacher class. Pure joy of listening & learning!
Haha, I am glad you described it that way. That's exactly how I refer to it in what I am trying to do... in school you always listened to that favorite teacher that made it fun... I am trying to mimic exactly that... not just provide good info, but getting that info while not being boring at the same time.
Thanks for your insights, great minds think alike!
@@GuaranteedPPC 🙏 thanks, keep up the good work!
@@droplabapp Thanks Drop. The entire channel is going through an upgrade right now, in terms of editing. It will all be upgraded by this fall.
@@GuaranteedPPC curious to see the new format / changes!
@@droplabapp Thanks. Stay tuned.
I want to start a google ads campaign for our software product, which costs 99$ and offers a 14 day free trial. We ve made a few sales already so we have a rough idea of our conversion rate might be.
My first question is if we should optimize for “inquiries” (i.e. download) in the beginning or we should go directly for sales. We sit right below the 100$ threshold you are mentioning, and we see a good number of people that purchase straight away, regardless of the 14 day trial, but obviously some buy only at the end.
Second of all, i believe we have a very unique offering (only 1 direct competitor), which makes me think we would be fine in positions 3 & 4 on some high volume keywords. Do you recommend setting a separate ad for these keywords with a lower TCPA?
On the other hand, on keywords where we might end up bidding with our direct competitor, should i set a higher TCPA?
I would have to know the exact niche to know whether you should go for inquiries or sales for sure.
That said,
The general rule of thumb is, if the software is less than $100, you will generally be better off going straight for the sale right away.
If your software is super confusing or something, then you might need to collect leads instead.
As far as bidding, I think your overthinking it.
Yes, I have talked earlier about how position 3 and 4 is actually totally fine as clicks from those positions actually convert at a higher rate than clicks from the 1st position (more people are actually reading the ADs before clicking).
Just setup your tracking right, to track actual sales, and let the smart bidding find you customers at the ROI you need. Simple.
If for some reason that's not right for you because your starting with a super low budget, then I recommend you start with just 1 keyword as it will speed the rate in which you hit your desired level of ROI, then you can start adding in more keywords one at a time. In this situation, you can obviously start with the most likely to convert terms (which are the most descriptive long tail terms), then try to monetize your more general "high volume" terms later on when you have more money, and runway, to get those working.
Hope that helps.
@@GuaranteedPPC
Thanks a lot Corey!
I do have a small budget, so i will go ahead and set smart bidding and try to narrow it down to a few hyper relevant keywords with exact match.
My only question is what ROI should i aim for? Obviously for me a 2:1 would be great, but maybe i should aim for breaking even in the beginning?
Totally understand if you don’t answer this one as well! I really appreciate your time and will continue to dig through your videos!
@@droplabapp I would personally take as low of a ROI as possible (basically break even) until I got my campaign really scaled up, as it's going to take forever to get your account scaled up otherwise.
You can easily increase your ROI requirements once you reach 100+ sales a month and then reap your rewards then. Doing it the way I said (accepting only a break even ROI at the beginning) will allow you to get to the end goal there of 100+ sales a month 3-10X faster than otherwise.
That all said, it depends if you really need that profit to run your business short term or not... if you don't really need it to function, I am scaling my ADs at a break even at first to get to the "real" money sooner.
Hope that makes sense.
The less you need a profit in your business when your starting out, the better off you are. Business owners who actually expect to live off the profit of the business in any significant way the first 3-5 years that I have seen (or at least receive past basic sustenance), mostly fail. This is because your business is less efficient than your competitors operation, and they don't have that hindrance.... You want your competitor to say, "how the hell can they afford to do that"? and if you do that, you win my friend.
While they are fat and happy, and living off the proceeds (not hungry anymore), you are going to eat into their marketshare with that method/mindset right there... doing what those before you weren't willing to do to make your business work.
@@GuaranteedPPC that makes a lot of sense & thanks for the extra lesson regarding “delayed gratification” in business. Always good to be reminded that, especially from someone like you that sees the ins & outs of business all day.
@@droplabapp I get the benefit of seeing what other people are doing that fails, without having to do it myself, yes.
Soon as you start getting comfortable in business, it's the beginning of the end. You got to constantly be pushing for more, to be prepared for getting hit with the unknown that will always eventually come.
Some will call that greedy, that's just being smart. Most don't realize it until it's too late, calling me up after it's too late to do anything for them.
I keep a years worth of salary in the bank, just cause of that fact.