ROI-based Search
Filed under: Digital Lead Generation, General Marketing, Lead Management, Marketing Technology Solutions, Search Engine Marketing, integrated marketing, paid search
Here’s a DMNews article about setting-up a paid search budget based on profitability. I found it interesting for two reasons. 1) We just broadcasted a webinar on paid search and discussed budget setup and controls and 2) We just happen to be strategizing on how to expand our own marketing success in paid search from one area of our company to other areas – all, of course, while keeping profitability in mind.
It struck me that the author overlooked some important points to keep in mind when setting-up a profitable paid search budget.
In many cases – including ICS’s – the company has a diverse product / service mix. So when thinking about what to spend on key paid search terms, don’t just look at the price tag of the search term and the profit margin of the product / service you’re marketing. Consider search terms that may provide cross-over sales opportunities as well.
Also, ask yourself if you’re using the best possible search term that would provide the highest quality sales leads at the best price… and if you can get some cross-over marketing into other areas of your products and services, then even better.
Chances are there are some lesser cost (and higher sales value) alternatives to that high price search term that could blow your budget’s profitability.
And don’t forget to keep a close eye on your paid search program. Don’t just set it and forget it.
The great thing is… if your initial keyword selection isn’t giving you the results you thought it would, then you can always adjust your program immediately based on what your response data is telling you.
http://www.dmnews.com/Set-your-search-budget-to-be-based-on-its-profitability/article/139312/
