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Paid Search Marketing: Optimising the budget
Paid search marketing has become more difficult to manage optimally due the increases in volume and popularity. If you make errors in your paid search strategy, it can be extremely expensive both in terms of both monetary cost and the cost of lost opportunity. In order to win at paid search it is essential to calculate your marketing budget correctly at the very outset.
There are many internet marketing tools available that are supposed to help you predict the amount of traffic you should generate as a result of using specific keywords, and the one that many marketers turn to is the one supplied by one of the major search engines, however there is evidence that this can often produce misleading results. This can be very counterproductive when carrying out the initial keyword selections and optimising the marketing budget.
Deciding on the budget for a novel paid search marketing campaign is a difficult task to get right. One of the reasons is the dynamics of the market place. Most markets vary slowly and reasonably predictably with time, but paid search has a high dynamic and can appear to be almost chaotic in its nature as other players step in and out of it, keyword costs vary, and buyer sentiments change.
If the paid search marketing budget is set at too high a level, then the effect can be to encourage the selection of poorly performing keywords. Yes, it is true that you will almost certainly have selected the best performing ones as well, but with the budget residue it is likely you will be bidding on second choice keywords that will underperform and be loss making. On the other hand, if you go the other way and set a budget that is lower than optimal, it is quite likely that you will lose a substantial quantity of your quality visits due to your daily budget being depleted prematurely; you might miss key evening purchasers.
Any long term marketing strategy must involve initial budgeting, and the only way to make a reasonable stab at this with paid search is by carrying out careful research and keyword tracking projects before committing to specific budgets.
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Online software solutions provider MarketDefender.com presents the most innovative and focused piece of online brand protection software online - for more information please click-here.
by: Jim Grayson
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Word Count: 362
Date: Thu, 17 Sep 2009 -
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