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Marketing is tricky. You need to have a budget to get the work done and then an ad budget to get results. Platforms like Google and Facebook require an experienced person to do the work but also require a solid budget if you want to be found by or reach consumers. It can be frustrating for a business owner who is trying to get an idea of where to go and what to do to trim the costs without losing the majority of your sales.
This is something that will be different for every business. Some companies need to spend more money rather than cut their budget. Others actually would benefit from a reduction in costs and a lower cost per acquisition. These areas are where you can improve your CPA and lower your costs.
Google AdWords: This is where some big budgets can be spent. Some companies spend tens of thousands of dollars a month on PPC and they are seeing fewer and fewer conversions because of it. What can be done? Try running some ads during later hours. The competition is smaller and the price may be far less as well. You can also focus on more long-tail keywords because they can be more affordable and sometimes even have higher conversion rates.
Social media: If you have tens of thousands of followers then try to focus your ad budget on only showing promotions to those followers rather than people who aren’t following your pages. It’s cheaper and usually has a better conversion rate or ROI because the people seeing your ads are already interested in your brand.
Adding Gmail ads: If you are spending a lot on PPC, try converting some of the budget to gmail ads. They are far less expensive than AdWords costs and you can reach the same audience.
Adding retargeting: Consider this to be addition by subtraction. Retargeting has a higher conversion rate than almost forms of marketing and can lower your cost per acquisition.
Are you curious what else you can do to lower your monthly marketing costs? We can help you with a free consultation. Contact us today to learn more.