- Don’t Be a Google Ads Lone Ranger!
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Don’t Be a Google Ads Lone Ranger!
Maximizing your spend and reducing waste can be improved with these three key tips:
1: Make sure to stay on top of Google’s algorithm changes with the primary objective of minimizing drop-offs. A user drop-off is calculated by measuring the number of visits to a current conversion step. A common scenario is when a prospect clicks on a contact form, minus the number of visits from the first conversion step divided by the number of visits from your first conversion step.
The paid search market faces constant disruption when it comes to an advertiser’s efforts to generate clicks and conversions, so it’s critical to remain flexible and open to experimentation. Google is constantly updating their algorithms and features to drive efficiency at scale, so check their website for news and updates: https://support.google.com/google-ads/?hl=en#topic=10286612
2: Make every dollar count. With ongoing economic uncertainty on the table including high inflation, earned revenue combined with cost savings is now at the top of everyone’s priorities.
Now that you are in control of the performance and outcomes of your Google Ads advertising program, 2023 is the right time to home in on what’s working and what tactics need to be rethought. In order to reduce your marketing costs and increase profitability without negatively impacting your revenue, you will need to determine where you can reduce your marketing costs. This may sound simple, but getting it right requires taking a hard look at your data points over a period of months. Learn more about Canopy’s Search Engine Marketing services here: https://canopyadco.com/service/sem/
3: In the paid search world, a ‘Lone Ranger’ is a term which is applicable for when your brand is consistently the sole bidder, no matter how many other bidders are competing for the organic results. Over a period of years, literally millions of dollars have been wasted on “Lone Ranger” terms. Many brands keep spending on those terms simply because monitoring and identifying them on a constant basis was a resource intensive process, but those days are (thankfully) over.
So how do I become an expert at managing my budgets with the help of improved automation?
One easy step which will protect your brand traffic is by turning off wasteful “Lone Rangers.” Simply put, your company or agency can reduce costs and increase savings by automatically turning off bidding on your brand terms when you don’t have any competitors in your market, and you already hold the number one position organically. This may not be feasible in all scenarios, but the majority of all businesses overlook this option and simply end up wasting valuable ad dollars.
You can learn more about making Google Ads work for you here: https://ads.google.com/home/how-it-works/