Search Engine Marketing (SEM) is an extremely precise way of marketing your product and or service to a much larger and more educated consumer base that is ready to purchase. However, successful search engine marketing can be elusive without proper research and preparation.
When it comes to putting together a SEM campaign, there is not a one-size-fits-all approach. Before setting a SEM budget, business owners must determine the following:
- Is the campaign objective to raise brand awareness, increase website visitors, or drive prospects to a limited time offer?
- What geographic area are you targeting? Locally, regionally, or nationally?
- How competitive is the industry that your business competes in?
- Which Search Media will benefit the campaign the greatest?
- Search Engine Results Page (SERP) ads? – This is the page where organic and paid ads appear when a search is performed.
- Search Retargeting ad – This allows you to reach consumers who have
performed keyword searches relevant to your brand/industry/category within the last 60 days.
- Site Retargeting ads? – This allows you to reach consumers who have visited your website within the last 60 days.
Once the above topics have been identified, you can begin to research keywords and phrases that are relevant to your business. Keywords have an associated “max bid” or charge per click that will also need to be investigated in order to calculate a budget. The “max bid” is determined based on the competitiveness of the industry.
The final step is to determine a max spend per month. Consider each click-through a lead. How many leads would you need to close a sale? For example: If you have a 10% close rate, you would need at least 100 clicks a day to acquire 10 sales. Multiply 100 leads by the average cost per click. That total would provide you an estimated daily budget. Now, multiply the daily budget by the number of business days in the average month in order to generate a monthly budget.
Let Media Venue put together a no charge SEM/SEO analysis for your business. We will work with you to establish all the above and put together a budget recommendation that will allow you to reach your business goal(s).
Contact David Clark at 502-855-4782 or firstname.lastname@example.org.