I know it sounds dumb, but if you spend less than you make, you can spend it forever.
To make it even easier, you can create ads that are so specific, only buyers would dare click. Thus every click pays.
For instance when would you click on this ad language?
Red Toro Lawnmower. 24″ blade. 2.4 HP Engine. $249 plus $35 shipping.
What if the only way you saw the ad was after you searched for “Buy Red Toro Lawnmower”? And if you made $150 every time you sold a lawnmower, you could afford to spend $149 to acquire every sale, right? (I know, only if you couldn’t use that money more efficiently elsewhere). 🙂
So here’w what you need to know to start a Google AdWords campaign:
A. You need some tracking. That ‘s easy to do in Google Analytics with goals and funnels. Ultimately you want to know what keywords create sales?
B. in AdWords you can see hoow many clicks – thus how many dollars does it take to turn a click into a sale. Then figure out the cost of acquisition for each keyword.
C. Track how much those customers make from you over time buying more stuff, clicking links in email. You can do that with an email marketing program like InfusionSoft or OfficeAutoPilot.
D. Use what you learn from Adwords to direct your SEO. For that matter use what you know from your current site sales to figure out which keywords to start bidding on.
E. Now that you know how much it takes to make a sale with AdWords you can make other marketing decisions. For instance if it costs you $3.00 per person to make a sale with AdWords, does it make sense to spend $50 driving to a conference to speak in front of a group of 11 people?
Maybe it does for other reasons, but you’d know that spending that $50 on Adwords would get you 16 sales. Will you get 16 sales from a group of 11?
The only hard and fast rule. . . don’t spend any money on adwords unless you’re selling something directly.
For more on Niche internet marketing click here.