Set a perfect google Adwords budget that works for you. know how much Google Google Ads can cost for your business, and how much you should spend on Google Ads | Google AdWords Budget
Google Ads are one of the best ways to promoting your business. With the help of AdWords, you can reach one of the world’s largest audiences, as long as you have the budget
According to Google, the average advertiser on their platform makes two dollars for every dollar they spend. and According to WordStream, the average click-through rate across all industries on Google Ads is 1.91%.
How Much Does Google Ads Cost?
The cost of Google ads depends on your industry, keywords can be extremely cheap or extremely expensive. Google advertising costs (formerly known as Google AdWords) depend on many factors. A click on one of your ads can cost anywhere from a few cents to several dollars, depending on your multiple ads.
You can spend $ 50 per month or $ 10,000 or more. How much you spend depends on your sales goals, how much geographic area you are targeting, search volume, and industry competitiveness.
The main two factors are as follows:
Competitiveness- The more people that want to display their ads against specific search terms, the more expensive those ads will become.
Where you want to display your ads- Showing your ads in Google search results tends to be more expensive than through their Display Network.
The good news is that you can optimize your campaigns and choose how much your daily expenses will be. The bad news is that you can't just guess. Spending too little on Google ads may not mean that you won't get results when you need to be. Spending too much may mean that it would be better to waste resources that would be allocated for SEO and
content marketing . Unfortunately, if there was a simple answer, you are not reading it now. You’ll need to examine several different factors to arrive at a number that makes sense for you.
When you are just starting out, you want to include your costs, because you do not know what work is going to happen.
The latter is how much you should expect to spend on advertisements every time you get a conversion, and the average varies greatly depending on your industry.
Google Ads across industry
There is stiff competition from some industries in AdWords. For example, the legal, insurance, and drug rehab industries pay a steady price for their advertisements on relevant searches. According to their CPC price start with some of the most expensive areas:
- Insurance: $54.91
- Loans: $44.28
- Attorney: $47.07
- Credit: $36.06
- Hosting: $31.91
These fields are so expensive because they all have the potential for amazing ROI, such as landing clients with recurring payments.
Depending on your industry, you can take an average click-through rate and calculate how many months you will get based on the keywords you choose. For example, if you have a keyword and the volume is 1,000 searches per month, you can expect to get 19 clicks per month at an average CTR of 1.91%.
There are two bidding strategies you can use in Google ads:
Manual CPC Bidding
Manual CPC bidding gives you more control over your bidding strategy. But, more control means spending more time monitoring costs and adjusting yourself. If specific campaigns are more profitable than others, you can quickly adjust the budget to add money or withdraw from other campaigns.
Automatic or Smart Bidding This
smart bidding strategy focuses on brand awareness and helps you reach more and more people. Google has the right to increase or decrease your bid amount based on the likelihood of increasing sales. The bids will try to be average in your maximum cost per click set.
If you want to see which bidding strategy is the best fit for your marketing goals, set up a consultation call with us and we’ll be glad to point you in the right direction.
Reduce Your CostDepending on your industry, products and targeted location, the difficulty level of achieving lower CPC might vary, but here are some general tips that, if applied properly, should help you:
If you want to control the best place to put your money then your keyword choice is important. When it comes to increasing PPC advertising ideas and lowering CPC, you cannot ignore
long-tailed keywords . You already know that long-tail keywords generate up to 80% organic traffic.
If you are advertising for a pet store, do not target "pets". Be more specific, and you’ll get more relevant traffic. There are thousands of reasons why someone would search “pets.” They could be looking for suggestions for a new one, how to take care of one, etc.
Improve quality score to reduce costs
Your Quality Score is influenced by the click-through rate (CTR) , the relevance of the keywords in their ad group, the relevance of your ad copy, the quality and relevance of your landing page, and your historical account performance.
Your cost per click (CPC) is determined by the following formula: The advertiser's ad rank below you, divided by your Quality Score, plus 1 percent. By optimizing your Quality Score, you can greatly improve your campaign’s performance, and reduce your Cost-Per-Click at the same time, as QS is directly proportional to CPCs.
Implement A/B Testing
One way to determine the effectiveness of ad copy is segmentation A / B testing. A / B testing refers to comparing two different ads in ad groups with different ad copy and determining who performs better. To test your ads can be as low as a test budget. However, it should not be so low that it takes you a long time to assess the performance.
One factor to consider when setting a test budget is the average cost per click you are aiming for. For example, if the average CPC for your keyword is £ 1.30, then the monthly budget of £ 600 would be around 462 clicks.
You can write two ads with different ad copy directed to the same landing page. Over time, you will be able to identify which version is driving the highest click-through-rate and conversion rate. AdWords offers several options for optimization
Use remarketing and segmented lists
Google AdWords can send you targeted traffic, leads and sales quickly without worrying about Quality Score. But, don't take my word for it.
For most websites and landing pages, about 2% of visitors convert on their first visit. Retargeting (also known as remarketing) can help you re-engage these visitors who have bounced and never returned but may be interested.
Review Ad Copy
Make sure that you are constantly testing new messages against your current best performing ads. Small changes to ad copy and your call-to-action can help give website visitors better qualifications. You might wonder how action words, such as contact us, book online and get a quote, can increase conversion rates and ultimately lower your cost-per-conversion.
Your ad copy can be the difference between a click on your ad and a click on your competitor’s ad. It’s important that your ad copy matches the searcher’s intent, is aligned with your target keywords
Showing your ads 24/7 can be costly for any business and will reduce your ROI. The ad scheduling system is based on the specific time zone of your Google advertising account. The time zone is something that you set when you initially created your account and can only be changed once. If you see that you have spent $ 1000 in the morning at 3 o'clock. Without conversion, you should create an ad schedule in the campaign settings to exclude that hour. Depending on your industry, certain times of day and days of the week are a lot more profitable than others. Capitalize on this and your cost per click will thank you by reducing it.
Use a More Realistic Budget
The most successful advertisers have not capped their budgets. They know that effective advertising is one of the best investments you can possibly make in your business. The frugal budget theory according to Forgo. If you put $ 10 in Google Machine, expect a fast exit of cash. The only thing you get in the end is a $ 10 waste that could have been put to better use. It is better to use a more realistic budget for one thing.
for example, If you’re investing $1 into Google Ads and getting $1.25 or $2 or $3 or $5 in return, why would you want to put a cap on that?
The above-mentioned points are some suggestions to reduce your cost of google-adwords. Other ways to reduce cost are conversion tracking, such as extensions, adjusting bids by location, device, time of day, and time.
Click here to request a quote. If you're just getting started with Google Ads, we'll send you a quote to get your campaign up and running. And if you’re already advertising in Google, we’ll give you a quote to manage your campaigns