Google Ads is a common term thrown around during any digital marketing conversation when discussing an effective strategy for a business, large or small. You’ve probably heard of it by now.
Although you may understand what a Google Ad is, having probably seen hundreds of them everyday, the finer details as to what they do and how they can be effective for your business may not be so obvious to you.
Side note: That’s OK, because Practiceplus have made it their job to know everything about digital marketing and advertising on Google so that you don’t have to. Obviously we understand accountants, the industry and how to target customers. We have created our own in-house strategy that has proven results.
We’ve decided to give you a little low-down on Google Ads and how it can be used to grow your business. By understanding some of the key points of this method of marketing, you can identify how it can have a positive influence on you and your company.
So, what are Google Ad Services?
With Google Ads, which is an online advertising platform, you are able to create and run advertisements using audience targeting that allow you to reach your target audience with laser focus.
Finding a balance between advert content, ad spend and audience reach takes skill and experience as well as an in-depth understanding of the product or service and the people who you are trying to reach.
Things to keep in mind when you’re setting up your campaign are:
- Budget (Ad spend)
- Target audience – eg. age range, location (which you can set)
- The services you wish to promote
- The call to action (how do they contact you?) along with areas of the website to monitor (conversions)
- Estimated ideal number of new enquiries you want
- Your customer life time value (LTV)
What do Google Ad services do?
Google Ads helps you to promote your business, sell your services or products, increase traffic to your website and raise awareness of important messages.
By using targeted keywords and phrases, your business page will appear on Google searches right at the top, meaning that people will see your business services and click your link!
How are Google Ad services effective?
Google Ads can be setup in such a way that once it’s all in place, it runs almost on auto-pilot. You just set your budget and watch the new customer enquiries roll in… Well, assuming you’ve done it right. Keeping your ads super focussed on your services is a good place to start.
You also benefit from getting reports. So, at a glance you can easily monitor your ad spend and view the ROI results. NO GUESSING!
There is also a report that you can setup for weekly or monthly, where you can see all of the phone calls & durations of new clients calling your number!
Costs
Running a campaign through Google Ads generally isn’t free, although there is technically no minimum spending commitment. You have control over your budget and can choose where your ad appears on Google, whilst measuring the impact and reach that you have.
It is important for you to factor in your customer Life Time value (LTV). For example, if you gain a client, how much do they spend with you over the averaged life span? For example:
A typical customer could be worth $5000 per year to you. They might churn after 3 years. So, the life time value is $15,000. The question is: How much are you willing to spend to get that client? $50? $100? $500?
With Google, you can measure all your metrics. So, you can see your Total ad spend. Compare it to your Ad Cost per customer, then average the conversion rate. So, you could end up spending $1000 total for the month, and you managed to convert 10 customers (10%) which ends up bringing in 10 new customers. So, for $1000, you make potentially 10 x (LTV of $15,000) = $150,000 for a monthly spend of $1000. Not bad.
Conclusion
The truth is, if you don’t really consider running Google Ads, there is a 99% chance that your competition is doing it. So, it becomes a matter of fighting back and not allowing your competition to steal your potential client. Is it worth it? That depends how much you want to grow your business.
Side note: We specialise in running Google Ads for accountants. If you want to talk about it, reach out and book a chat with us. [email protected]
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