If the SaaS world feels like a blur these days, it’s not just you. SaaS products and services have proliferated. Product categories have gotten more crowded. A lot of their features and functionality have started to overlap. The subscription economy has made it easier to switch to competing products. The marketplace has turned into a competitive high-stakes, “winner-takes-all” environment.
Lower Costs: When there is a near-infinite supply of search query impressions each month, your strategy is to lower your cost per click in order to drive more click (and conversion) volume to your website. This generally involves making use of keyword list refinement (match types, negative keywords) and lowering bids while keeping an eye on average position.
2. Define how will you measure success. This is probably one of the most important questions to answer before you begin any campaign. As a consultant, this is one of the first questions I ask a potential client. The answer as you might expect is page one ranking. If your objective is branding only, then this is fine, however, if like most organizations yours is a conversion strategy, then I would caution you to not be so short-sighted. Your objective should be how many conversions you want to achieve for each keyword. Top ranking will help you with visibility, which is a good thing, but if you bring in traffic from that keyword and those visitors do not engage and convert, then why bother? You must set your sights on keywords that convert.
The other option is to follow up with page visitors outside of AdWords. To do this, you’ll want to create an opt-in page (like the templates above) that offers visitors something of value in exchange for their email address or other contact information. Our dishwasher vendor could offer a free guide on the best way to prolong the life of your dishwasher.
You may be thinking... Google can index my site and learn what my site is about without keywords now... keywords aren't as important as they used to be... I'm doing fine I don't need any keyword help I have been doing this for years... I said all of those things (and more). The truth of the matter is: as long as we use the written word on line to match intent keywords will be valuable. If you are going to treat yourself to one bit of continuing education this year, this needs to be the one.
For many of you reading this post, you may wonder why these other strategies exist at all. Shouldn’t people only be paying for clicks that directly impact their ability to generate revenue and ultimately profit? I struggled with this concept early in my career, but ultimately came to the conclusion that not every single marketing activity can be direct response.
Bonus Trick: Try typing in your basic keyword phrase, followed by every letter of the alphabet, and making a list of those phrases. If your product or service is specific to locations, try typing in those locations to see what kind of search volume exists. (Are alternative energy tax credits more commonly searched in Austin compared with Cleveland?)
Another method is to track your competitors’ links. Content marketing is often done in unison with link building. Your competitors most likely create content on blogging sites. Within the articles they submit, there are external backlinks that point back to their own websites. Those links can be followed like a trail of breadcrumbs to track what they’ve been up to. Moz and Majestic are tools that are great for doing this. Here’s a look at what Moz found when I looked up Easel.ly, an infographics company.
Finally, some strategies will drive both efficiency and growth within an account. For example, concluding an ad copy test based on CTR, conversion rate, or conversion per impression can increase revenue and improve ROI. However, these strategies typically show incremental long-term improvements, and are less likely to ramp revenue or improve ROAS in the short-term.
A first step is to try to articulate what market it is that you serve. Who are the customers in this market and what problem, need or want are they experiencing? Which organisations are currently satisfying these needs or wants and how do these organisations differ? If there are multiple products tailored to different market segments try to define the ways in which these products can be grouped together or set apart. Using simple 2×2 matrices (e.g. price vs. functionality) can help to categorise your competitors and help to show what customers are looking for.
Like most advertising techniques, geo-targeting predates the internet. Local papers, radio and television programs have long been used to reach customers in a particular region with ads. These advertisements were customized for the local audiences where possible, a process that we now call optimization. Digital technology has simply made this practice more widespread. The major innovation that has increased the effectiveness of geo-targeting is the addition of other data points beyond simple location.
Thanks Ramon! You can easily add more tabs to input more backlink data for additional competitors and then adjust the query formula to use the new tabs. I often increase this to 10, 15 or even 20 competitors for larger clients. The beauty of Google Sheets templates is the ease in which you can make these adjustments. Let me know if you need any help with that.
From my experience, you don’t need complex algorithms to save money with paid search. You don’t need a crazy PPC management tool to trim down costs for campaigns. You need only employ one of 3 core paid search strategies in order to succeed in your PPC campaigns: 1) Maximize your budget, 2) Improve Branding by showing up in a top position and 3) Maximize your profit potential.
The same goes for PPC advertising. Potential customers who are targeted with your PPC ads don’t care about your need to fill your pipeline or your salespeople’s need to meet their quota—the truth is they only care about what’s in it for themselves. Cater to this by crafting your ad copy in the second person, keeping the importance on the consumer and not on your company.
Competitive analyses help you evaluate your competition’s strategies to determine their strengths and weaknesses relative to your brand. When it comes to digital marketing and SEO, however, there are so many ranking factors and best practices to consider that can be hard to know where to begin. Which is why my colleague, Ben Estes, created a competitive analysis checklist (not dissimilar to his wildly popular technical audit checklist) that I’ve souped up for the Moz community.
Chesky and Gebbia believed that most people thought hotels were the only option for travelers, but the truth was that renting someone’s extra room was cheaper with an added dose of personalised hospitality – and likely a higher margin business as well. Hyman and Fleiss believed that most people thought they needed to buy the dress they wanted to wear, but the truth was that you didn’t need to own a dress that you only wear a few times. Both teams set out to challenge old customer preferences with modern technology and logic.
Take Coca Cola and Red Bull for example. They have massive marketing budgets, and the majority of that budget goes into branding and (I am guessing) very little attention is paid to determining the ROI of each individual activity they sponsor. They just know that the more they can build equity in their brand, the more products they will sell. The result? They are some of the most recognizable brands in the world. They are also extremely profitable at the end of the year – they just achieve that profitability differently than what we are used to seeing as direct response marketers.