Are you looking to set a search marketing budget for 2023? In this article, we provide tips on how to allocate your budget based on your business's needs and goals, industry benchmarks, and overall marketing vision. We also explain how to use math and research data to determine a competitive budget and how to make adjustments based on changing data.
As a business owner, you know that success in marketing is crucial for driving growth and reaching your goals. One way to effectively reach potential customers is through paid search marketing campaigns, which allow you to advertise on search engines like Google and pay for each click on your ad. In this article, we will cover how to set and allocate a budget for your search marketing campaigns in 2023 in order to maximize your return on investment.
Before you start planning for your search marketing budget in 2023, it's important to review the success or lack of success of your previous marketing campaigns. Look at reports and data from campaigns you have run in the past and consider factors such as whether they helped you reach your goals, increased sales, or improved brand awareness. If you have had successful campaigns in the past and the budget you used for them, you can use that as a starting point for your 2023 budget. On the other hand, if your past campaigns have been less successful, you may want to develop a new plan and budget to achieve your desired results.
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In addition to looking at your own past campaigns, it's also helpful to have an understanding of what your competition is spending on paid search marketing. Research industry benchmark data to see what other businesses in your field are allocating for their search marketing efforts. This will give you a sense of the cost of paid search marketing and help you determine a budget that is competitive but also fits within your overall marketing plan and goals.
You may want to consider an SEO tool like SpyFu or SEMRush to help find your competitor's secrets.
Before setting your search marketing budget, it's important to think about your overall marketing vision. What are you hoping to achieve through your marketing efforts? Do you want to increase website visitors, sales, brand awareness, or something else? Your marketing plan should be tailored to your specific vision, and your budget should be allocated accordingly. For example, if your main focus is on increasing website traffic, you may want to allocate more of your budget to search marketing than to other tactics like social media or email marketing.
One common method for determining an overall marketing budget is to base it on a percentage of your revenue. Many businesses allocate between 2-15% of their revenue for marketing. Once you have considered your past campaigns, industry benchmarks, and marketing vision, you can use this range as a starting point and adjust up or down based on your specific needs and goals. If your vision requires a strong focus on search marketing, you may want to allocate a larger portion of your budget to PPC campaigns. It's also important to keep in mind that your budget may need to be adjusted as you gather more data and see how your campaigns are performing.
Setting and allocating a budget for your search marketing campaigns in 2023 is an important step in ensuring the success of your marketing efforts. By considering your past campaigns, industry benchmarks, marketing vision, and basic math and research data, you can develop a plan that will give you the best return on your investment. If you want help developing a search marketing budget or have questions about other aspects of your online marketing strategy, Key Medium offers free website consultations. Book a time with us to get personalized recommendations and guidance on how to optimize your online presence. By working with a team of experts, you can be confident that your marketing budget is being used effectively to reach your goals and drive growth for your business.
Reference: SmartInsights
PPC Strategy should not merely focus on driving PPC traffic successfully, but rather, driving successful PPC traffic. Traffic that will convert to meaningful outcomes. Results.
At Running SEO and Key Medium, use the right tools backed by AI to create the best AD for the right audience, in order to send them on the path towards conversion (ie. to a landing page which includes 1- a headline which reflects their search; 2) an image of what they are looking for; 3) short sales copy; 4) a clear call-to-action; 5) social proof/testimonial to show credibility-- usually under CTA).
We target your niche and focus first on completely getting to know the audience-- their location, age, gender-- along with their interests and what they are in-market for. This enables us to hone in on what the user's state of mind is.
Some purchases are thought out over a longer period of time, such as a high-ticket item or b2b services. Other purchases are more in-the-moment. Somehow something caught the lead’s attention and they quickly proceed on the path to purchase.
In order to buy something, one must be aware of it first, of course. After that initial exposure and awareness, the customer then shows interest. Their interest turns into desire/consideration, which then leads them to proceed to action. This is the sales funnel, which tapers down.
How will we best reach them?
Through PPC- for people who know what they're looking for and are ready to take action. They are expressing intent.
Now through the display or Facebook/IG/Twitter channels, ads are placed directly in front of people who aren't actively looking and don't quite know what they want yet.
In this channel, we need to start educating them about the product or service offering and target them based on who they are and what they're interested in.
Video and content marketing strategy are a relevant way to reach these people that don't know what they want. Show them that there is a solution to a problem that they have in order to entice them to click.
How We Help You Develop the Best Pay-Per-Click Strategy
Our PPC strategy utilizes a variety of tools and techniques that help you stand out, draw leads, and gain conversions. We follow a highly optimized strategy that will make your marketing strategy a success. Some of the things that we implement in our PPC strategy are:
We do away with the trends of the past to focus on the way of the future. That means that we don’t focus on keywords when crafting content, we focus on the wants, desires, needs, and interests of your target market along their journey.
Studies show that when ads are relevant and personal to someone, they are much more likely to click on it. With PPC, this is everything. The goal is to get people to click on your ads with the intent of conversion, so if your ad is appealing to them, they will.
We develop an understanding of your target market and use automation to personalize relevant ads that will capture the attention of your audience. This strategy is imperative in receiving the highest number of clicks in your PPC ads.
The vast majority of consumers use their mobile devices when they are searching or making a purchase online. This makes it imperative to optimize ads for mobile devices.
If an ad is not optimized for mobile, many potential customers will ignore it. Our services will make sure that your PPC ads integrate perfectly with mobile devices, making them accessible by all.
Voice search is a top up and coming marketing tool. In fact, estimates show that by the end of 2020, voice search will make up at least half of searches. This is in part due to the advent of technologies such as Amazon Alexa, Google Home, and Siri.
Our services focus on optimizing your ads for voice search in order to prepare for future marketing trends.
Automation and Artificial Intelligence have long been used creatively in various stories that envision the future. This technology is no longer just part of the imagination. This technology is here and, in fact, prevalent in our society today.
Automation makes it possible for ads to be personalized for a particular audience. It ensures that ads will reach a specific target market and are more likely to be clicked on by potential customers.
Our strategies utilize automation in order to personalize your ads and create ads with high engagement and conversions.
Continuing as one of the top marketing tools out there, video marketing provides the opportunity for consumers to get a good look and feel of a product, brand, or service in order to entice them to buy. The addition of videos to ads actually gives them a higher ranking on search engines and makes them more likely to be clicked on.
Our digital marketing services focus on crafting relevant videos for your PPC ads in order to make your ad stand out, have a high ranking, and give consumers even more reasons to click.
