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You don't have to accept these outrageous suggestions of course so your first big money saver is to lower max bid to something you find acceptable and enter it for all of your keywords.
Please note Google's system will not charge you this full amount unless someone else is willing to pay that much for keyword. Leave this number set higher if you want to produce a lot of clicks quickly.
Over time you will learn which keywords are making you money and which one's are simply too competitive for your budget. Google's campaign tracking abilities in conjunction with other 3rd party ad tracking software can help you identify these profitable keywords and track your website visitors.
To make proper decisions you will need to gather as much data as you can on how Adwords system works. Obviously, you won't have this data until you run a campaign or two which is why I suggest running your own Adwords Campaigns for a while to get familiar with their system.
Study stats provided by Google which are really quite good in conjunction with one or more 3rd party stats tracking packages.
You will start to notice trends in numbers which will allow you to make more effective use of your time and money by bidding only on keywords that are generating sales.
Analysis may also prompt you to tweak your site content if you notice a niche you want to start competing for (better yet start up another site or tier two web page on your site targeting that niche and remove these keywords from original campaign moving them into a new campaign pointing to your new content).
Google allows you to bid on 3 types of keyword matching options which immediately gives you three times keywords to bid on without any more brainstorming on your part.
Each matching option provides different results and should be managed on a keyword by keyword basis.
Google also provides two methods of displaying your ad on their network: content match listings and search network listings.
Effectively this allows you potential to be noticed by:
1)anyone searching on Google's portal,
2) anyone searching portal sites that get their search results from Google,
3) anyone viewing a site displaying Google's ads that has content related to keywords you bid on.
4) anyone reading an email with content related to your keyword at Google's free email service.
That's a lot of options and a lot of potential exposure.Tweaking to find right combination for your particular situation and spending requirements is something you simply have to do on an ongoing basis. I think benefits are obvious to you by now.
A final word on costs. You may have noticed that I didn't use a lot of numbers in my discussion of campaign costs with Google. What I think I have illistrated is a Google campaign truly can cost as little or as much as you want it to.
Advantages of Google Adwords System
- Highly configurable system with an intuitive web-based interface.
- Reporting system is near realtime so you can tweak campaigns on fly
- Since their system is web based you can access your account at any time.
- Good list of Free tools and guides (although third party tools may still be required)
- Rewards advertisers that pay attention to providing relevant content to their search clients not necessarily highest bidder. Get a better CTR and your ads are cheaper.
- Geo-targeting capabilities. Target by City, Country or display your ads Globally.
- Multiple ad delivery systems. Content and Search listings, Partner Network listings, Email.
- Multiple keyword matching options including ability to 'filter' keywords.
- Reasonable minimum startup cost of $5 with no monthly minimum spend requirements
- They have licensed their search results to several other large search engines improving your web site's exposure to people that don't use Google as their main search portal.
- Free ROI tracking tools.
- Minimum bid is a reasonable $0.05 USD.
Disadvantages of Google Adwords System
- Learning curve can cost you a lot of money.
- Not most expensive PPC search engine but certainly more expensive than all other PPCs except Yahoo-Overture
- Click fraud is an unavoidable risk.
- Content matching system does not always deliver same ROI as their search listings. If both ad delivery systems are enable for a particular campaign content match results can lower your overall campaign CTR and get keywords disabled.
- Support system is email template driven. It can take you a few tries to get information you REALLY need from Google's support.
- Interface does not indicate what your competitors are bidding, only maximum bid for any particular keyword, making implementation of bidding strategies much more difficult.
Google Adwords Resources: Google Adwords Homepage
Michael Lawrence is a University of Waterloo Engineering Graduate with 10+ years of IT experience and 2+ years of internet marketing experience.
Mike is the site operator of Cobrasurf.com which provides Free Website Traffic and Free Website Promotion.
Please see his Blog at Cobrasurf.blogspot.com