I’ve looked into several Google Adwords accounts recently and it only took few minutes to see where a client was pouring money down the drain – and perhaps why Google’s stock is so high.
My pet theory on Google’s stock price? I’ll bet 80% of its value comes from underperforming keywords! Yes, keywords which never convert to sales yet still run, month after month, unchecked.
So here are a couple of ways to cut your PPC costs today 1. Turn off your non-performing keywords – fast!
- First, go into your Adwords account and run the Keyword/placement report. Run this for the last 90 days. Be sure to click on ‘Add or Remove Columns” and in that section, click on “Conversions (1-click)” and Cost/Conversion (1-click).
- Download the report into Excel and sort by the number of conversions.
- Now identify the keywords that have had zero conversions in the last 90 days, and add up the cost. Chances are you’re in for a shock!
- For the terms that are converting well, turn them into a Phrase or Exact match, and pause the Broad
- For terms that are not converting, or whose CPA is too high, then if the ad has a high position, consider lowering the bid and seeing what happens.
- If neither of the above are the case, then pause the keyword
- The final tip is to look at conversions from the content network (assuming you are running there.) Run a Placement Performance report and look to see which sites are not bringing you conversions. Then exclude them…it’s that easy. One account I just looked into spent $10K over three months on the content network. Over $8,000 was spent on sites that never converted, but the account owner was completely unaware this was happening. Needless to say, the non-performing sites were excluded the next day!