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By David Larner
Reprinted from Sharing Ideas Jan. 2005
Everyone wants to get listed on the top of search engines. Hardly a day goes
by when someone doesn’t call me on the phone or stop me at a seminar and ask how
they can make it to number one. In today’s competitive market getting noticed
can be more difficult than ever. Whether you’re a speaker, author or consultant
you need visibility. Having a quality website is one of the key ingredients for
success; however having a great website is not enough.
The
majority of visitors get to websites using the major search engines and
directories. Enter the search term “professional speaker” into Google and you
will find that there are over ten million results. Try entering a phrase like
“motivational speaker” and you will quickly learn that there are over one
million sites competing for this term. In order to be listed on the first page
you need to be ranked in the top 10 results. That means that the odds are less
than one in one hundred thousand that you will make it to the top page. What can
be done to hedge your bet?
There are multiple ways to obtain top search engine ranking. In this issue we
are going to focus on the benefits and pitfalls of paid placement advertising.
Buy Your Way to the Top
The
easiest (and most costly) way is to buy your way to the top. Search engines such
as Google, Overture, Kanoodle, Findwhat and others are generating billions of
dollars of revenue thru cost per click (ie: cpc) advertising. Although the
implementations are different, the concepts are relatively the same. They all
sell sponsored listings on the top several pages of their search results for a
fee. This fee is usually determined by competitive bidding. For example: today
the top bidder for the term “motivational speaker” on Overture is willing to pay
up to $3.58 each time someone clicks on their ad.
To
be listed in the number one position, all you have to do is open an account and
bid $3.59. You would then link the ad to your website and each click would
generate a new visitor. Notice that I used the term visitor rather than the term
lead or sale. When purchasing cpc advertising it is very easy to spend a small
or large fortune soliciting visitors that don’t produce leads or sales. A number
of factors can influence your online marketing campaign including: your ad copy,
keyword phrase selection, bidding strategy and your offer.
Five Common Pitfalls That
Can Drive You To Bankruptcy:
Selecting one word search terms that are generic in nature and lead unqualified
traffic to your website.
An
example would be to buy the keyword “speaker”. Do you care about audiophiles who
are looking for home theater products, computer products, car stereo, etc? Not
at all! You will get thousands of visitors that will do nothing but deplete your
bank account. Use targeted keyword phrases. This requires a significant amount
of time and research; however your efforts will pave your way to the bank.
Selecting search terms that are not geographically specific, if your product or
service is only available to a local or regional audience.
The
Internet has global reach. Would you advertise your local business in the New
York Daily News or the London Times? Why pay to get visitors from all over the
world if your product or services aren’t applicable? Use city and state specific
keywords or regional targeting to focus on your specific audience and
objectives.
Trying to obtain top position for all of your keyword phrases.
Maintaining top positioning for non competitive keyword phrases may make sense
if the cost is small. However, for competitive terms, the investment dynamics
can change dramatically. Recently we had Overture run a proposal for one client
who wanted to obtain top positioning on a variety of very competitive terms. The
proposal called for a budget of over $300,000 per month and was expected to
yield 6,328 visitors at an average cost of approx. $50 per visitor. Further
analysis showed that by running the same keywords in the number five position we
would receive approx. 2,000 visitors at an average cost per visitor of less than
$20.
Neglecting
the Math
The
goal is either to get quality leads for potential speaking engagements or to
sell more back of the room products. If it costs one dollar to drive a visitor
to your website and one out of fifty people purchase your product, then your
cost to acquire a customer is fifty dollars. If your profit margin cannot
support this model, then stop immediately. The objective is to refine your
keyword phrases, related bids, website offer, etc. to yield an affordable and
reproducible advertising model based on conversion results.
Leading people to a poor quality site that doesn’t have a clear and obvious call
to action.
I
regularly see people spending their hard earned cash on driving traffic to their
website only to see their potential prospects leave in frustration. Remember,
attracting visitors is only a small part of the equation. Top search engine
ranking means nothing if they don’t buy! Conversions are what counts. Your site
represents your face to the world. If it is poorly laid out, unclear, and built
around your own personal interests it won’t generate much business. Your site
should be fast, functional, easy to navigate and action oriented. It should have
a clear and concise call to action and make it easy for potential prospects to
buy. Don’t get caught up in your own view of things. Always view things from the
perspective of your target audience.
Not monitoring the results.
If you don’t have a straight
forward methodology for determining what works and what doesn’t then you are
flying blind. It is imperative that you setup conversion tracking so that you
can effectively monitor the results of your efforts. Many of the top CPC
providers offer this capability to their customers and it should be implemented
and reviewed regularly. The goal is to enhance what works and to quickly abandon
the wallet draining areas that don’t.
Our clients regularly generate
new business using cost per click advertising. This process takes extensive
effort, analysis and time to implement. However, by selecting relevant keyword
phrases that drive targeted traffic to a well designed, action oriented website
you can obtain similar results. Next article we’ll cover a variety of non-paid
ways to help you climb to the top!
Dave Larner is a best selling author and speaker
with over 24 years of industry experience. He is a regular contributor to
Sharing Ideas.
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(c) 2005 Royal Publishing, Inc.
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