In month 2 you learned how to start marketing your ecommerce store. The strategies you learned in month 2 did not include any paid marketing strategies.
Paid marketing strategies will be covered in this month. Most of these strategies will require you to pay a fee for the traffic you will receive.
Marketing your store online successfully requires you to use all strategies available; paid, free, inbound marketing etc. All these strategies need to work together to create your sales funnel. It is very important to know how to use paid marketing because it affects your bottom line. Learn how to properly setup paid marketing campaigns.
The strategies covered in this month are(click on topic to get guide) :
Getting your store readyMonth 2
Start marketingMonth 3
Setup paid marketingMonth 4
Start inbound marketingMonth 5
Review, Calibrate, & UpdateMonth 6
Promote, Promote, PromoteTools
Ecommerce Marketing Tools
Advertising has been and it is still one of the primary and the most important part of any marketing corpus. Traditional advertising is mostly concentrated on newspapers, magazines and other public mediums. And after the Internet revolution, digital advertising i.e., advertising on the Internet has become a league of its own.
The reasons why digital/internet advertising has gotten a strong hold is because of its inherent merits like,
Adwords is Google's proprietary online advertising network that primarily places your ads on relevant search results and Google's Display network.
Pricing Models For Online Advertising:
Broadly there are two types of pricing models that you can chose from for online advertising,
CPM: CPM is cost per impression where you pay a certain amount of money for 1000 impressions (for every 1000 times your ad is shown to the audience)
CPC: CPC is cost per click where you have to pay a certain amount for each time some one clicks on your ad.
Getting started with Adwords is so easy; all you need is a Gmail account. Visit Google Adwords and click on Get Started Now.
In the next page you'll be asked to enter the Gmail ID you are intending to use and after entering the country and the preferred currency click on save and continue
Before getting into how to set up and run ad campaigns, one of the most important and basic things that you need to understand is the Adwords structure,
The structure has an Account on the top, which has a common email id, password and billing details. ,
Under the Account there is campaigns, you can have up to 25 campaigns per account, for instance if you are running an ecommerce store then you have individual campaigns for mobiles, cameras and laptops. ,
Below the Campaign you have Ad Groups, you could have up to 2000 ad groups per Campaign. For instance you can have separate ad groups for Nokia, Apple and Samsung phones. ,
Under each Ad group you have a list of keywords for which the ads are run and a relevant ad copy for those set of keywords. For instance you can have keywords like, ,
Under the ad group that runs ads for Nokia phones.
Now click on Campaigns → Create your first Campaign
This takes you to the Campaign Settings Page where you can,
o Search and Display network (recommended for maximum benefits)
o Search only
o Display only
o Shopping sites
o The first and the recommended bidding method is automatic, that is Adwords will decide the bids to help maximize the clicks
o And the second bidding method is automatic where you can manually set your maximum CPC bids.
To perform a keyword research, to know what keywords people are searching for, how competitive it is and what is its demand you could use the inbuilt keyword research tool.
Navigate to Tools → Keyword planner → Search for new keyword an ad group ideas.
For a start enter the set of keywords that you think people might search for and click on
You'll now get a list of,
The last and the final part is the billing where you have to select the mode of payment and enter a valid billing address.
Now, to answer one of the most important question, since there are only 10 ad slots, what if thousands of people are bidding for the same keyword, how would Google decide who would be included on the slot and who amongst them will placed on the top?
This is where Ad Auctions comes in handy and it is based on the formula,
Max Bid * Ad Quality (CTR) = Ad rank
Higher the rank, better the positioning on the ad slot.
Let us consider a scenario where there are four advertisers and each has a Max bid amount and their quality score, when you take the product of both the entities the result you get is the ad rank and the bidder with the highest ad rank get the top slot. Do remember that, the actual amount that a bidder needs to pay is that minimum amount needed to maintain that ad rank position. So
Actual Bid = Ad Rank of the bidder below you / your quality score
Now that you have started running ads, the campaign dashboard gives you a comprehensive idea of how each and every add groups and keywords are performing.
You can optimize your ad campaigns by,
Running ads through Adwords is the most easiest and economically viable ways to reach out to your potential customers directly when they search for the products/service you offer. As experienced Ad managers always advise, always keep a tab of the bid amount and always strive to improve your quality score to get maximum results at a much lesser cost.
Learn the best strategies for inbound marketing to generate more traffic and sales for your eCommerce store.