How to decide on your PPC budget?
There are a number of ways to get more business from your PPC campaigns and budget is just one of them. Often its not just as simple is increasing the amount you spend.
From a practice perspective, you want to drive more business in the form of new patients. From a high-level budget perspective, there are two main ways to accomplish this:
- Increase your budget
- Lower cost per action, your CPA
Budget Allocation
One of the simplest ways to improve performance is to allocate budget differently. Rank your campaigns by CPA performing and develop a checklist to make sure they’re running at top performance. You could also shift more budget to campaigns with lowest CPAs.
Cost Per Action
Cost per action is driven by CPS’s (Cost per clicks) and conversion rate. If you cant already increase your budget then you should take a closer look at CPA.
To drive more business, you need to lower your CPA, so focus on driving down CPCs or improving conversion rate. You can refine your high-level budget strategy a bit more by increasing budget and lowering cost per action. You can do this buy
- Allocate more budget to best performing campaigns
- Increase conversion rate (provided your CPC increases at a slower rate than CVR)
- Decrease your cost per click (provided your CVR increases at a slower rate than CPC)
Improve CPC and CVR to get a lower CPA
Once you’ve identified your top-performing and worst-performing campaigns you know which ones to work on moving forward.
Ways to eliminate waste and fix a low CVR:
- Exclude poor performing keywords, you can do this by pulling together a search term report and adding negatives keywords.
- Test landing pages to help improve the campaigns Quality Score.
- Improve targeting by pulling a multiple dimensions reports by geography, device, search network, time of day, day of week, and find segments that are not working.
Ways to lower a high CPC:
- Lower your bids to your break-even CPC, especially for top 10 percent of keywords
- Improve your click-through rate with better ad copy for all ad groups with break-even CPCs. Make sure to pause poor-performing ads and use ad extensions when possible will also improve your campaigns.
Conclusion
Maximising your budget comes down to the things you can control and that’s your cost-per-click and your conversion rate. Put those factors together and you can be confident that you’re making use of every penny spent from your budget.
If you would like any further information then give the Dental Design team a call on: 01202677277.
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