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Managing Monthly SEO budget (In: Contextual Advertising - Adsense & Others)
Marketing budget (In: Other Online Marketing - Communities, Blogs & Press, etc)
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cfpa
Joined: Oct 20, 2006
# Posts: 203
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Posted: 2006-Nov-14 19:50
How can you draft a monthly budget for a 10 word PPC campaign. I used keyword discovery for the predicted daily count for the 10 keywords and then I used overtures tool to view the PPC bids. I am just multiplying:daily count x bid x 30 days. But then since not everyone in that predicted count is going to click on your ad, how can I come up with a more accurate number. I need to show our CFO some sort of budget for this but since it is new to everyone I have no idea how to come up with this estimate. Any help would be appreciated.
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flyingrose
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Joined: Oct 30, 2003
# Posts: 3361
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Posted: 2006-Nov-15 00:45
At Google if you want your ads to display consistently (for every time your keywords are searched - and I STRONGLY advise that you DO) you MUST set your Daily Budget to Google's recommended amount.
Go to campaign settings and click on View Recommended Budget. This is not the amount you will necessarily spend but it is what Google requires to display your ads consistently.
Multiply that amount by 30 and you can use that for your high end budget estimate. (Note that this amount can and does change especially with new campaigns and whenever you adjust bids.)
You can get a more accurate estimate by letting your ads run for at least a week and use the actual spend. Note that there are large fluctuations in Internet traffic day to day and for various time periods.
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cfpa
Joined: Oct 20, 2006
# Posts: 203
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Posted: 2006-Nov-15 13:57
Thanks flyingrose for all your help.
Our CFO wants a budget before spending any money. It's my understanding that you need to setup the account first to get this info and that there is a setup fee. I guess there is no way around that though. Thanks.
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cfpa
Joined: Oct 20, 2006
# Posts: 203
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Posted: 2006-Nov-15 18:07
you MUST set your Daily Budget to Google's recommended amount.
Their recommended budget is much higher then what we want to spend. What is the best way to deal with this. To eliminate some words or to just lower the budget and spread the words out?
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cfpa
Joined: Oct 20, 2006
# Posts: 203
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Posted: 2006-Nov-15 19:28
Google says "Once you set a maximum CPC for each of your Ad Groups, you'll also have the option of setting a maximum CPC for individual keywords. If you don't specify a maximum CPC for a given keyword, the Ad Group maximum CPC will automatically apply to that keyword."
Which is better? According to Overture some of our keywords have a much lower CPC so I am adjusting these. However, does my daily budget change based on lowering my CPC on individual words?
I just don't understand why google is recommending such a high budget on words that they estimate will only get 0-1 clicks.
This stuff is so confusing I'm really thinking of working with a company. I had no idea this was so complex and I consider myself a smart person. However, I'm sitting here feeling very anxious and overwhelmed by the whole thing.
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SportsGuy
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Joined: Aug 30, 2002
# Posts: 3600
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Posted: 2006-Nov-15 20:04
Once you set a maximum CPC for each of your Ad Groups, you'll also have the option of setting a maximum CPC for individual keywords
Means that you can set an overall max cpc for the groups as an entity - so all groups combined fall under this larger CPC umbrella.
Individual keywords can then be managed to keep bids lower or higher on individual words as you choose them.
Your max CPC for the ad groups will be higher than your highest CPC on individual phrases - or maybe equal to it.
In reality, Google tends to manage these things down to the lowest CPC anyway for you - setting these max options is a way of showing "intent" on your part, to a degree. others may disagree with me here, but that's how I've always seen it. The higher your "intent" the more likely you'll rank well when the ads are displayed (all other factors being equal between advertisers). They key to this is you're allowing Google to automatically increase the actual CPC to your max should they need to, in order to keep your ad listed.
I'll try for an example:
Your max cpc is $1.00 for a phrase. because traffic is low on that phrase, and other advertisers have low bids, your actual CPC is around $0.10. You set the max to a dollar, but you're paying ten cents per click.
Great.
Now, imagine a sudden increase in traffic on the phrase. A news story broke, it's focus is a holiday, whatever - there's now much more traffic on the phrase, and all the advertisers want to be number one. They all start raising their bids.
Your actual CPC will increase right up to the 1 dollar per click max you set in the system. if bidding tops out at $0.80, you'll be number one. if bidding tops 1 dollar, then you'll be left behind - how far depends on how high the bidding goes.
Look at the Ad Group maxes as umbrellas covering a collection of ads. Individual CPCs cover just that - individual phrases.
Trust me, you CAN manage this stuff on your own - it just takes some getting used to the jargon, and that critical first step of actually going live and watching the money being spent and traffic coming in.
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cfpa
Joined: Oct 20, 2006
# Posts: 203
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Posted: 2006-Nov-15 21:17
Do you recommend the budget optimizer option or the default manual bidding?
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flyingrose
Staff
Joined: Oct 30, 2003
# Posts: 3361
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Posted: 2006-Nov-16 08:47
It costs $5 USD to open a Google account. It doesn't cost anything else until you decide you want to let the ads run. I manage all bids at the keyword level to maximize traffic for minimum cost.
I almost never advise anyone to bid for the top position. You'll get a lot of clicks, a high bounce rate (the number of visitors who look at that page and leave), spend 40-60% more for a lot lower ROI.
Google's estimators are really inaccurate and they appear to be having a serious problem with the recommended budget function lately. I've had it tell me $40 then $200 then $40 on consecutive days. Traffic does vary but not THAT much.
The budget may be more than you want to spend because you may be starting out bidding too high. I never use the amount Google suggests if it is high; it isn't necessary to spend that much to get onto the first page. I ignore them when they say there is no competition because it appears they aren't counting broad match competition - only those who actually have that phrase in their account.
You won't know what you'll really spend until you do it. If it looks like more than you want to spend start with one least expensive exact match phrase, turn it on at their recommended budget and see what happens.
Remember that there is about a three hour delay between when the ads start running and you can actually see what you're spending. The ads also only run on Google search at first and then when they're approved go to a broader distribution so don't get surprised on that.
The fewer keyword phrases you use the more expensive it can be if you only use the ones with the highest bids and broad match them. Many low bid phrases reduce the number you pay a premium on.
Low traffic, low bid keywords are not too bad to learn on. If you're advertising something with really high bids or outrageous amounts of traffic (like mortgages) I don't recommend you try that on your own.
Maybe you and your CFO would feel better spending $100-$500 to have someone with experience set this up for you and reduce your risk. Once it stabilizes it isn't that difficult to manage the bids yourself.
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