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What is PPC?
Pay per click advertising is the term given when someone will pay a search engine an amount of money every time their advert gets a click - Pay per click .
What is CPC?
Cost per click is how much it costs each time someone clicks on the advert. The cost per click will vary based on location, words used (keywords), and the industry. Put simply, the higher the competition the higher the cost.
What is CPL?
Cost per lead is the cost of the total amount of clicks to get a lead or sale. For example you might get 100 clicks at 10p per click but only get 10 leads. So the total cast is £10.00 and each lead cost £1 each.
What's the benefits of PPC?
You get instant traffic. Assuming you have given enough budget to your campaign and the keywords you have chosen get enough traffic, you will be able to get instant traffic to your website.
Monitor and optimise. With the right analytics you can ensure that you improve your campaign and lower your overall CPL.
Scalable. Once you have a successful system you can simply add more budget to get results.
Higher converting leads. Often the leads generated on PPC are higher converting than on other platforms and from other methods as those giving their details are actually looking and searching on Google for your business.
What's the cons?
Setting up your funnel. Often this can be daunting as it requires a high converting landing page, google analytics tracking, choice of high converting keywords at low cost, competitor analysis and ad creation.
Test period. When you start your campaign you will have to test what keywords work and which ones don't, Which adverts work, which landing pages work. All of this requires time, expertise and insight into improving your overall conversion rate, to ensure you get a return on investment.
Can be expensive. Depending on the industry and/or location and keywords some cost per clicks can be as much as £20 for every click!
When should I use PPC?
You are low competition area or industry. This will mean your cost per click is very low and so it will be easy to get a return on investment.
You're audience will be searching for your service. Unlike innovative product that no one knows exists, if people are already Googling your product or service then there will be specific keywords that will drive converting traffic to your site.
You have less capacity. As leads are typically higher converting on search engines oppose to other platforms, you might get less leads for your money but they will convert higher. So if you are limited on capacity this will work out better for you, spending less time on higher converting leads.
When I should not use PPC?
Your selling an innovative product. Although you can set up keywords to similar products or cross products and services to your new innovative service it might mean you get a very low conversion which will drive up the CPL. This might not then give you a ROI if you do not have enough margin in the product or service you sell. You might be better of on Social PPC where you can educate your audience first with free information before aiming to sell to them.
High competition industry or area. Unless you have a big budget and you ahve a big ticket item with a high margin it will be hard for you to make a return on investment and therefore would not be advisable.
Low budget If you have less than £500 a month to spend you probably would want to focus your investment on something that will give you a lower CPL such as Facebook PPC. Only if you were selling a very low competition service or product or in a low competition area would it be enough of a budget to get a return on investment.