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You need PPC Strategy for understanding where your business is heading and choosing the right type of PPC advertising;
- prioritisation of types of paid advertising and correct budget allocation;
-forming a clear understanding of the market and your place in it.
You should know: the level of demand for a product and service in the market, how much do you cover now, who are the main competitors, what are they better / worse, who is the target audience, etc.
The goals will be different for each project. When defining them, you need to pay attention to the type of business, its priority areas and growth opportunities, as well as the budget that will be allocated for paid advertising.
PPC SMART KPI
Examples of KPIs in Paid advertising: -conversion rate: what part of site visits ends with a targeted action (call, order, filling out an application for services);
-CPL (cost per lead): the percentage of ad spend to the number of targeted actions / leads performed. Use if the price of the targeted action should not exceed a certain amount;
-ROAS (Return on Ad Spend). Use it if you want to track the ratio of profit to spend on ad campaigns.
-ROMI (Return on Marketing Investment). Use it if you want to track your marketing investment return.
- Clicks. Allows you to focus on increasing conversions to the site.
-Impressions. Suitable if you aim to reach as many users as possible.
SWOT analysis is a strategic planning method used to identify the strengths and weaknesses of a business, opportunities and threats associated with competition or planning a project / advertising campaign:
S-strengths are your USPs (Unique Selling Proposals) to use in your ad copy to stand out from the competition. For example: high quality, low price, exclusive product, fast delivery, etc.
W-weaknesses (weaknesses) - the sides that should be improved or overridden by their strengths. For example: small assortment, narrow target audience, low margin, etc.
O-opportunities are the benefits you can get from leveraging new channels. For example, with the help of different types of advertising campaigns, you can reach a new audience of users interested in a product, increasing the conversion rate.
T-threats are things that you cannot control, but should be prepared for: a seasonal drop in demand or an increase in CPC due to increased competition.