(By the way, I'm punishing Andy for his evil grammar and typos. This newsletter is from Audrey.)
Pay Per Click
Search Engines are the fastest and easiest way to start promoting your
store once it is up and running. Really, they are!
For those of
you unfamiliar with Pay Per Click Search Engines, they are search engines
that you pay for a spot in. In other words, you choose a keyword
(actually many keywords) decide how much you will pay that engine per
click (or per customer) and they include you in their results for that
keyword. The higher you bid, the higher you are ranked.
This is not a
new idea anymore, the leading PPCSE,
Overture, has been around for at least 4 years now. But, it is
still a great idea and powerful traffic generator for new store
owners.
By bidding on
keywords that relate to the products you're selling in your store, you can
start getting traffic just days after you open, instead of waiting
months to be ranked by the free engines like Google and MSN.
And besides,
results from most of the PPCSE’s are listed in the free engines.
Take Overture
as an example. If you are one of the top 3 sites for a particular keyword
in Overture, your store will be listed under the Sponsored links section
at the top of Yahoo!, MSN and Alta Vista. Sweet Deal!
So is using
PPCSEs a good marketing idea for new store owners? Absolutely!
But, as
always, you want to have a strategy before plunging into what is becoming
a highly competitive arena.
Andy and I
recently opened a new Yahoo! Store. Once we were happy with the site and
our homepage copy was nice and tasty, we went to the biggest of the PPCSEs,
Overture to get our store out there.
Many of the
more general keywords that fit our store had enormous bids. Some as high
as $1.99! Now for most new store owners, including ourselves, spending
nearly $2 per visitor when we’re just starting isn’t prudent because we
don’t know our visitors to sales ratio (the number of visitors it takes
for us to get a sale). So we started looking at the more specialized
keywords.
Here is the
best strategy for a new store owner to adopt. Before you start placing
huge bids for top ranking, know your visitors to sales ratio. This ratio
is incredibly important when you are paying for your visitors.
Basically,
your visitors to sales ratio is the number of visitors it takes you to get
a sale. You use this ratio to decide how much you can spend on your paid
advertising.
Say you have
a product that you make $40 profit on. You decide you’re willing to spend
half of that for advertising, $20. In the example above, we would only be
able to get 10 visitors from Overture if we bid $2 for our keyword, we
simply didn’t think that was enough.
But, we found
about 50 keywords that specifically described our products and had
super low bids. Some of them actually hadn’t even been bid on yet!
So instead of
bidding for the number one spot for the big 10 keywords, we took the
number one spot in about 50 of the not searched for quite as often
keywords.
We’re getting
the same amount of traffic from those 50, much cheaper, keywords as we
would if we had bid for those really expensive keywords… and we’re
spending less money!
This is a
strategy that really works for the new store owner. Trying to get in and
compete with the big dogs right away will break your bank and probably
won’t get you a whole lot of sales. Bidding on the smaller keywords
allows you to grab the attention of people searching for specific things
and saves you money.
Once you
start getting traffic and sales you will be able to determine your
visitors to sales ratio. And once you’ve figured it out, you’ll know how
much you can spend on those big keywords without losing profit.
Now what I’ve
just said applies mostly to Overture. They are by far the biggest and most
popular PPCSE. But what about all those “others” I mentioned?
There are
quite a few smaller PPSCEs out there. Some of them, like FindWhat, are up
and coming, but a lot of people don’t utilize them because they have never
heard of them.
Bingo! You
can grab the top position in many of these smaller PPSCEs for pennies.
After we
placed our Overture bids, Andy and I went over to FindWhat. We looked for
those keywords that were so expensive in Overture and found that they were
well within our planned marketing budget for our new store. As a matter
of fact the most we paid for a top listing was $.06.
The minimum
opening bid in Overture is $.10. WOW! We grabbed all the keywords we
could think of and smiled smugly to ourselves.
The traffic
that our cheap FindWhat keywords have brought us just about equals the
traffic we’ve gotten from Overture. We saved a ton of money.
These smaller
PPSCEs are not to be discounted. Search results for FindWhat appear in
AOL and Yahoo! How better can you spend a penny?
And there are
many more! Here’s a list:
7Search
GoClick
Xuppa
Kanoodle
Ah-ha
Epilot
FindWhat
Search123
IQSeek
MetaMission
Resources
I’m going to use the “F” word (avert
your eyes for a moment).
"FREE!"
There is
a cool little program out on the internet called
“Good
Keywords”, and it’s mighty keen.
This little
program resides on your computer and behaves in a very similar fashion to
Overture’s search suggestion tool with the added bonus of
incorporating information from Lycos, Google, Teoma and other services
like Alexa.
How 'bout
that?
Muhahaha….
If you want
to expedite your supply and demand searches, and optimize the keywords
you’re using on your web site to get traffic, this little FREE program is
a must-have.
Download Good Keywords
before they start to charge money for it.
Audrey Kerwood