A strategy outline advertisers can employ to isolate and measure the value of brand advertisements: geo exclusions.
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App store optimization, or ASO, is a marvelous world of opportunities for mobile apps and games. With the help of ASO, mobile publishers increase the discoverability of their apps in the app stores and, what’s even more important, improve the conversion rates. The biggest dream and at the same time goal of every mobile publisher […]
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Over the years, I have seen so many horror stories when it comes to PPC Management. Whether it’s advertisers flying blind with their ad budgets or the common event of not knowing that their ads are being shown with irrelevant terms, there should always 100% transparency between the agency and the client. Furthermore, there needs to be more HONESTY on behalf of the PPC Agency. In this post, I will talk about a few areas of the Agency/Client Relationship that should be based on being honest with the client.
Educate the Advertiser:
Let’s face it, the PPC agency knows more about PPC Marketing than the client. However, that does not mean the client needs to be taken advantage of because they do not know how everything works. The person handling the client’s account needs to “in many ways” educate the client as to what is working, not working and where there are opportunities.
Everyone makes mistakes, right? Well, PPC Agencies should not try and hide them just because they can get away with it. Agencies should be forthcoming with admitting mistakes that were made and how efficiently and effectively they were fixed. It’s better to be honest with the client, than having them find out later that you lied to them. Ever heard of a Referral or a Testimonial?
Honest and Factual Reporting:
Over the years, I have seen so many poor examples of PPC Reporting where clients receive an excel spreadsheet of just Clicks, Impressions, CTR%, CPCs, etc… and not a single keyword or text ad or even a sentence on the performance of the account. In today’s world that is unacceptable. Moreover, I have also seen examples of trend charts being manipulated to disguise the true performance of a specific metric. Agencies have a responsibility to provide not only excellent service, but also honest and factual reporting.
PPC Marketing is not for everyone and for those who are spending money have this perception that the more they spend the better the results. That is completely FALSE. If an client/advertiser was given any sort of Guarantee from an agency, they should “run for the hills”. Guarantees in PPC Marketing are very dangerous for both parties because they create false expectations. An agency must be honest and upfront with the client when it comes to setting expectations both on performance and future success. The agency must have a clear understanding of the client’s:
- Cost per Conversions/Acquisition
- Targeted Audience
- Messaging Tactics
- Daily and Monthly Budgets
Honesty is always the best policy in PPC. Agencies have a responsibility to not only provide excellent service, but also be honest and forthcoming with the client. I have heard countless stories of poor PPC Management, including the topics I mentioned in this post. Some may say that is good for the industry because it creates more “turnover” and more opportunities for other agencies. However, for this PPC Geek, I believe in Happy Clients.
Learn how to use YouTube’s video builder to create compelling video ads from images. Including how to navigate the platform, creative guidelines, and examples.
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Fill out a short survey to help the digital marketing community understand COVID-19’s impact on paid media and access the dashboard to see the results.
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It’s only human nature to try things that other people are doing because it feels like a good idea and/or the right thing to do. In many instances, the outcome is either neutral or positive. However, in today’s online marketing world, just because someone is doing it, doesn’t make the outcome “good”. In contrast, it could actually backfire (both financially and reputation-wise). Let me explain.
When Facebook rolled out their advertising platform, everyone wanted to get in on the action. After a few years of “trial and error” trying to figure out the algorithm, it became clear that this was a potential money-making machine for advertisers. However, it didn’t take long for these same advertisers to see that their Ad dollars increasing while their Cost/Conversion skyrocket. It was this outcome, that started everyone to second-guess the benefit of this new PPC alternative to Google Adwords (now Google Ads)
Personally, many of my clients over the years wanted to try Facebook ads and frankly who wouldn’t? It was an amazing feeling where an advertiser could target pretty much anything they wanted. (Men 55+, Divorced, like Fine Scotch, NY Yankees and watches CNN). However, that honeymoon didn’t last very long. It was not based on strategy or setting inaccurate expectations, it was simply not cost effective and actually started to hurt their reputation. Clients would take a hit based simply on comments given by competitors and/or disgruntled people. It was this experience that quickly changed the minds of not only myself, but also the client. It was this combination of poor performance along with reputation issues that made them feel even more skeptical this new platform. However, over the years there’s been (1) one silver-lining and that is identifying which clients could benefit the most from this hyper-targeting platform.
In conclusion, as an Agency or Freelancer it is entirely OK to say to a client NO to Facebook Ads or at the very least say we should do a “test” to evaluate it’s potential. In candor, it all depends on the advertiser’s audience along with sensible strategies and agreed upon success metrics.
Are you getting tired of sifting through countless marketing articles trying to get some actual tangible advice to grow your Wealth Management company? Finding out that many of them fall short in terms of specific strategies by merely stating the obvious? Well, this article is different. I will cut through the gibberish and provide actual “hands-on” strategies that can help either a wealth management office or even financial consultants looking to grow their online presence.
#1 Basic Digital Marketing
Most of the public associates Google with SEO (Search Engine optimization) and even though they are somewhat correct, it’s much more than that. Even though PPC (Pay-Per-Click) has been a staple in digital marketing longer than algorithm-optimized SEO, they are both still a major factor in generating traffic and sales to websites. However, (SEM) Search Engine Marketing has evolved immensely, and industries such as Legal, Banking and Wealth Management communities need to adjust their strategies accordingly.
Honestly, there’s a reason why Google’s offices serve Gelato and Filet Mignon at lunch for their employees. It’s because they can charge outrageous amount of $ $ for specific keyword based on their alleged value. Let’s face it, Google Ads is not always cost-effective. For example, anything with the keyword “Wealth Manager, Estate Planning, ” is crazy expensive. The only way that this might be profitable is if you Cost/Conversion or “life-time value” metric that meets your requirements. To help explain, I will provide some “outside the box” strategies that can help ease the $ $ pain
Here’s an example of Google Ads Pricing (These are lower than in reality)
#2 Outside the Box Matters
When thinking about search marketing, the most important metrics to consider are (1) search volume and (2) estimated value of the content/keywords. However, when doing PPC Marketing keyword research, it’s not so easy. For example: Bidding on general legal keywords (IRA Rollover, Wealth Management) can result in the following dilemmas:
- Highly competitive
- Very Expensive
- Higher risk for click fraud
- Loss of Ad serving due to budget constraints
How do we remedy the problem?
Below are a few examples on how to classify keyword research in order to evaluate ROI and overall understanding of searching behaviors.
- Long-Tail Keywords: These are longer specific phrases to filter out general searches
- (wealth management services for veterans, retirement planning for military widows)
- Intent Classification: Grouping keyword terms that are segmented by an interaction potential
- High Intent: (wealth management office in Wayne, PA)
- Medium Intent: (Finance planner in PA)
- Low Intent: (Financial Consultant)
- Industry Specific Terms: These terms are highly specific in their service and can provide less competition and lower CPCs
- “HNWI Financial Planning”
- “REIT’s Consultants”
- “UITs Unit Investment Trusts”
#3 Stock Portfolio (No Pun Intended)
Yes, in the digital marketing world, the stock portfolio approach is a virtual must. We are “fishing where the fish are” in today’s world that is EVERYWHERE.
- Google Ads (search, display)
- Bing Ads
- LinkedIn Ads
- Twitter Ads
- Facebook Ads
- Ad Retargeting
- Organic Search
#4 Ever Heard of LinkedIn
Yes, LinkedIn can be used as a marketing tool not just for gloating about a job promotion and posting articles; it is also a powerful B2B and B2C advertising platform. In fact, LinkedIn Ads has impressive targeting abilities that include targeting specific industries and individuals based on job position levels.
#5 Team vs. Player
In some cases, many Wealth Management offices would rather NOT want to advertise specific employee and just focus on the generalization of their law services. However, in some instances, it can be a marketing “gold-mine” based on news and/or buzz online. If a firm is known for a specific service and is written up in a magazine where the representing attorney has received an award, then having that persons’ name in marketing efforts will most likely provide a higher intent to convert at a lower cost.
#6 Bridging the Channel Gap
This is sort of an “oldie but goodie” strategy. If a Firm is advertising outside of the online world, it is always a good idea to compliment the same branding and messaging online. For example, if a Firm’s slogan/tagline on TV is “ Were the Money Makers”, then there should be the following online:
- Google Ads campaign with keywords related to “Were the Money Makers”
- Creation of a content-heavy landing page (within the existing website) about “Were the Money Makers”
- Banner Ads that say “Were the Money Makers”
#7 Free, Free, Free
Once in a while, it is nice to generate website traffic and visibility for basically nothing. In this case, I am talking about Google Places and pushing content/blog posts through social media.
In the SERPs (Search Engine Results Pages), Google Places is a very lucrative position, especially on mobile devices within a specific geographic. In the Legal world, this is golden. It doesn’t cost anything, includes the ability to post photos, receive reviews/feedback, etc..
Pushing content via Social media: Now, it may cost money to hire a writer to develop content, but it does not cost anything to make it viral through social media platforms such as Twitter, Facebook, LinkedIn, and others.
#8 Little Secret from Comedians
You’re probably wondering where I am going with this. Well, it has been widely known that “Timing” is a crucial part of a successful comedy. Moreover, the same can be said for online marketing. For example, let’s suppose there is a big news story about a lawsuit regarding a case involving Estate Charitable Giving. Well, since “Estate Charitable Giving” is in the public eye, the shelf life will eventually dissipate by the next day or so. To leverage this, a Law Firm that provides Estate Charitable Giving could benefit by pushing their own content, provide opinions in social media, or even create a small PPC Marketing campaign around these terms.
#9 That Annoying Retargeting:
I’m sure everyone has experienced that annoying banner that follows you everywhere you go, but in the same breath, you want to do the same to others than visited your website. Well, there are more refined strategies to retargeting that can help filter out that annoyance. For example, here are some retargeting options:
- Target people who only visit specific pages or interactions to limit wasteful ad dollars
- Upload email lists of current and past leads/customer into Google Ads and Facebook Ads (called RSLA)
- You can create “Look-a-like” audiences in Facebook Ads were Facebook can identify similar audiences and target ads to them directly. (little scary but works)
#10 Ever Heard of Analytics?
Analytics is the key to everything. The biggest issue Law Firms face is not only trying to understand what the data means but also to make sure their website is being accurate tracked for every interaction point. For example:
- Phone Calls
- All Online Forms
- Online Chats
- Visits of a specific highly relevant page
Besides validating that the Analytics tracking code is correctly tracking information, advertisers also need to have a firm understanding of at least the following metrics:
- Where did they come from?
- What pages did they visit most?
- Where are my leads coming from?
- What is their GEO location?
- Which days of the week are better than others?
- Did that TV commercial increase traffic for a specific day?
The purpose of this article was to provide actual “tangible” strategies that have been used with legal clients in the past (and present). If you are a wealth management firm of in the financial planning industry and would like to connect with us, please feel free to reach out to me firstname.lastname@example.org