What can pay per click market research do for you?
Ppc research can identify upside potential (and downside risk) so you can decide whether it’s worth going forward. It can also capture consumer language (which you can echo back to improve sales conversions), and identify segments and sub segments and niches within your market who you can laser target to multiply your results.
But even more importantly, ppc market research TEST the responsiveness of the market BEFORE you develop a product, or spend a fortune in money and time:
- Is there really a need in the market for your product or service?
- Where are the market gaps?
- What might it cost you per lead and per sale to enter the market?
ESTIMATING COST PER LEAD AND COST PER SALE WITH SURVEYS BEFORE YOU SPEND ANY MONEY ON A PRODUCT OR ON MARKETING:
When you run traffic directly from pay per click to a survey in preparation for developing a newsletter capture page:
- You’ll often find that approximately twice as many people (on a percentage basis) will sign up for the newsletter as were willing to take the survey
- Since you’re paying PER CLICK, you already know your COST PER SURVEY
- You can then ESTIMATE YOUR COST PER LEAD by simply multiplying by two (note: legally, I can’t guarantee this cost for you, I can only report my experience)
- On average, if I plan to sell something similar to what my competitors are selling on the front end, I find approximately 1 out of 10 newsletter subscribers will purchase
- So I can multiply my cost per lead x 10 to get an ESTIMATED COST PER SALE (note: legally, I can’t guarantee this cost for you, I can only report my experience)
- This model is especially powerful when you track survey response on a keyword by keyword basis because you wind up with a BUYING HEAT MAP of the whole vocabulary of your market
- Determine if there is viable pathway into the market on a keyword by keyword basis
- Pause or kill any keywords which look “red” and only roll into the market on the “in the black” estimates
There’s much more info on the free ppc research mp3 – how to use surveys to identify true point of difference benefits so you’ll stand out from the competition, etc