The vast majority of pay per click search marketers focus on TECHNIQUES like split testing, peel and stick, keyword research, and matching options. Surprisingly Perry Marshall, author of Entrepreneur’s “Ultimate Guide to Google Adwords” suggests that most beginners quickly master these Adwords fundamentals, yet are prone to ignore the REAL drivers of success.
Enjoy this 41 minute, in depth psychological interview with Perry where we discuss the true guts of Adwords marketing success:
“How do you use this info as a super ppc affiliate when you do a huge volume – in different markets? Is there enough time to do all the research needed or do you just pick one of 2 markets to focus in on? ALso, do you focus on a market or a product? Ex. the health market is huge should you focus on a niche and only one product like arthritis or wt. loss- and in the market should you focus on one product in the market?”
Here’s the short answer …
Pick a well defined market area, study the hell out of it, become the person who knows the hyper responsive customers in that market better than anyone else, and only consider expanding once you’ve milked all the juice you can out of that one market.
Early in my career I experimented in a LOT of markets, and I built a name for myself as the “dude who went into 17 niches in a row”.
While that may be true, and it did make me kind of famous (if you can call it that in these circles), it was also an extraordinary headache, and an extremely self limiting business model. I’m out of that game now, and I try to persuade as many brokenhearted beginners as I can to get focussed and stay focussed!
Especially as the internet evolves (and pay per click in particular has turned out to be brutally competitive), it’s really necessary to specialize, and win with determination and depth. Hyperlinks make you hyper, and internet induced ADD is rampant.
You see it’s really not extremely hard (it’s a little hard, not extremely) to develop a 6 figure income with some experience and understanding of how things work online. But getting from 6 to 7 figures is MUCH harder in the multi-market model, and 8 figures is almost out of the question unless you’re tuned in on ONE.
So my advice for this person is …
1) Pick the market responsible for most of your income and focus there. At the absolute most, make it 3.
2) Study and love the market before you fall in love with a particular product. Product love in the absence of market understanding is death online and off.
3) The “health” market is much, much, much, much, much too broad. Pick a specific condition, and even a specific, reachable sub-group within that condition (e.g. women with diverticulitus) and become the only marketer who really understands them.
You can’t develop a hyper-responsive magnet without being hyper-focussed yourself.
FOCUS: Should you focus on hyper-responsive searchers and customer to the exclusion of all others?
SAMPLING: How do you go about defining your research populations in order to study hyper-responsive searchers and customers?
BACK ENDS: Is it possible to take advantage of hyper-responsive ppc knowledge without a fully developed back end product/service system?
Let’s take these one at a time, starting with FOCUS.
First of all, my apologies if I led any of you to believe you should ONLY focus on hyper-responsive customers and actively repel all others. A more accurate statement would be “Thoroughly understand and target the hyper-responsive ppc searcher AND seek to understand the process by which those who are less responsive can be nurtured to become hyper-responsive”.
Some of you were concerned that by focusing your efforts on less responsive consumers, you’d be seriously reducing profits. Although it’s possible, in practice I’ve found this is unlikely to happen.
The hyper-responsive searcher at one time WAS a less responsive searcher. They evolved, through their experience and frustrations in your market, to know the market better than all the other consumers. They’ve usually gone through the trials and tribulations of purchasing from your competitors, experienced benefits and problems with them, and can report back to you what would be better.
When you solve these problems (and learn to convey this in your marketing materials), you actually wind up attracting MORE of the less responsive customers. You’ll get more thoroughly thought through arguments, more solid ideas for establishing real points of difference, and more convincing ways of distinguishing yourself to THE WHOLE MARKET.
As long as you DO research the process and history of their evolution into hyper-responsive ppc searchers and customers in your market.
Moving on to Sampling.
This is perhaps a more sophisticated concern, so please don’t worry if it doesn’t fully make sense to you yet. But some people were concerned I was recommending ONLY sampling from hyper-responsive keywords and customers.
I ALWAYS recommend constructing your sample to mimic, to the greatest extent possible, the real-world marketing avenues available to you. For PPC marketers this means sampling ALL the people coming through your PPC traffic streams. Offline it means sampling ALL the people responding to display ads, classifieds, postcards, etc.
However, there are ways to identify, from within the people who respond to your ads regardless of source, WHO the most hyper-responsive people are and what they want. You will also find that the PERCENTAGE of hyper-responsive people differs from keyword to keyword, newspaper to newspaper, or direct mail list to direct mail list.
There are many ways to identify potentially hyper-responsive people, so for the sake of illustration, let’s just take ONE, which is the length of their response to a survey, or to an open ended question on your opt in form.
People responding to a survey are likely to leave longer answers if (a) they’re not finding answers and solutions to their needs elsewhere in the marketplace, (b) they’re passionately interested in the topic and hoping for a human, custom tailored response; (c) they’re itching for someone to listen to them talk about their experience in the market.
Long story short, one indication of hyper-responsivity is length of response to open ended questions, wherever you may have them in your process.
Now, if you track where people came from, and look at the PERCENTAGE of people who leave responses more than 100 characters in length, for example, you’ll find differing percentages from keyword group to keyword group, newspaper to newspaper, etc.
You do three things with this information.
First of all, you zero in on those responses and see if you can address them in your Adwords ads, your landing pages, and your sales funnels.
Second, you see if the hyper-responsive needs differ by traffic source (keyword group to keyword group, specific lists, display ads, etc)
Last, you examine the differing percentages of hyper-responsives (defined in this example as people who leave 100 characters or more in your open ended fields) ACROSS keyword groups. Now you can put more emphasis on the keyword groups which have the most hyper-responsives by volume! (Note: the best metric here is percentage hyper-responsive x group volume, since it takes both responsivity and “bang for the buck” volume into account)
Specific to pay per click search marketing, you can estimate your cost per hyper-responsive acquisition because you know (a) what your cost per click is; (b) what your opt in rate is; and (c) what percent of opt ins, on a given keyword group, meet your hyper-responsive criteria. (Just do the math)
Now, there was ALSO a question about FINDING HYPER-RESPONSIVES IN YOUR EXISTING LISTS. But the answer is essentially the same. If you’ve got an existing list and you can continually go back to it, then you want to identify the hyper-responsive needs within it, and see what they can teach you about marketing to the whole list.
Of course you can’t link them directly to a keyword group (unless you saved that information when they came into your funnel … most people don’t, though it’s easy and valuable to do), but you CAN link them to something even more valuable … purchase data! (Prospects vs. customers, dollar volume, recency of purchase, frequency of purchase, etc)
I’ll be posting a LOT more about research methods to leverage hyper-responsive ppc searchers later this month!
The last question has to do with BACK END MARKETING, … or how can you capitalize on knowledge of what hyper-responsives want if you don’t have a back end? (Kind of a scary image, don’t you think?) I’ve got a few answers:
You can use the language and concerns of hyper-responsives to attempt to bump up your CTR in Adwords, drop your CPC and cost per conversion
You can use the same language to pre-sell the hyper-responsives on your opt in process or your front end sales
You can match hyper-responsive needs with pre-existing products and offers in your market on an affiliate or JV basis, using the language to pre-sell the prospects and customers
You can use what you’ve learned to DEVELOP back end products which match their needs exactly, because ultimately (as Tyson Fitzgerald suggests), you’re going to need a set of back ends in order to fully capitalize on hyper-responsives as you attract more and more of them into your funnel.
Hope the video helps explain more … I WANT YOUR COMMENT AND QUESTIONS PLEASE!
Think you can’t succeed with pay per click search marketing because of the economy? Think again!
Here are a few mega-corporations which GOT STARTED during SEVERE ECONOMIC DOWNTURNS:
Proctor and Gamble: was founded in 1837 during the panic over the paper economy and at the very beginning of a serious 6 year economic decline. They reported almost $84 Billion in revenue last year.
IBM: was born of three companies founded during the “Long Depression” of 1873 to 1896. (Banks started collapsing initially due to the “Coinage Act of 1873″, which pushed investors away from long term loans ). $103 Billion reported in 2008.
GE: General Electric was also founded during the “Long Depression” and posted $183 Billion last year.
Instead, he said what really distinguishes people who win the Google game is their ability to seriously question 10 fundamental assumptions most people make about their market … things most people never think to ask themselves.
I have to tell you that the interview was so powerful for me personally (even after 5 years of running ultra successful campaigns), that I pushed out the launch date for this very project (the one you’re reading right now) while I asked myself these very
Anyway, … get this one now and have a listen while you’re feeling open minded about it.
I think it’ll be PARTICULARLY important for you. (Even if you’ve heard some of these things before)
There were several important comments on yesterday’s post . I’d like to respond to one of them in particular:
Joey Atlas (a fellow PPC marketer I definite respect) asks:
“Would you say the marketer who has yet to finish/complete his product (name, logo, color scheme, etc…) and website is at an advantage, in terms of honing in on the hyper-responsive elements – as opposed to the marketer who already built the product, etc… – and can only consider the ‘hyper-responsive’ elements in sales copy, PPC ads, funnel, etc…??”
I’m going to re-phrase the question more generally in order to provide an answer helpful to every ppc advertiser … “Is market intelligence more valuable before or after you’ve developed your product? Is there a value to doing pay per click research, and in particular, research to identify the wants, needs, and concerns of hyper-responsive ppc visitors AFTER you’ve already developed your product and/or your business?”
The short answer is there are benefits on costs on both sides.
If you haven’t chosen a market or developed adverising + products, I definitely recommend doing your research first. There’s no point in playing “blind archery” when you can get an incredible amount of market intelligence and laser-guide your arrow to the mark.
The down side of gathering market intelligence from scratch, however, is the money and time required. It gets easier and easier as the internet evolves (you can now legally steal your competitor’s hard work), … but it’s still very frustrating to entrepreneurs eager to jump in and get things moving.
On the other hand, EXISTING BUSINESSES stand to benefit tremendously from market intelligence, and it’s often much cheaper and quicker to gather.
For example, one of the absolute most powerful and leveraged things you can do (if you evaluate dollars and time invested vs. the return you get) is to survey you in-house lists … including BOTH existing customers and prospects, especially your opt in lists.
That’s because people who already have a relationship with you, and who are deriving value from it, are usually VERY eager to give you feedback, and are pre-disposed to evolve into hyper-responsive customers if you tweak your systems to adjust more to their needs.
It’s not uncommon to see 1,000 responses to a customer and prospect survey in 24 hours (make sure to track them separately … and include some data in the survey so you can determine who is who, and which customers have purchased more from you)
Furthermore, reaching existing customers and prospects to obtain the feedback is usually MUCH cheaper than reaching new prospects.
It’s true though, that it’s a downer to get feedback which makes you realize you need to redesign your sales systems, products, customer service, etc. But not knowing this information doesn’t make reality any different, it only makes you blind to it, and vulnerable to the marketer who figures it out.
Lest I seem to harsh, let me say I’ve made these mistakes in my own businesses, and have to deal with the consequences just like anyone else. There are products I’ve already developed, and sales funnels with literally hundreds of autoresponder follow ups which need to be rethought and re-worked due to these new insights.
But I won’t shrink from the task.
I WILL prioritize the efforts and allocate resources accordingly.
Hope that makes sense … look forward to all your thoughts!
Most adwords and ppc marketers think of ebooks and MP3s when they consider information marketing. They’ve been sold on the high margin, zero cost of goods, automated dream of the information marketing world. But this neglects the broader purpose, and true value of information marketing in adwords, and across all PPC applications.
The thing which distinguishes the most successful adwords advertisers in ppc is their ability to immediately forge a deep emotional bond with the searcher. The art and science of doing this is what I call “emotional search engine marketing”, … but the vast majority of search engine marketing gets this entirely wrong.
Sure, “people buy for emotional reasons and then justify their purchase with logic”. But if the emotional hot buttons you’re trying to push aren’t matched to what you’re selling, you’ll UN-SELL your customer. (Most people don’t realize it’s possible ppc advertising can convince people NOT to buy your product … people who WOULD have purchased if they never saw your ad!)
When you link real human needs to a real product or service feature you’ve got something. Otherwise it’s just hype… which is a nice word for bullshit.
I’m about to release a product with Terry Dean and some other well known marketers which includes a detailed review of emotional marketing by my darling wife (Dr. Sharon Livingston – who’s consulted for over 40 Fortune 500 clients).
Here’s an excerpt from the product all about emotional marketing … if you’re actively pursuing pay per click, or search engine marketing of any kind, you really should listen: