In the previous post on PPC cost estimation I made a mistake. Since twice as many people are likely to opt in as are likely to take the long survey (7 to 10 questions), I typically DIVIDE the cost per survey by two, not multiply it by two.
Thanks to everyone who pointed this out!
SUMMARY: Most people view the rising costs of PPC advertising as an awful barrier. But the truth is, the bar isn’t nearly as high as you think!
– The rising costs of PPC make it hard for the riff raff to get into the game … so the marketers who remain expose boatloads of free competitive intelligence.
– More importantly, once you’ve been around for a while you’ll realize that less than one in ten thousand PPC advertisers is using ALL 7 critical ppc methods below effectively, even though they’re incredibly simple to implement!
The 7 CRITICAL PPC METHODS ARE: continuous testing, conversion tracking, laser targetting by theme, landing page tests, market surveys, longer follow ups, and lifetime value building
While it’s true that only 3 to 5% of the players in Adwords are making significant money, this is incredibly misleading because
HERE’S WHAT YOU NEED TO DO:
SOLUTION 1: BE SMARTER
SOLUTION 2: FOLLOW UP LONGER
Use the “Chinese Water Torture” follow up principle … drip on’m with valuable free content until they buy or die (then keep dripping with MORE valuable free content)
SOLUTION 3: BUILD LIFETIME VALUE
SOLUTION 4: USE HUMAN LOGIC MORE THAN YOUR COMPETITORS
SOLUTION 5: GET MORE COMPETITIVE INTELLIGENCE
SOLUTION 6: THINK OF ADWORDS AS WHERE YOU START THE ENGINE AND GATHER INTELLIGENCE
- Classified Ads
- Post Cards
- Display ads
- Val Packs, etc.
SOLUTION 7: STRIVE TO PAY MORE
If you do everything above, you should be able to turn visitors into dollars better than everyone else in your market. Once you can do that, you can leverage the “Unlimited Traffic Technique” (In a nutshell, if I can make $3 per visitor from a given keyword and you can only make $1, … I can offer you $1.50 for your visitors and there’s no reason for you to continue trying to service them ‘cause you’ll make more by sending them to me … all the traffic in your market can start to tilt in your favor)
Until tomorrow,
Dr. G 🙂
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:
Perry Marshall – Beyond Split Testing – Adwords Success Factors MP3
Part One:
Part Two
The video on Hyper Responsive Pay Per Click Search Marketing generated a number of questions I’d like to address here in 3 broad categories:
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.
Here’s why.
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:
Hope the video helps explain more … I WANT YOUR COMMENT AND QUESTIONS PLEASE!
Glenn 🙂
This is a summary of the 10 fundamental differences between adwords money makers and those who continually struggle … from my interview with Bryan Todd, co-author of the “Ultimate Guide to Google Adwords”.
THE FUNDAMENTAL DIFFERENCE BETWEEN ADWORDS MONEY MAKERS AND THOSE WHO CONTINUALLY STRUGGLE!
True success in Adwords often depends on your ability to honestly answer the question: “Is there some simple assumption that I’ve made in my business which I’ve never bothered to question”
When people go from not making money to making money, it’s usually because they’ve challenged a very fundamental assumption they had made about the people in their market, the market as a whole, or their business itself … one it never occurred to them to question before
Learn to question what you’ve left unquestioned, and you can make a very monumental step forward. Suddenly the flood gates open up, you can reach (and help) many more people, more effectively, than you ever dreamed possible!
THE 10 THINGS THAT DISTINGUISH MONEY MAKERS FROM FLOUNDERERS IN ADWORDS
1) Money Makers Get At The Soul Of The Market
Mastering the basic technical fundamentals of Adwords (below) is essential … but not always enough to break the success barrier!
* Keyword Volume
* Cost per click
* Ad grouping
* Position on the page
Connecting with the market on a much more personal level is what usually provides the competitive edge
* What does the market really want?
* It’s essential to communicate with the market in their language
2) Money Makers Ask “Is This What People Really Want To Buy?”
Many people get lost in searching for technical answers and never ask the simple question “is this what people really want to buy?”
Understanding the different between want and need
* (example: Bryan could do a fantastic job of teaching ou how to LEARN a language, but ultimately, people just want to SPEAK the language)
“The only marketing mistake is narcissism” (thinking people want what you want them to want, as opposed to finding out what they want!) – Dr. Glenn Livingston
3) Money Makers Only Play In Markets With Enough People Searching For What They Sell!
If you can’t find enough keyword searches each month to generate a predicted, sizable profit after hours of keyword research, then don’t try to fit a round peg in a square hole
4) Money Makers Ask “Is This A Business Model That Can Ever Really Work?” Before They Dive In
Lots of people get caught up in Adwords trials when they’ve never really asked themselves “can this business MODEL ever really work?”
* REAL MLMs (the ones that DO work) are just very sophisticated affiliate programs
* Move quality products that are useful to people
* With a quality product network marketing business will be successful, because again, it is just like an affiliate program
* FAKE MLMS: Some MLMs are merely an “opportunity to sell the opportunity”
* Example: addressing envelopes from home which recruit other people to address envelopes from home … and many other work at home offers
Two key questions to ask before getting involved in a business opportunity
* Question #1: How much money has the person offering this opportunity made this month from this opportunity?
* Question #2: How are you going to make money? Or how do I make money selling this?
* Answer should be simple and clear
* Provides for a business model that is easy to follow
5) Money Makers Know The Right “Core Message” For Their Audience
Ask the right questions about the big picture
Allow yourself to question fundamental assumptions about why you’ve ventured into this market, product, business in the first place
Question why am I trying to do this in this particular way?
* Is there a better way?
* Is this the best way?
Have I hit upon the core message for the market?
* Is this really going to resonate with my audience?
* Is this the silver bullet?
6) Money Makers Discover Know ALL The Desired Features of Their Products and Services
Benefits
* Think about what you are selling
* Have you identified ALL the desirable features and benefits it really provides?
* Do you know WHICH HUMAN NEEDS each feature of benefit really serves?
* Note: there are only 37 of them … can you link your ad copy to one?
http://www.AdwordsMarketingMuscle.com/37.htm (list of the 37 emotional needs which can be linked to purchase motivation)
7) Money Makers Know the Best Marketing Model For THEIR Business
Evaluate and question is there some sort of advertising model or web structure that might work better for a particular market?
* People often struggle trying to make a particular model work and it may not be the best suited model for that business
* The marketing model should be bull’s eye targeted for the market. A model that can be optimized based on the needs of the market
* Opt in –> newsletter –> salesletter?
* Catalog?
* Ecommerce model?
8) Money Makers Know The Internet Is NOT Their Business
Understanding that the internet is a tool to enhance or “supercharge” a business will provide a competitive advantage over the marketers that believe the internet is going to do all of the work for you
The internet is NOT your business, it is a catalyst for your business
9) Money Makers Know There Is Simplicity on the Other Side of Complexity
* The ability to take a step back after being in the market and after trying to sell to the market
* The ability to evaluate if there is anything that could be changed, even a simple assumption that you’ve made that you could now question and turn around
* Complexity doesn’t equal success (example: we all want a doctor that takes the time to reassure you, speak to you in English and not revert back to the Latin phrases from med school)
* Find the simplest way to state the primary benefits of the business
* Don’t ever underestimate the power of coherence
10) Money Makers Understand The Essence Of Adwords
The essence of success with adwords requires the ability to define the business and/ or product clearly in a very small space with a very concise and simple statement
What is a successful Adwords campaign?
* Person thinks to himself, “I want X”
* Person then goes to Google™ and types in “I want X”
* Person sees an Ad that you’ve written and your ad says, “You want X? Good, we’re going to give you X” and then the URL at the bottom says “get X dot com”
* Person clicks through and the landing page says, “You want X? We are here to give you X. Now, let me tell you exactly what steps you will need to take in order to get X”
* Number one, fill in the form in the bottom and that will be step number one in you getting X.
* Or, pick up the phone and call this 800 number and we will give you a step by step explanation on how you can get X.
* Or, enter your credit card number down in the filed below and we will send X to your house.
* It’s really that simple. If I want X, you echo that right back to me.
* Good landing pages also usually repeat what the Google™ ad said
BRYAN & PERRY MARSHALL’S BOOK: DEFINITIVE GUIDE TO GOOGLE ADWORDS
— And —
PERRY & BRYAN’S GOOGLE ADWORDS PHONE SUPPORT GROUPS
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.
Food for thought … for more, see here
Sorry … meant to include this Adwords Success Cheat Sheet yesterday from the interview with Bryan Todd
If you haven’t done so already, please download the FREE PPC MP3 with Bryan Todd, co-author of the Ultimate Guide to Google Adwords here:
FREE MP3: Fundamental Adwords Assumptions Most Get Wrong,
Even, (And Perhaps Especially) After Years Of PPC Experience:
PPC MP3
Bryan is the co-author of the “Definitive Guide to Google Adwords” and, by Perry Marshall’s own admission, he’s “a little better” at the ppc game than Perry himself.
The interview is particularly important for people who are trying to make it in Adwords, because it’s very easy to make FAULTY
ASSUMPTIONS, especially in competitive markets.
Download or Listen to the FREE Bryan Todd MP3 here:
Pay Per Click Success MP3
Bryan’s looked carefully at literally hundreds of student’s Adwords accounts during his years as a consultant, coach, and right hand man to Perry Marshall, …
So the question I asked Bryan, over and over in many different ways during the interview was … “What REALLY distinguishes people who
‘make it’ in PPC vs. people who flop and flounder”
His answer really surprised me because it had NOTHING to do with any technical skills or marketing genius.
In fact, Bryan said that the majority of people he coaches have very little trouble ‘getting’ the basic technical aspects right.
Download or Listen to the FREE Bryan Tood MP3 here:
Adwords Success MP3
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
same questions.
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)
FREE MP3: Fundamental Adwords Assumptions Most Get Wrong
All my best,
Glenn 🙂
David made an interesting comment on my post about hyper-responsive pay per click marketing yesterday:
——–
Isn’t the *Hyper-Responsive Consumer* that you are describing the most informed buyer in our market? We could call him our most educated buyer couldn’t we?
So how about this approach to what you are saying in 2 videos: ‘The way to increase your entire campaign performance is to design your marketing around the buying triggers of the smartest buyers.”
Identifying and exploiting buyer’s emotions or reasons are SIMPLE marketing fundamentals. So why the convoluted explanation of smart buyers?’
———
So here’s the reason.
I’m not just talking about the smartest buyers in your market. In fact, often the smartest buyers are the least responsive, most price sensitive, and hardest to deal with.
I’m talking about a very specific type of customer who is UNDYINGLY PASSIONATE about the products in your market, who’s CONSUMPTION APPETITE FAR EXCEEDS YOUR ABILITY TO PRODUCE, and who is emotionally invested in the solutions your market has to offer as an essential part of their sense of self.
So while all hyper-responsive customers may be smart shoppers, all smart shoppers are definitely NOT hyper-responsive customers.
In fairness to David, I haven’t had time to illustrate how to identify these customers yet, nor have I shown you specific examples of how they behave in surveys, blogs, discussion forums, purchase records, etc … so I understand the confusion.
There’s MUCH more to come!
There are FIVE reasons pay per click search marketing is evolving to center on around the hyper-responsive PPC searcher:
1. The 80/20 rule means one out of 2,000 PPC visitors really matters online
2. PPC searchers look for real points of difference, and the hyper-responsive ppc searcher knows this better than anyone
3. Hyper Responsive Pay per click visitors have huge BS detectors, so if you can satisfy them, you should satisfy your entire search market
4. Hyper responsive ppc visitors are the best ones to give you the right pay per click BUYING LANGUAGE … the words you need to convince searchers to take out their credit cards and pay!
5. Hyper responsive marketers can help you estimate your ppc costs.
Watch this pay per click search marketing video to understand more!
Part 1:
To Lear More: Hyper Responsive Marketing Secrets
Part 2:
To Lear More: Hyper Responsive Marketing Secrets