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In fact, according to Google, the average advertiser on its platform earns two dollars for every dollar it spends. This means that most people on the platform double their investment.
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So how much does Google Ads cost your business? How much does it really cost to get a customer?
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In this article, we’ll review the latest CPC data for your industry as well as how to use Google’s tools to forecast your ad spend.
This way you know what to expect and can start Google Ads with realistic goals and expectations.
Google Ads (formerly AdWords) uses an ad auction model, so there is no set cost for a single ad.
Companies create campaigns and the amount they are willing to pay affects their ad position (which determines if their ad wins and will appear) along with relevance and other factors.
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This means that the price of Google Ads remains unchanged, depending on what your competitors are offering for the keywords, placements and audiences you choose.
Depending on your industry, location, and competition, keywords can cost as little as a few cents or as much as several hundred dollars.
If you target highly competitive keywords with high commercial intent (and high potential value), you’ll end up spending a lot of money. But the possible ROI is also much higher.
So industries with high customer lifetime value and relatively short sales processes have become very competitive in Google Ads.
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Insurance, online education, marketing and advertising services, legal, internet and telecom are the most expensive industries, with insurance leading the pack at an average price of $18.57.
Companies in many of these industries typically market subscription services, where customers pay a monthly fee for a long period of time.
Since a customer can be of high value, it also increases PPC on Google Ads search.
The statistics below show the combined average CPC from Google Ads, Bing Ads and other SEM platforms by country:
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Switzerland and Norway, two notoriously expensive countries, lead the charge, with average costs per click for paid search at $0.8 and $0.77 per click each.
There are also significant differences in cost per click in different regions, cities and even neighborhoods in the same country for the same reason.
But since this higher CPC usually reflects an increase in spending power, it’s not worth avoiding unless you test it and see a negative ROI.
The combined averages for display and search ads show a consistent trend where mobile clicks are cheaper.
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In the first quarter of 2019, the average mobile CPC for digital ads was $0.42 and a desktop click was $0.73.
All of this data should give you a good idea of what a single ad might cost you.
But, when you’re trying to answer the question about the cost of a Google Ads campaign, it’s not enough to look at the average.
One of the biggest mistakes when launching a PPC campaign is not doing adequate research before jumping in.
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Based on your industry, you can pay anywhere from a few cents per click to twenty dollars.
To get some more relevant data, you should research individual keywords that your business might be targeting in your area.
If you’re not sure what keywords to search for, try brainstorming what people typically search for to find your business.
For example, do you run a flower shop? If so, people might search for “local flower delivery” or “local florist.”
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If you still can’t think of anything, you can also use the free Google Ads Keyword Planner.
You can also include your homepage or landing page (if you have one) to help get keyword ideas based on your site:
If you have a delivery service, you must set the location to your local city, state or delivery area. For example, we can set it to New York City.
The results will show you the average monthly search volume, as well as the bid to the top of the page.
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If you use your home page to filter, you’ll get a list of targeted keywords for the services you offer.
You can see historical monthly search volume by hovering over the graph next to the average volume number.
Once you have this data at your fingertips, it’s time to pick some keywords that are relevant to your business.
Just check the box next to the keyword and click the “Add Keyword” button. (By default, the option is set to “Add to program”).
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Once you’ve added keywords, you can instantly forecast your campaign costs by clicking the “Plan Review” link in the sidebar.
Google predicts that for advertising campaigns targeting the five keywords selected above in New York, the average cost per click will be $3.18.
You can take the total cost and conversion with a grain of salt because it doesn’t take into account budget constraints.
If you set up this campaign in the entire New York area with no budget limit, you’d spend about $21,000 for 390 conversions.
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You also want to leverage some of that budget for remarketing ads and other platforms instead of spending it all on one search ad.
Unfortunately, you can’t make money easily, so it’s hard to find money to spend on Google Ads.
And if you don’t want to reinvest money into your business or take money out of your bank account to do it, it has to come from somewhere.
Seriously, if you don’t have money in your budget and can’t afford to withdraw from your bank account, you have one option:
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The easiest way to audit a Google Ads campaign is to look at the keyword report and look for low-performing keywords.
To get a better return from your campaign, you need to pause these keywords and spend more money on keywords that result in a positive return.
If you use broad match keywords, you should also add bad keywords that you find as negative keywords.
You can do the same with the location. Open the “Location” tab and switch to the “Geography Report” view.
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From there, you can choose how specific you want the detail to be, for example, collapsing the data by condition.
You may spot entire countries, cities, or neighborhoods that are difficult to convert. (A competitor may be closer, or you may have a poor shipping policy for that location.)
Adjusting your bids for these placements, or removing them from your campaign entirely, can help you spend more where your money matters.
It’s not always as cut and dry as analyzing concrete numbers like sales from Platform X.
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So, if you spend ten hours a week on social media campaigns, even cutting five hours can free up a lot of room in your budget.
To calculate this, you need to take your hourly rate and multiply it by the number of hours you spend on the task.
Let’s say your hourly rate or fee for the service is $50 and you spend ten hours a week on social media campaigns.
Now you can use the extra time and money to invest in new platforms, like Google Ads.
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Another concrete way to generate a budget from nothing is to simply trade one platform with another.
The trick here is to analyze specific conversion data to see which platforms are consuming too much time and money with little impact on your overall results.
The goal here is to understand where you can trim the fat, where you can eliminate budget-wasting efforts that don’t lead to sales.
If you do not set a target value, you can still calculate your cost using the average value of the indicators:
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Are the direct labor and expenses higher than the average value of the index or the total monthly income from the indicator?
A final option is to conduct a quick audit of your existing overhead costs in the form of tools.
Most marketers will have a diverse set of tools at their disposal: keyword research tools, monitoring tools, social scheduling, and more. There is a SaaS tool for everything.
For example, every month I use dozens of tools that cost money: Evernote premium, Mailshake, Slack premium, Moz and more.
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Now, if I need room in my budget, I can probably cut a tool like Evernote just because it’s not essential to my business. I can annotate it freely. I’ll just lose some functionality. But if it means you have to spend an extra $50 on Google Ads, it might be worth it.
Try to get rid of tools that aren’t essential or tools that don’t help you convert users into customers and use that extra space to shape your Google Ads budget.
Earlier in this post, I gave you an example of my monthly costs for a sample campaign.
On the other hand, you can target the same keywords, but limit the budget and your bid is low, because your budget is also limited.
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By focusing on the most relevant ads and landing pages, you can increase sales and revenue even with just a few hundred dollars a month as your budget.
Better to start small
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