We all want to stay relevant. Social media has taken our attention span and shortened it to about 5 seconds. Which means reaching a customer may be easy, but holding their attention, that’s where the water gets a little murky. While some businesses are spending thousands of dollars on ads, others are spending as little as $50. So what’s the catch? The honest answer is… it depends. Factors such as your business goals, budget, target audience, and competition will increase or decrease your budget.
Before starting Google Ads, it’s vital to have a well-defined budget and a clear idea of your goals to avoid overspending. Your budget can increase as you become familiar with your campaign’s performance. To get started you will also need to:
- Conduct thorough research on your target audience by researching their online behavior to get relevant keywords,
- Analyze your competition’s advertising strategy and keywords in addition to their target audience to help you make informed decisions on bidding and budget allocation,
- Have a budget that is realistic but also aligns with your business goals (revenue and advertising),
- Research your traffic needs (how many people need to visit your website in order to reach your goals),
- Make a list of keywords (we suggest a spreadsheet to monitor and track performance and spending)
Ultimately, the amount you spend on Google ads is up to you. Keep your goals and expectations realistic. You could start your campaign with $500, but it’s important to regularly monitor your spending and adjust your strategy accordingly to ensure a positive return on investment. Your focus should be on creating high-quality ads that are relevant and provide engaging content to improve your ad’s performance. Use a spreadsheet to regularly track and analyze your ad’s performance. Adjust your budget and optimize your ad campaigns as needed.
A Google Ads expert or agency like Quartz and Clay, can help you develop and execute a successful advertising strategy, as well as make the most of your budget.