Let's face it, when most of us were in school, telephone books were the most effective form of advertising, and today's search engine was barely imagined.
So it is not surprising that most people who pick up the search marketing bill for AdWords are challenged
to find the right strategies, to ask the right questions, and to unlock the best ROI possible.
While econsultancy rates paid search marketing as one of the top three channels for most effective return on investment, 44% of advertisers still report poor to average results.
As an 18 plus year paid search marketing expert, I feel like I'm running around here like a unicorn, so let me share some magic and together let's add over 100 billion dollars to the economy.
Whether you manage AdWords for insurance lead generation yourself or you task someone else to do it, go find out what your Quality Score is.
If you need help to find it, go look at your most expensive keywords (top 10 for starters). You may need to modify your columns to see your rating.
Why Should You Care About Quality Score?
You will unlock a significant Google Discount on advertising when you nail that 10/10 quality score. About 90% of Google's revenue comes from search advertising, Google has about a 90% market share on search engine use, and 36% of people who click on the paid search ads do not even think they are advertisement.
When you get the best quality score in your keyword's search auction, you can show up above your competitors and pay less per click, per lead, and per sale.
If you care about paid search marketing as an insurance lead source, you will want to know that the more effective your ads are, the less you have to pay, and the measure of this process is called Quality Score.
Quality Score is a combined rating of:
- Your keyword effectiveness
- Your Ad copy / extension effectiveness
- Your landing page effectiveness
Now go measure your quality scores. If the average for your top most expensive keywords is less than 7, you are probably overpaying because your campaigns have are not properly configured.
Recently my quality score analysis summary showed for every point of quality score improve there is a corollary 11% advertising discount, plus advertising is made more effective.
Did I say something about adding over $100 billion to the economy?
It goes like this:
Google's search revenue is an estimated $80.4 billion, and 44% of poor to average accounts for over $35 billion or almost $39 billion back in revenue a little over breakeven (1.1 ROI).
Advertisers who do AdWords well get a 4.41 lifetime ROI, so that nearly wasted $35 billion in poor to average ad spend could be $156 billion if advertisers would just fix their quality scores. Together, we can add over $117 billion into the economy to go buy ice cream or something.
Keep in mind these are average industry statistics, I trust you insurance entrepreneurs can get a much better ROI.
AdWords by itself is not a self correcting performance driven platform, it takes expert AdWords management to turn it into one.
I do provide AdWords management for Insurance Leads
if you need help.