A Click is Worth 1000 Views!
Do you ever get bogged down in acronyms? In today’s world of talking through text, there is definitely no shortage of LOLs and BRBs to make you go OMG!
In our business, the acronyms we hear a lot of talk about are SEO/SEM. This week, we wanted to chat a little about SEM and how you can apply this marketing strategy to your business. By knowing what you’re doing with SEO/SEM, you can position yourself to make a little more $$$ (ya, we know dollar signs aren’t technically an acronym, but it works!)
The world of SEM
SEM stands for search engine marketing. Search engine marketing is essentially paid SEO (search engine optimization). This paid service is typically offered through search engine providers, the big three being Google AdWords, Bing Ads, and Yahoo: Search Ads. SEM also includes second-tier paid marketing through social media outlets, but for today we’ll focus on paid search engine services.
If you are starting out with a new SEO strategy, SEM is a great way to boost traffic for specific keywords and search visibility to your site while you wait for your SEO efforts to increase organically over time. SEO is all about the long game. You can set up a paid account, create a keyword campaign, and gain top-of-page placement with a strategic bid. But of course, that comes at a cost. Those costs vary depending on the demand and competitiveness of your keywords. I bet you are having flashbacks to the supply and demand lessons in Economics right now, huh?
When working with SEM platforms, there are costs associated with how many people see and interact with your ad. Most SEM ads are sold based on PPC where you are charged CPC and occasionally there are CPM advertising options as well. Great, but what do all of these acronyms mean?
PPC most often refers to pay-per-click. However, sometimes this can also mean pay-per-call, especially when running advertisements on mobile devices that lead to a direct call to your company. With PPC advertising, your cost is based on the CPC or cost-per-click. Your cost per click is determined by how much you bid for that specific keyword… a good bid can vary a lot, especially in competitive markets. Most services, like Google Ads, have tools that can help you optimize your bids and your budget because can be difficult to balance creating competitive bids and not overspending on your advertising.
CPM campaigns are based on the cost-per-thousand-impressions. If you’re like us, and not a wiz at roman numerals, then you may be scratching your head with this one. The M in CPM represents the Roman numeral for 1000. Who knew! With this option, you pay for the number of people that see your ad. The cost is generally lower for CPM, but there is a drawback to that cost saving. You are paying for people to see you…meaning that your ad was placed on the top of the search results when they searched your keyword. That doesn’t guarantee that they actually read your ad.
When considering CPM versus PPC, you may be tempted by the lower costs of CPM. We get this, but generally, PPC is a better choice because you are paying for an action! You pay when people interact with your ad and move to your website or make a call. After that, it’s all up to you to grab the sale and make the investment and hard work worthwhile!
As you can tell, there is a lot more to SEM than a nice little acronym. Feeling overwhelmed with all of it? Woodchuck Arts is happy to help! In fact, it’s kind of our thing. After all, we want to see you ROFL and not RIP (need translation?) when dealing with your online marketing. TGIF( that one you know)!
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