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Pay Per Click Marketing - Does It Work For Industrial Companies?
I discovered pay per click marketing in late 2001, launching my
first campaign with Google Adwords. At the time, I was managing
a search engine optimization (SEO) project for an industrial
controls manufacturer and immediately recognized the potential
of this new channel.
I opened a Google Adwords account, compiled a list of keywords,
and developed a small group of text ads. Within five minutes of
my campaign going live, the four lines of text that I had
crafted into an advertisement were appearing on the right side
of Google's search results. More importantly, targeted visitors
began trickling into my client's website; the power of this
marketing platform really struck a chord with me. I had achieved
visibility on Google's highly coveted first page using the same
keywords being optimized through my "natural search" project.
Let me distinguish between paid listings and natural search
listings - I am not suggesting that they are equal in value, but
rather competitive in value. Natural listings enjoy a higher
perceived relevancy in the eyes of search users; however pay per
click advertising, when managed properly, affords businesses
immediate penetration into desirable search engine result pages
(SERPS). Additionally, paid search marketing is much more
flexible in its approach to targeting markets and budgeting for
return on investment.
Search engine optimization is a valuable strategy that can
deliver a strong return on investment when properly managed.
Businesses can cultivate a web presence that organically ranks
high in the search engine results pages, delivering requests for
quote and product sales. By the same token, the effective
implementation of SEO is a long term strategy, often requiring
months of development and significant project costs before a
return on investment is realized.
Pay Per Click marketing on the other hand is completely
measurable, making it possible to monitor profitability on a
real time basis. Furthermore, the pay per click model enables
marketers to revise their advertisements, budgets, and target
audience(s) on a real time basis. This flexibility, when
properly harnessed, is the key to an industrial manufacturer's
success in the world of Internet marketing.
Most business-to-business companies sell a spectrum of products
or services, organized under different categories, and appealing
to slightly different customers. Traditionally, industrial
manufacturers relied on trade journals and tradeshows to promote
their goods and services. Unfortunately, the costs associated
with these marketing channels are proportional to the number of
products or services being advertised.
For example, if a pump manufacturer wanted to showcase their
entire product line at a tradeshow, more booth space would be
necessary to accommodate all of the pump types. Additional costs
might also include the extra freight charges associated with
shipping the pumps to and from the show. Ultimately, the
resources (read = time & money) required to actively promote a
spectrum of products through tradeshows are directly linked to
participation costs.
This same dilemma extends to trade journal advertisements, where
marketing multiple products simultaneously translates into
multiple advertisements and escalating costs. If the same pump
manufacturer wanted to target market each type of pump they
sell, they would either need multiple advertisements or one very
large spread. Promoting an entire product line through a single
print advertisement typically dilutes the marketing message and
cripples the ad's return on investment. By the same token,
running multiple advertisements or larger multi-page spreads
cost money.
Furthermore, successful marketing through tradeshows and trade
journals depends on more than just money. For example, tradeshow
participation is only effective when the person manning your
booth is a trained salesman, schooled in the techniques of
business development and lead generation. Simply placing your
lead engineer or technical support rep at a table full of
products is not going to produce sales...at least not in the
capacity you expect. In turn, some training may be required to
maximize your presence at an exhibition.
Printed advertisements are typically created by graphic artists
and experienced copy writers who can communicate a product's
benefits and features in a professional and practical manner.
These skills are often sub-contracted and usually require in
house participation to ensure that the marketing message is
correctly expressed. Aside from the high hourly costs associated
with graphic designers and copy writing professionals, your
sales team and/or engineers will end up dedicating a percentage
of their time reviewing the proposed creative, making
suggestions, and ultimately approving the finished advertisement
- and all of these steps happen before the ad is even published.
Both scenarios illustrate the shortcomings of these traditional
advertising channels...expensive, inflexible, and a return on
investment that is difficult to measure. Furthermore, successful
marketing through tradeshows and trade journals depends on a
wealth of skills and
expertise that often cost money. Whether
these additional costs come in the form of sales training or
graphic design and copywriting services, the end result is
stiffer marketing costs, coupled with poor ROI tracking.
What can an industrial manufacturer to do about escalating
marketing costs and aggressive competitors? I can think of three
words for you - Pay Per Click.
Coined by sales professionals as the purest form of direct
marketing, pay per click advertising addresses industrial
manufacturers' three biggest concerns - cost, feedback, and
return on investment.
With pay per click advertising, industrial manufacturers can
regulate their marketing spend on a daily, weekly, or monthly
basis. Preset budgets make it easy to control costs and
establish a baseline for measuring return on investment. When
advertising through the Google or Yahoo paid search network,
return on investment is easily calculated through comprehensive
reporting that provides all of the information required to make
smart decisions about how and when to optimize ad dollars,
driving more leads, requests for quote, and sales.
The difference between pay per click marketing and tradeshows or
trade journals is the extraordinary control available to the
advertiser. An experienced pay per click manager can manipulate
the quality and volume of search traffic that is driven to an
industrial manufacturer's website. Through keyword research,
targeted ad copy, and an effective display URL, pay per click
managers can "choose" the audience seeing their advertisements.
Furthermore, they can determine the price (value) of each
prospect clicking through to the company's website, relative to
the product or service being offered.
At the end of the day, it boils down to simple math...lets
compare tradeshows and trade journals to Pay Per Click
advertising. On average, attendance at a single tradeshow costs
the average industrial manufacturer approximately $4,500; this
figure includes registration fees, sales staff, and travel
expenses. Additional costs not covered in that figure may
include the booth display, marketing materials, and promotional
items.
A trade journal advertisement costs approximately $3,900 for a
half page, four color placement in a single issue. Expenses not
covered in that figure may include ad photography, graphic
design, and copy writing services.
Pay Per Click marketing on the other hand is not associated with
average costs because each campaign is customized to meet the
unique needs of the industrial advertiser. Instead, we'll look
at the average cost per click, which represents a qualified
(interested) visitor accessing your company's website for more
information on the product(s) advertised. Generally speaking,
most industrial manufacturer's can expect to pay between 25 to
50 cents per click.
In other words, imagine a tradeshow whose participation costs
were based solely on the number of people who approached your
booth looking for more information on the specific products your
company sells. From the perspective of a trade journal
advertiser, your costs per issue would be based on the number of
people who actually saw your printed ad placement and then
accessed your company's website looking for more information on
the specific product(s) being promoted.
The quick math suggests that in order for tradeshows to compete
with Pay Per Click advertisements, your company's booth should
be visited by at least 9000 ($4,500 x .50 = 9000) interested
prospects per show. By the same token, each printed ad placement
in a trade journal should yield at least 7,800 ($3,900 x .50 =
7800) targeted visitors to your website. Apart from the doubtful
likelihood of either scenario, the absence of detailed reporting
through either of these advertising channels makes it impossible
to accurately track their ROI performance.
In summary, it would be unfair to suggest that a direct
comparison can be made between any of these marketing channels.
Tradeshows represent a unique opportunity to form personal
relationships on the front lines, while enjoying valuable face
time with associates. Neither a trade journal advertisement nor
a pay per click marketing campaign can provide these benefits.
Trade journal advertisements are a great branding tool,
cultivating perceived value and expertise that translates name
recognition into product sales.
In closing it is most important to recognize the individual
strengths of these marketing channels - however it should be
noted that pay per click is the most cost effective and
measurable form of advertising available.
For more information on Industrial Pay Per Click services,
please contact Mr. Wolfe at pwolfe@IndustrialClicks
.com or visit the company website at www.IndustrialClicks.com
a>
About the author:
Payton Wolfe is a co-founder of IndustrialClicks.com and their
Director of Marketing Campaign Strategy.
Contact Mr. Wolfe with questions at pwolfe@IndustrialClicks.com
or visit the company website at http://www.IndustrialClicks.com
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