QUESTION: How many times have you spent money on ads somewhere and got absolutely no ROI (return on investment?
I think I can say from experience that we’ve all been there a time or two. Now, it’s no doubt that we all want to make a return on our investments to stay in business. So here’s what needs to happen.
Let’s use Google Advertising as an example…
Before even thinking of taking out your card to do an add spend, you need to do your due diligence.
Here are a few things you need to think about:
- Is this a good market to be advertising in?
- Is this market hot enough with a low competition where I can still make some money or is it too crowded?
- How much money should I really spend?
- Where is the best place to advertise for this particular niche?
Let’s go over the 4 things I just mentioned in more detail
Is The Market Good?
First head down to Google and do a quick search for something similar to what you want to sell and see what kind of results you get. Are there many sites trying to sell that particular thing? If you are selling something that needs to be shipped. Go check out Ebay & Amazon and see what’s going on there for the same search criteria that you just search for on Google. Research your ass off until you know that you’ve got a good selling product to sell.
Is This Market Hot With Low Competition?
To check on this step you will need a Google Adwords account set up (don’t worry it’s free!) This is a free tool that doesn’t cost you a thing. And remember, the less overhead expenditures you have the more money you make right? You can get your account set up by going to Google Adwords.
Once you have that setup, look on the top bar for the “Tools” tab. Click that and then select “Keyword Planner”
You will then see a few options
- Search for new keywords using a phrase, website or category
- Get search volume data and trends
- Multiply keyword list to get new keywords
In this case, we want to use the second option “Search for new keywords using a phrase” this way we will know how many searches for those terms are being searched on Google every month. This will tell us if it’s a HOT niche or not.
And you will also be able to see what the bids are for those niche keywords so you will know if you can still make money or if it’s too populated already.
Type in your keywords and then click the blue “Get ideas” button.
A good foundation to use, as for as niche searches go, is to look for a niche that has less than 1,000 searches a month, and no more than 50,000 searches a month.
I would also advise you to look for searches that are getting no more than 15,000 a month if this is your first time trying to rank for a niche on your website. Because generally, the fewer searches a niche gets, the less competition they’ll be on Google. So you will have an easier time ranking for that keyword term.
I hope this blog sheds a bit of light on what you should do before spending your hard earned money on any advertising.
Happy Marketing 🙂