You have your keywords, you’re tracking conversions and you’re adjusting your bids accordingly… or are you?

Are any of your keywords on broad or phrase match?  Are you simply adjusting your bids based on the performance of the keyword on which you’re bidding?  Then you’re potentially throwing away a lot of money.  Efficiency in PPC is all about analysing data, so if you’re only looking at surface level data, you’re missing the big picture.

Here’s what I mean: with broad and phrase match, several search queries are being matched against the term you’re bidding on.  If your keyword is something like “shoes” and is being broad matched, just think of all the search engine queries that could potentitally contain the word shoes!  It’s a rather severe example, but I’m trying to make a point.

Say you’re bidding on Keyword X, and Queries Y and Z and both being matched to it.  You’ve spent $110, received 120 clicks and made 6 conversions worth $30 each.  You’ve spent $110, made $180 and might feel pretty good about that.  Let’s dig a little deeper and see what’s actually happening:

Keyword X

• Query Y: 100 clicks, $100 in spend, 1 conversion
• Query Z: 20 clicks, $10 in spend, 5 conversions

So while you’re bidding on Keyword X, it’s actually Query Z that’s making all the money while Query Y is losing it.  You think you’re bidding on a single term, but in reality you are placing a bid based on the aggregate performance of all the queries being matched to it!

The solution of course is to gain this kind of insight into the actual search queries your keywords are getting and their performance.  Then it’s simply a matter of adding those queries as exact match keywords so that you can bid them appropriately.  In the above example, Query Y converts and is probably worth holding onto at a much lower bid.  It will convert far less often, but will at least turn a profit.

So how do we go about gaining this insight?  If you use Google’s conversion tracking, you can simply run a Search Query Performance report in the report center.  This will show you some of the search queries triggering your ads along with some performance metrics like CTR and conversions.

If you’re running ads as an affiliate or are not using Google’s conversion tracking, you might want to look into a product like Xtreme Conversions.  This program tracks each individual search query and matches a TID based on the query, engine, referring domain (great for “search partners”) and the bid keyword.  You can then match the TIDs from your conversions and see which search query and bid keyword produced it.

This info should be plenty to take your keyword targeting to the next level and improve your PPC efficiency dramatically.

As someone who works mostly solo, I’ve found that it’s easy to lose sight of details when you’re planning big things.  Many of us have several projects going on at once, sometimes a dozen or more, and making sure you’re doing everything you need to for each can be difficult to say the least.  This difficulty leads many to a point where they have a bunch of products launched, blogs up and running, PPC campaigns bring in traffic, etc. and we think we’re… done.

You’re never “done”.  Never.

Entrepreneurship, especially online, can lead to scattered efforts.  In searching for ways to make the most money with the least effort, we learn tons of different business models and techniques and we want to try them all.  We dabble in a little of this and a little of that, rarely focusing our efforts on one thing long enough to refine it to a point where it could actually earn you a decent paycheck.  Once you get to that point, the point of entrepreneurship overload, the point where everything is running, but nothing is running quite as well as you’d like…  It’s time to stop and get honest with yourself.  It’s time to ask yourself, “what haven’t I done?”

I don’t mean that you need to start planning your next income stream (you probably have too many of those laying around half-done already), I mean you need to look at projects that are “done” and figure out exactly why they aren’t.  It might seem a bit overwhelming at first, but it doesn’t need to be.  Let’s take it step by step:

1. Get Organized

Make a list of every revenue stream you own.  Every info product, every blog, every e-store, etc.  For me, I have a handful of ebooks, software, a half dozen or so blogs, and my consultancy.

2. Get The Big Picture

If you don’t already have one, I suggest downloading a mind mapping program.  Both Mac and PC platforms have free, open-source versions that will do the trick.  You’ll want to create a separate mind map for each of the revenue streams you made in step one. Do these one at a time and don’t start the next one until you finish.

For each revenue stream, make one node for the product and one for marketing.  From there, start mapping out all the major components of the product and its marketing as separate sub-nodes.  If you’re working on a mind map for an ebook, add the ebook, any bonus materials that come with it, customer support, etc.  If it’s a blog, you might want to list your posts as one item, and then list out any guest writers, resources, special features, etc.  Don’t forget to add how you’re monetizing your blog as well- ads is one node, affiliate links is another and so on.

List out all the marketing channels you’re using including SEM, SEO, email, affiliate programs, print ads, mailings, press releases, radio, tv, and anything else you’re doing.  Don’t be vague about it though, list these channels by vendor.  Working with Google Adwords is totally different than working with Yahoo! Search Marketing, so don’t lump them together.

3. Get Critical

Once you have this nice, detailed mind map of your revenue stream, it should be pretty easy to see everything you’ve done to get this thing going, and everything you haven’t.  You’ll be able to see products with no bonuses, no customer support or no mailing list.  You’ll see blogs not being properly monetized or promoted.  Before you forget any of these things, start adding notes to the items that need improvement or adding new nodes for things you need to add.  You can even print out the mind map and start writing notes on it if that works better for you.

4. Get Organized… Again.

Take all the notes and nodes you’ve made, and turn it into a to-do list.  Take each item and split it into bite-sized tasks; creating a sub list of separate to-dos.  If you need to add a mailing list, the item should be called “mailing list” with a list of tasks like “write follow up series”, “create opt-in form” and “automate lead segmentation”.  Prioritize lists that have the highest potential upside over everything else.

5. Get to Work!

Start working your way through your lists!  Do at least one thing every day.  Don’t think about how much is left to do, just focus on checking off one task each day.  Before you know it, you’ll have turned your once limping revenue stream into a well-oiled cash machine.

You might want to work on the list from one mind map at a time.  You might want to create a list from each mind map and rotate lists each day.  Hell, you might want to sit down and see how many of these tasks you can crank through in one sitting.  The point is, until you sit down and analyze what you’ve done and what you still need to do, none of your revenue streams is going to do much for you.

Analyze, itemize, prioritize, execute… itize.

Commission Blueprint

I’ve been hearing some buzz about yet another product that promises to teach how to make a gazillion dollars using Google and Clickbank.  Most of these type of products are either rehashings of old techniques, or just plain rubbish.  What caught my eye about this one is that some people I trust have been promoting it and saying it’s the real deal.

The gist of it is that these guys say they’ve developed their own system for making like $100,000 per month promoting one single Clickbank product as an affiliate, and that it’s super easy to replicate.  And yes, you have heard that all before, and so have I.  Like I said, I wouldn’t have given it a second look if it weren’t for some of the people I’ve seen singing its praises.

I haven’t had a chance to check it out yet, but it looks like being offered at an intro price of $77 for the time being, going up to around $100 soon.  I’ll probably check it out when I get back from the long weekend.  In the meantime, take a look for yourself and leave your thoughts in the comments section below.

http://www.chriswight.com/blueprint

I’m in the planning stages of a major update to my ebook, The Content Network Cure.  I’ve been developing some new strategies that will help improve conversions rates while lowing costs- not bad, eh?

This update will include a piece of software and a brief report on how best to use it.  I may or may not bundle it together with the original ebook, and I may lump the new report into the ebook as part of a new edition.  Like I said, I’m still in the planning stages.

I’m currently testing the new strategy myself, and it appears to be solid, so I can’t wait to pass it along to you!

I’m a fan of Henry Rollins; more people should be. Even if you never listened to Black Flag, Rollins Band or his spoken word CDs, even if you’ve never read any of his books, even if you’ve never watched his show, you simply have to respect a man willing to uninhibitedly express himself with zero fear of what others think.

Here’s a great example. If you’re interested in making money online, listen very carefully to this rant and think about how it directly affects you as an internet entrepreneur.

Here is a great little YouTube video posted on the Warrior Forum by Paul Short. I have yet to really dive into any serious sales letter writing, but this is both funny and a good eye-opener for anyone about to try their hand at it. Great job, Paul!

In my last post, we went over the basics of bid management systems and my search for the right tool for the blossoming entrepreneur. I came across many tools and two bubbled up to the top. One I’ve had a chance to test, one is still pending. Here’s my experience so far.

The first tool I tried is called ClickSweeper. ClickSweeper has a very simple and intuitive interface, particularly if you’ve had previous experience with a bid management tool. If you’re new to this, their customer service staff is very attentive and eager to help in any way that they can. The system tracks conversions using Google and Yahoo’s own conversion tags. This is especially helpful if you’re running campaigns as an affiliate, as many site owners already support these engine tags or are happy to implement them. The price is very reasonable- only $100 a month for the first 500 keywords managed, and $10 for every 100 extra keywords. Even better, they offer a four-week, free trial.

Despite all these pluses, however, ClickSweeper didn’t really deliver where it counted- ROI. While the system was actively managing bids, it never managed to consistently reach the very reasonable 125% ROI goal I had set. The other drawback is that, for the time being, ClickSweeper does not support the new version of Yahoo.

Next up is the upcoming tool from SoftwareProjects.com. In the comments of my last post, a rep from this site offered to include me in their beta test of this new tool. Unfortunately, I have not been able to get in touch with anyone there to find out when the test starts. Iffy service aside, SoftwareProjects.com is a very cool site with apparently everything you’d need to run a business online. Seriously, everything. The only other drawback, besides no one getting back to me (hint!), is the lack of detailed manuals for all of the tools they offer. The potential is obvious, but the documentation is sparse at best.

Have any other suggestions for tools? Leave them in the comments and I’ll be sure to check them out!

I’ve begun shopping for a paid search bid management system. There are a bunch out there, and I’ve used a few of the biggies in my agency work, but I’m trying to find one that suits the independent marketing like me.

A bid management system is a piece of software that automates the process of bid optimization. It syncs with your search engine accounts to track click and cost data, and can be used to track the conversion on your site as well. When conversion tracking is incorporated, you can set ROI rules so that the system can calculate bids that will give you the desired result. It might sound like an automatic money machine, but there is some finesse involved in setting up the rules. If not done carefully, your ROI goals will be achieved at the expense of total sales volume.

150% ROI? Great!

You only spent $10 to get it? Not so great.

One of my primary challenges in choosing a bid management tool is my budget and the cost. Many of these systems are only for clients that reach a minimum budget threshold, which I do not reach. These same systems can be extremely expensive if you’re only running a couple small revenue campaigns.

So I’m looking for something designed specifically for the DIYer, and costs perhaps as much as $100 per month. If you have any suggestions, please share!

There has been some buzz lately about the latest release of Internet Explorer, IE7. It seems that the default setting of the browser is to block all 3rd party cookies. This is presumably to prevent a lot of ad/spy ware from infecting your computer. The only problem is that MANY online marketing systems rely on 3rd party cookies to function. These systems include almost all affiliate programs, conversion tracking and search engine bid management tools. Clearly, this situation has the potential to be disastrous for many interactive marketers- especially the little guys.

There are still more people using IE6 than IE7, so it’s not clear what, if any, effect this is having on the industry. If anyone has any news or data on this topic, please feel free to contact me.

I recently read an article at iMediaConnection.com about paid search cannibalizing organic search traffic. I think the article ignores the branding power of search. If the only objective in your search presence is direct response, then he might be onto something. If, however, you’re interested in building your brand recognition, the more visibility you have on a given search the better. A user might initially click through on a paid listing, an organic listing or neither, but the fact that your company appears all over the page for a given keyword, however, means that you’re multiplying the number of impressions per query. Add in some SLPR, and you’ll be benefiting from a “dominate the page” strategy. Your brand is now on its way to becoming synonymous with that keyword.

“…we found cases where half or even more of the paid traffic would likely have arrived from organic listings if the paid ads were not present.”

To me, that statement is pretty meaningless, and negates most of what this guy was saying. What kind of study uses the words “would likely”? How do you quantify that? How many cases?

Sounds to me like Gary Angel is trying to drum up some awareness for SEMphonic by publishing a little controversy.