Are you looking for ways to improve your revenue from advertising campaigns? Chances are you landed in the right place. Advertisements have a huge potential of generating revenue and bringing more business opportunities.
People are using them like their business’s life depends on it, and in a way, it does. And that’s why they are being used everywhere, on social media platforms like Facebook, Instagram, Twitter, LinkedIn, and quora or internet search engines like Google or Bing.
All these platforms and search engines are becoming more and more flexible towards the integration of advertisements. They are being used excessively by everyone, whether it’s a small business or a well-established enterprise.
Advertising serves the user well, and that’s why you can see a surge in their application. The benefits of Google Ads are in abundance. The ads and campaigns are integrated into the search engines and leading platforms so well that they have become the major source of extracting revenue and generating traffic.
And that’s why it is essential to track their efficiency because if these paid campaigns are not yielding adequate returns, then it’s just flushing out your money into waste efforts, and continuing to do so would be stupidity. But how do you find out if your advertising campaigns are working for you or not?
A marketing metric called ROAS helps you track the return on ad campaigns and help regulate the cost spend for higher returns. But before we jump into the ways to increase your ROAS, let’s understand what is ROAS is and why it is so important.
What is ROAS?
Return on Ad Spend (ROAS) is an effective marketing metric that tells you how many dollars you will probably get in return for every dollar spent on advertising. It’s an effective marketing evaluation tool that lets you determine the efficiency of a particular ad campaign, keyword, or ad. And it gives a detailed insight into its performance and effectiveness.
How can you increase your ROAS?
There are certain aspects or approaches through which you can increase your ROAS.
The aspects are:
- Increase the revenue generation while maintaining the cost.
Spending more for lower returns is not a sign of growth, and by doing that, you might just be wasting your money. You can try to make some changes in your existing ad campaign to generate higher revenue without spending more. The current expenditure will provide higher gains.
- Maintain the revenue levels while lowering the cost.
Only increasing the clicks or traffic is not enough for increasing revenues. You also need to lower the cost to make it more effective. Opposite of the aspect above, you can eliminate the excessive amount and lower your spending on ad campaigns while maintaining the returns.
- Lower the cost while Increasing revenue.
The other aspect would be to aim at cutting down the cost and increase the revenue. ROAS helps you determine the elements which are underwhelming in your campaign strategy. You can increase the revenue by eliminating them or making some changes.
Any of these three aspects could be a possible strategy for you to increase your ROAS. The following are the ten tactics you can use to make it come true.
Pay attention to the mobile-friendliness of your website.
It’s needless to say that smartphone usage is sky-rocketing, and most customers do their online searches on their smartphones, so your website must be mobile-friendly. You need to optimize your site to enhance the mobile-shopping experience of your audience. It doesn’t matter what kind of ads you are running on your site. If they are not converting the clicks into customers, it’s not worth it.
Effective use of bidding strategies
Bid strategies are different aspects in which you can approach your bids or campaigns. You can focus on Cost-Per-Click (CPC), Cost-Per-Action (CPA), maximizing impressions, or maximizing conversions. You can concentrate your efforts on any of these approaches, and your actions will start to yield better results.
Analyze your competitors
What you are doing, chances are your competitors are doing the same and maybe better. Several tools can help you find out what keywords they’re ranking for, their offers, and the ad campaign they are running. You can make it work for you because attracting traffic is not the complete game. The ads you use should help generate revenue as well. Maintain a healthy competition with the competitors.
Run compelling ads
The most fundamental aspects of ads are the ads themselves. The Google ads you are posting should not be just for the sake of posting. The ads must be compelling enough to attract people. Understand your customers’ needs, offer solutions, include an emotional touch, show statistics, get a little creative with your ads and reach out to them.
Refine your keywords targeting with Google Ads
First of all, the Google ads you are using should be relevant to your audience, and the keywords you use should complement those ads. Perform in-depth keyword research for your Google Ads. It’s not always necessary that the high-volume keywords will provide high returns. Instead, they might cost you more, and you will have to face high competition due to high volume. So, invest in ideal keywords that have significant search volume but not extreme competition. The chances of visibility and conversion will be high with such keywords.
Split your budget
Splitting your budget is more important than you think. It helps you stay on the safe side. Just like you don’t put all your eggs in one basket, you don’t allocate your entire budget to a single campaign or a specific location. Optimize your budget according to locations and ad groups. That way, you can measure their performance separately, and you won’t end up exhausting your budget without and significant gain. With some tweaks to your Google Ad campaigns, you can get effective results.
If you have a business concerning a certain group of people and your website only ships your products to certain places. It makes sense if you pay only for the clicks coming from the people living in the areas you serve. Why would you pay for the clicks from people who can’t buy your products because they are not available in that location? You can target specific geographical locations. This way, you will avoid paying for the clicks from the people living in other areas you don’t serve.
Optimize landing pages
Optimizing landing pages is vital because they form the first impression, and you don’t want to mess it up. It’s like that the keywords, ads, and the landing page are the pieces of the same puzzle, and if these pieces are not placed in their right place, you won’t achieve a good conversion rate. Remember, getting clicks is only the first step, but if you do not provide the visitor with an optimal experience, they will leave without completing the transaction. The ads and the landing page should complement each other for an overall better experience.
Focus on Conversion rate Optimization (CRO)
Customer abandoning their carts is not a good sign, and in no way will it add to your revenue. Pay attention to the conversion rate optimization and formulate CRO strategies to improve cart abandonment rate. The number of clicks alone won’t help if the conversions are not realized. Study and analyze the abandoned carts and provide offers. You can apply other methods like seasonal offers, triggered offers, live chat, down selling, and retargeting to improve the conversion rate.
Use exclusions and negative keyword feature
Exclusions and negative keywords are great tools to cut your cost and maintain efficiency. By using exclusion, your ads won’t appear in those places which are irrelevant to your business. If your Google ads are running at places that won’t yield any return, then it’s a waste of money and effort. Similarly, the negative keywords won’t show your site in searchers not related to your business, hence save on unnecessary clicks. There’s no point in paying for the clicks that do not convert into customers.
In the article above, we attempted to discuss the major ways to increase your ROAS with Google Ads. These are among the most effective and high-yielding ways.