What is PPC?
PPC stands for Pay Per Click and is a digital marketing model in which when a potential client clicks on your Ad your are charged for said click (this is important to note that your Ad can be seen multiple times without spending money, which can help branding in some cases).
One of the most popular platforms of PPC is on Google within their search parameters, you will probably recognize them below:
How much does a click cost?
Clicks can range from cents to hundreds of dollars depending on the industry.
The 20 most expensive keywords categories with the highest search volume (i.e. the most used keywords) and highest costs per click, thereby netting Google the most money, are:
Insurance (example keywords in this category include "buy car insurance online" and "auto insurance price quotes")
Loans (example keywords include "consolidate graduate student loans" and "cheapest homeowner loans")
Mortgage (example keywords include “refinanced second mortgages” and “remortgage with bad credit”)
Attorney (example keywords include “personal injury attorney” and “dui defense attorney”)
Credit (example keywords include “home equity line of credit” and “bad credit home buyer”)
Lawyer ("personal injury lawyer," "criminal defense lawyer)
Donate ("car donation centers," "donating a used car")
Degree ("criminal justice degrees online," "psychology bachelors degree online")
Hosting ("hosting ms exchange," "managed web hosting solution")
Claim ("personal injury claim," "accident claims no win no fee")
Conference Call ("best conference call service," "conference calls toll free")
Trading ("cheap online trading," "stock trades online")
Software ("crm software programs," "help desk software cheap")
Recovery ("raid server data recovery," "hard drive recovery laptop")
Transfer ("zero apr balance transfer," "credit card balance transfer zero interest")
Gas/Electricity ("business electricity price comparison," "switch gas and electricity suppliers")
Classes ("criminal justice online classes," "online classes business administration")
Rehab ("alcohol rehab centers," "crack rehab centers")
Treatment ("mesothelioma treatment options," "drug treatment centers")
Cord Blood ("cordblood bank," "store umbilical cord blood")
97% of Google's revenue comes from advertising on Google sites. In the last four quarters alone (Q3 2010-Q2 2011), Google brought in $32.2 billion in total advertising revenue.
Generally most industries will range from $1-$10, which also is dependent on population density and your own competition. Overall US averages are $1-$2, but for example dentists might pay $3-$5.
How to I spend less per click than industry standard and/or competition and gain more leads?
Use Negative Keywords
Ad Text Optimization
Landing Page Optimization: The average conversion rate for just about anything on AdWords is around 2%. But we often see landing pages converting at the 20% or even 30% range.
Does PPC need constant attention?
Short Answer: Yes
PPC like any form of digital marketing is swayed by the rules of the digital law, whether that be algorithmic changes or trends.
A tip for keyword research pertaining to this is to start out with the shotgun approach for your industry and try and think of as many potential keywords that might bring clients to your doorstep, than wittle down or use the sniper rifle to pick the best performing keywords. This means it takes time to get it right, similar to a website, but often in a quicker manner.
Additionally, always be looking for new keywords and different iterations, keywords like “vet near me” used to be non-existent but with the way mobile (think cell phones to smartphones) has taken over have become even more important to bid on.