The Outranking Share Bidding Strategy & How You Can Use It

The Outranking Share Bidding Strategy, it’s meant to do one job: automate your bidding to outrank ads. But just what does that mean for you?

If you’re in a competitive market and you want to make sure you rank above your competitors, then this strategy might be for you. You simply identify the competitor you want to outrank, and then you set a maximum bid limit. You also set how much higher you want to rank above your competitor.

In the event that two competitors are engaged in outranking share bidding strategies against each other, the maximum bid limit will be the safeguard. The maximum bid limit will put a cap on how much to bid on a keyword when a competitor is also running an Outranking Share Bidding Strategy. This will prevent your CPCs from drastically increasing. Without the maximum CPC ‘safeguard’ in place, you should expect CPCs to potentially get a lot higher.

Outranking Share Bidding StrategyOne caveat to using an Outranking Share Bidding Strategy is that you should be prepared to raise your bids. This strategy might not meet your goals if the budget is limited.

In the auto industry specifically, don’t set this to an OEM if you are hitting your budget cap. This is especially important against competitors’ OEMs. The reason is that competitor OEMs often have a larger budget and are set up with a large bid to begin with. However, if you have room in the budget, then maybe this is something worth considering.

Another case for use of this bidding strategy is in mobile-only campaigns. Most times you will have a general idea of who is taking that first or second position away from you on a mobile device. Simply identify who the main competitor is, set the strategy with a large enough budget, and then sit and wait for the results!

Bounce Rate: The Misunderstood Metric

Bounce Rate: the misunderstood metric

Today the internet is celebrating  it’s 25th birthday. In the early days, when people were still learning what makes the internet tick, they kept hearing about one metric: bounce rate – bounce rate – bounce rate. We were told that this was the metric we need to keep an eye on. High bounce rate was the smoke signal showing you may have issues on your site, causing people to view the page they landed on and leave. Even back in the early 2000’s bounce rate was a misunderstood metric, but 25 years later, in today’s world of online advertising, complex design, and extensive data, the relevance of bounce rate is only getting smaller and smaller.

How is bounce rate calculated? Google explains bounce rate like this” “Bounce Rate is the percentage of single-page visits (i.e. visits in which the person left your site from the entrance page without interacting with the page)”. To put that simply. If someone only views a single page or your website and leaves (bounces) that will increase your bounce rate.

bounce rate formula

Why Do People Think Bounce Rate Is Important? People assume if someone hits a single page and leaves the site, there must be something wrong with that page, why else would they leave and not continue on exploring the site? This is a legitimate question, but the answer depends on the situation. Maybe all the info the user needed was on that one page – Google doesn’t look at the amount of time they spend on that single page. I could spend 7 minutes reading about the 2013 Ford F150 you have in stock, call the dealership to book a test drive (which would be considered a success) but Google Analytics is going to show that as a bounce.

Bounce rate is even more watered down when you are running online advertising. Many online advertising campaigns target specific people searching for specific things. Landing pages for online advertising are designed specifically to remove the temptation of exploring the site. You want that user to see your ads, click to get to the landing page that is most relevant to the ad, and take the desired action; whether it be filling out a form, calling, printing off a coupon etc. If that person does the desired action, that is a success, a success by every metric except for bounce rate. This is why bounce rate is no longer the key performance metric you once thought it was.

So what metrics should I be using to determine if my site is working well? Unfortunately, there is no simple or single answer to this. You have traffic coming from many sources, and the different people from those different sources interact with the site differently. You may think time on site is a good metric, but you’ve noticed it go down. Is this bad? Maybe something needs to be done and let’s redesign your whole site! But did you also notice that the amount of traffic from mobile and tablet has gone up? People visiting the site on mobile spend less time on the site than those visiting from desktop, so now that drop makes sense. The solution is not to look at your traffic as a whole but to segment out the traffic. Look at the sources of traffic individually and whether they are going up or down. Look at what devices people are coming from, and check out behaviour flow to see how they are flowing through your site.

You should have access to your Google Analytics, your website provider has no good reason to keep that from you, so make sure you have access and go in and look around, if you see anything you don’t understand ask you website provider or drop us at Strathcom a line and we can help decipher the data for you. Data is power, but only if you look.

User viewing many pages online

Why Should You Hire an Agency to do Your AdWords?

Focus on your business knowing your advertising campaigns are in good hands!

Our Google Certified Paid Search Analysts have gone through extensive training internally, and are constantly learning new best practices, developing best practices for the auto industry, as well as investing in education and resources to make sure you succeed. Not only are we Google Certified for Google products, we are also well equipped to advertise on your behalf on other advertising platforms (Facebook & Bing).

Get an AdWords campaign that's tailored for your business

Continue reading “Why Should You Hire an Agency to do Your AdWords?”

Why You Can’t Afford to Skip YouTube

YouTube has about 16.6 million unique users in Canada; if you are not advertising your dealership on YouTube, you are leaving out this audience and these potential customers. Here’s why you shouldn’t skip YouTube.

Before you get into the reasons why YouTube is absent from your marketing portfolio, let me tell you that recent studies have shown that viewers retain 95% of information from video ads as opposed to just 10% from text ads. With advertisers being charged only when users watch their videos, YouTube is one of the most effective and cost-efficient channels to market your business and yet, surprisingly, is also one of the most underused channels in the automotive industry!

Users aren’t just watching videos, they’re also being impacted by them. About 70% of car shoppers say that YouTube influences their purchase decisions. YouTube lets dealerships reach new visitors who are not only interested in their business, but also eager to take action. With call-to-actions on video ads, YouTube also allows potential customers to connect with dealers to begin their car-buying experience. Studies show that 49% of vehicle shoppers who watch a YouTube video ad end up visiting a dealership.

Don't Skip YouTube
Don’t Skip YouTube

YouTube also allows dealers to remarket to specific audiences. This audience might include users who interacted with your ads and are much more likely to be receptive to additional brand messages. Remarketing can reach users who have already shown interest in your dealership and bring them to your website. By letting you reach your most valuable customers, this can lower your cost per acquisitions. And yes, we just touched on one of the reasons that should make YouTube very attractive to your dealership. It is highly cost-effective, costing you only pennies to get your message in front of interested buyers.

Google researchers found that 92% of vehicle consumers visit YouTube every month. With an eager and interested audience like that just waiting to be engaged by compelling offers and enticing visual messages, there are more than 16.6 million reasons why you should be advertising on the world’s second-largest search engine.

Start building an effective YouTube campaign with Strathcom Media today! Call our team at 1-888-914-1444.

Keyword Opportunity Analysis

keyword

The main question answered with an opportunity analysis on new keywords is: ‘How can I spend my money and not have it drowned out by competitors?’

If a search query involves the make of a vehicle, you can almost guarantee that ‘OEM’ and at least one other OEM-related keyword are in the search results page. This also means that local dealerships are probably bidding on those keywords too. The best keywords are keywords that are being searched for often, get conversions, and which you can place in top positions. However, to find those keywords, you have to do a little keyword digging.

One place you can start with is the tool, Ad Preview. You can preview keywords you believe will be less competitive, and it will give you a chance to see what your competitors are doing. Typically, terms in ad copy are used as keywords. So Ad Preview can give you an idea of what other keywords competitors are using, as well as confirm or disprove your hunches about potential searches.

While Ad Preview is a great tool to see what the search results will look like, you still need to figure out just how much traffic those keywords can generate. Keyword Planner can tell you the average monthly searches, and Google determines the level of competition. While you can’t use this tool to gauge the exact amount of competitors, you can use it to gauge if your money will be drowned out. The Keyword Planner has accurate enough estimations of what a cost-per-click would be so you can tell right away if you have the financial means to bid on those keywords.

As long as you utilize a combination of Ad Preview and Keyword Planner, you’ll get a reasonable understanding of potential new keywords for your account.

Want to get a deeper analysis to gain more actionable insights? Or other methods of finding new keywords? Contact the Strathcom Media team to learn more!

Strathcom Media, Your Premier Google Partner!

These days, it seems that everyone is a Google Partner. Google has recently revamped their partnership program, and we are excited to announce that Strathcom Media is now a Premier Google Partner – the highest possible partnership level! So, what does this mean, exactly? Premier Google Partner

It means that Strathcom Media has delivered strong client and agency growth. Google awards this status to small-medium sized businesses that are experienced in managing large campaigns.

What does this mean for our customers? First, it means that you can rest assured that we know what we’re doing when it comes to making the most of significant AdWords investments. It also means that Strathcom is going to have more Executive Business Trainings that will make us more knowledgeable and able to share more insights and recommendations with you!

For more information about our partnership with Google and how you can benefit from this partnership, drop us a line at (780) 433-8844 or  info@strathcom.com!

 

No Bullshit Here! Google Comes to Edmonton

Google Event

June 23 was our first Google Event in Edmonton and it was a huge success! This event was special not only because it was the first event of its kind in Edmonton, but also because it was the official launch of our non-automotive division – The UnAgency. Check out our full blog post, as well as our band new UnAgency website here!

 

Google+ Local – A Business’s First Impression

It’s time to buy a new car – you know your favorite brand and you’ve done your research on the models you want to try, but where should you start?

How does a customer decide which store to go to, the location, or even which phone number to call? With Google processing over 40,000 search queries every second, the possibility that a buyer may start on the web are extremely high. Google is currently being utilized by over 85% of today’s users, and can easily function as a primary connection between the customer and dealer.

Typing Into Google Search EngineBy typing a business into the Google Search engine, a quick search can produce millions of results for a user to choose from. But which one do they choose? A dealer who takes into account the importance of Google’s marketing ability will recognize that a proper search will pull up a link to the main website, quick links to many frequently sought out pages, as well as the convenient, easy to read Google+ Local page.

This area on the right hand side provides a first glance at the business. User friendly and appealing to the eye, the Google+ Local business page provides potential customers with quick links and more.

Professional photos, a map to the location, reviews, hours, and contact information give the customer access to everything needed to get a first impression and seamless accessibility to contacting the business.

Data shows that Google+ Local has had a steady increase in interest and users through to the year 2016. What better way to showcase a first look at your business than to do so with a strong development like Google+ Local!

From a business owner perspective, Google+ Local is easy to use and update. Plus enjoy the benefit of Strathcom Media tracking your reviews so that your business maintains a quick response rate.

Happy Customers with Google+ Local

Don’t overlook this simple business tool. Google+ Local is a first impression before the customer steps through the door!

Marketing Decisions Based on Data; Seems Simple, Right?

Every manager and business owner out there knows that marketing decisions often need to be made quickly, and so we often rely on our intuition to guide us.

The problem is that our intuition can easily deceive us. By not asking the right questions and by allowing emotion to permeate the decision-making process, it can become easy to make a decision that will negatively affect your company’s fortunes. Therefore, it’s important to have a system of predetermined guidelines in place to support our decisions. We should challenge our intuition and ask ourselves if there is data and evidence to back our marketing decisions.

Google, for example,  has proven to be very effective in this type of decision making. Google tested 41 shades of blue to confirm which would bring the highest click rate on their paid ads. As crazy as the study might seem, this campaign enabled the company to generate millions of additional dollars in profits.

Here at Strathcom Media, we often get the request to publish a “GET APPROVED FOR CREDIT” call-to-action (CTA) button on the homepage, despite extensive research showing this particular CTA is seldom clicked. This valuable homepage real estate is unnecessarily occupied. Take the time to monitor your analytics and discover what meaningful CTAs could be placed on the homepage.

marketing decisions

The same applies when choosing advertising mediums to leverage. There is no lack of advertising channels to choose from (Google PPC, Youtube, Facebook, Instagram, print, radio, billboards, email, direct mail, flyers-the list goes on), but how do you choose the appropriate channels for your dealership?

Some marketing agencies are notorious for promising significant conversion and lead increases in an attempt to lure in gullible buyers with too-good-to-be-true promises. This stains an industry that can potentially yield a very high return on investment.

That being said, a wealth of information gives us a great advantage, enabling easier decision-making. A good agency will use informational reporting to create marketing accountability and evaluate their value. In a digital world, there are so many metrics that you can measure anything and everything! A competent account manager will be able to break the metrics down for you in a way that is both understandable and useful.

Keep in mind that not all data is defined consistently. For example, if a marketing agency is promising to increase your conversions or your leads, ask them to define what a qualified sales lead or conversion is. Having a common definition of a qualified lead is imperative to avoiding disappointment. A confident marketing agency will have a strict framework for what does and what does not qualify as a sales lead.

A good place to start is by asking the right questions to define your advertising strategy. Here are some sample questions to help you figure this out:

  • Who is your target market? It is wise to conduct some research and take a look at your analytics to find out what your age and gender demographics look like. This will influence your answers to the other question below. (If you don’t already have Google Analytics (GA) connected to your website, do so immediately, as this information is easily accessible and invaluable.)
  • How do your competitors execute their promotion strategies? This may also influence your choice of promotional activity. For example, many of our dealers are executing geo-fencing strategies to steal customers from other dealers. How will this affect the way you react, if you choose to react at all?

In summary: Strathcom integrates these methods so we can better know our clients, understand our market segment, and identify weaknesses and strengths of our digital strategy, and then ultimately take the guessing and intuition out of our decision-making process. You can too! At Strathcom Media, we apply these methods in our decision making to ensure our clients’ marketing decisions and advertising strategies are backed and driven by statistics, keeping their minds at ease.

Google Analytics 360

Looking for a way to deep-dive into your customer data and take Google Analytics one step further?

Introducing the new Google Analytics 360.GA360Suite_Vertical_Logo

This new premium paid, enterprise-level solution is designed to help businesses just like yours integrate all of your customer data into one platform so you can easily make sense of it all and create better marketing campaigns. It’s taking advantage of all those micro-moments car buyers experience and giving them the right messages at the right time.

The full suite comes with:

  1. Google Analytics 360 – Formerly known as Google Analytics Premium, this software is coming out with new capabilities over the next couple of months
  2. Google Attribution 360 – Formerly known as Adometry, it has been rebuilt to better help you determine the value behind your marketing efforts and allocate budgets for the best returns
  3. Google Tag Manager 360 – Allows you to add code into your website in a simplified and efficient way, saving Marketers a ton of time
  4. Google Data Studio 360 – Takes data from all products in the Google Analytics 360 suite and converts it all into visual and interactive dashboards and reports
  5. Google Optimize 360 – A brand new website-testing and -personalization tool that will let you A/B-test different versions of your website for better performance
  6. Google Audience Center 360 – This new tool will help you understand your customers better and find more customers just like them

So if you think your team has mastered Google Analytics and just wants more, then Google Analytics 360 and its new product suite may just be the perfect new tool for you!