The process of running a paid search campaign involves a lot of effort. Undertaking this venture includes managing the various components of the campaign such as: the campaign buildouts, the landing pages, brand compliance, and conversion tracking. However, offer development is the most important component that the marketers need to focus on.
Marketers can follow the step-by-step process stated below in order to develop profitable paid search offers that can convert, as well as sell:
- Determining what to sell through the paid search: The first step is to determine what to sell. After taking inventory of which products they are promoting, the marketers need to describe the offers. An offer generally encompasses the product being sold, the price of the product as well as the reasons for purchasing it.
- Looking for the product-market fit: Businesses and brands need to establish a solid product-market fit prior to investing in advertising. Product-market fit proves that the offer resolves an issue along with meeting a requirement of the audience. The campaign goal should be clearly defined as being conducted in order to run strategic experiments, if the marketers have decided to make use of paid search for testing the validity of their ideas.
- Using the middle of funnel (MoFu) offers: It is a good practice to use either the middle of funnel (MoFu) or the bottom of funnel (BoFu) (of the sales funnel) paid search offers as they generate interest, consideration and evaluation of the products being advertised; in the minds of the customers. They will then try/test the products and decide to make a purchase.
- Developing a plan to evaluate the back-end profits: Marketers need a way to keep track of as well as to measure the profitability of their paid search campaigns. The leads and return on ad spend (ROAS) do not give the complete picture. The marketers need to develop a plan to evaluate the back-end profits. This can be done by creating goals and targets by making use of the estimates for profitability according to the existing inputs, and then verifying the assumptions after collecting sufficient data.
- Using landing pages that exclusively promote the paid search offers: The landing page can be either a website home page or a dedicated landing page (LP). This is the page that becomes visible to the visitor after he/she clicks on the ad. It is imperative to make sure that the landing page is optimized to drive sales.
- Bolstering the three Ps (Product, Price, Positioning) of the offer: Marketers should strengthen the visitors’ desire to take action after they click on the ad. Including product features, benefits and outcome is one way of accomplishing this. Offering warranties and guarantees on the products will solidify the prospects’ intention of investing in them. The positioning of products also plays a key role. Marketers need to review their competition and adjust their messaging for acknowledging as well as responding to the implications and claims from the competitor landing pages (LPs).