Larry Kim's Keynote for The Local Social, Richardson, TX, October 23, 2014
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How AdWords Really Works Winning at AdWords the Weird Way Tips for Writing Killer Ads Tips for Writing Crazy Offers Hacking the Google Display Network Key Trends Influencing PPC Marketing in 2015!
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Larry Kim's Keynote for The Local Social, Richardson, TX, October 23, 2014
- 1. Hacking AdWords – Winning at PPC the Weird Way (and the Future of PPC Marketing) Larry Kim, Founder/CTO, WordStream October 23, 2014 CONFIDENTIAL – DO NOT DISTRIBUTE 1
- 2. About Me Larry Kim (@larrykim) • Founder & CTO of WordStream • Commander of the Google AdWords Quality Score Rebellion • Had a Kid 5 Months Ago (#ppckid) @larrykim #LS2014
- 3. Today’s Agenda: Hacking AdWords 1. How AdWords Really Works 2. Winning at AdWords the Weird Way – Killer Ads – Crazy Offers – Hacking the Google Display Network 1. Key Trends Influencing PPC Marketing in 2015! @larrykim #LS2014
- 4. CONFIDENTIAL – DO NOT DISTRIBUTE 4 Pick the Red or Blue Pill
- 5. Slides are Available For Download! • http://bit.ly/thelocalsocial @larrykim #LS2014
- 6. Rules of the AdWords Game
- 7. Understanding the AdWords Auction CONFIDENTIAL – DO NOT DISTRIBUTE 7
- 9. Why Does Quality Score Matter?
- 10. Quality Score Impacts Ad Position • AdWords is Like Real Estate: It’s all about Location! @larrykim #LS2014
- 11. CONFIDENTIAL – DO NOT DISTRIBUTE 11
- 12. Cost Per Conversion Greatly Impacted by QS @larrykim #LS2014
- 13. Impression Share vs. Quality Score • AdWords is Like Real Estate: It’s all about Location! @larrykim #LS2014
- 14. Impr. Share 2x More Competitive on Mobile • AdWords is Like Real Estate: It’s all about Location! @larrykim #LS2014
- 15. Quality Score: Quick Summary • Low QS means… – Lower ad positions – Low impression share (and even less on mobile) – Huge CPC penalties (+400% Tax) – Higher Cost Per Conversion (+64%) @larrykim #LS2014
- 16. So Get a HIGH Quality Score! @larrykim #LS2014
- 17. How is Quality Score Calculated?
- 18. This is The Expected (Average) Ad CTR @larrykim #LS2014
- 19. QS is Based on Your CTR vs. Expected CTR! Above Avg. CTR = Higher QS Above Avg. CTR = Higher QS @larrykim #LS2014
- 20. But High QS Not Possible In My Industry! @larrykim #LS2014
- 21. B2B Industry Quality Scores @larrykim #LS2014
- 22. Finance Industry Quality Scores @larrykim #LS2014
- 23. Ecommerce Industry Quality Scores @larrykim #LS2014
- 24. CONFIDENTIAL – DO NOT DISTRIBUTE 24
- 25. But Google Says Don’t Obsess Over QS! Larry Kim (@larrykim) #wordstream
- 26. Ignore This Garbage… @larrykim #LS2014
- 27. What’s an Average Quality Score in 2014?
- 28. Avg. Quality Score Has Been Falling. • Today, average score is 5/10. Previously was 7/10! @larrykim #LS2014
- 29. So What To Do With My Keywords? • If Your Keyword’s Quality Score is… – 1 to 3: Delete Immediately – 4 to 6: Fix / Optimize – 7 to 10: Don’t Mess with Success @larrykim #LS2014
- 30. “Low CTR” = Losing PPC Strategy
- 31. The High CTR Game for AdWords 1. Be Very Picky. Bid on Only the Best Keywords and Get HIGH CTRs. 2. Delete Junk Keywords (Bottom Third of your Account). Reallocate to Remarketing. @larrykim #LS2014
- 32. How To Write Insanely Great PPC Ads (The Key for High CTR)
- 33. Which Ad Wins? •Ad A • 2,423 Impressions • 453 clicks (1.4% CTR) • Average Position: 2.8 •Ad B • 36,223 Impressions • 760 clicks (2.1% CTR) • Average Position: 3.0
- 34. Trick Question! They Both Suck •Neither ad is worth declaring a “Winner”. •Not even the 2.1% CTR in the 3.0 Avg. Position. •Why?? @larrykim #LS2014
- 35. What’s a Good CTR? @larrykim #LS2014
- 36. • Even the “Winner” is a Loser! CONFIDENTIAL – DO NOT DISTRIBUTE 36
- 37. Your “Winning” Ad Might Be Crap @larrykim #LS2014
- 38. How Great Can My CTR Be?? (You’d be surprised)
- 39. Click Through Rate Varies A Lot!! @larrykim #LS2014
- 40. Some Ads Do 2x, 3x or 6x Above Avg!? @larrykim #LS2014
- 41. Donkeys vs. Unicorns Percentile Vs. Expected CTR Name Bottom 50% Below Expected CTR Donkeys Top 15% 2X Higher OK Top 5% 3x Higher Great Top 1% 6x Higher!! Unicorns @larrykim #LS2014
- 42. @larrykim Ad Unicorns?! (6x Avg. CTR!)
- 43. Ad Text Testing • Same Story – 20% of Ads Generate 92% of Spend • 20% of Ads Generated 65% of Impressions • But CPA, CTR, and Conversion Rates vary @larrykim, @perrymarshall
- 44. 1. Keywords With High Commercial Intent @larrykim #LS2014
- 45. Does Dynamic Keyword Insertion Matter?
- 46. What is Dynamic Keyword Insertion? @larrykim #LS2014
- 47. 2. Dynamic Keyword Insertion (DKI) @larrykim #LS2014
- 48. 2. DKI Doesn’t Produce As Many Unicorns @larrykim #LS2014
- 49. Do Ad Extensions Matter?
- 50. 3. Ad Extensions Impact on Click Through Rate @larrykim #LS2014
- 51. 3. Ad Extensions Impact on Quality Scores @larrykim #LS2014
- 52. How To Write “Unicorn” Ads
- 53. 4. Most Ads Suck. Create Emotional Ads. @larrykim #LS201543
- 54. Creating “Emotional” Ads @larrykim #LS2014
- 55. This Ad Does 6x The Avg. CTR @larrykim #LS2014
- 56. Because Everyone Else is Crap… @larrykim #LS2014
- 57. You Need To Test 100 Ads To Find 1 Unicorn.
- 58. Unicorns are Rare Name Percentile Relative Abundance Vs. Expected CTR Pretty Good Top 15% 1:6.7 2X Higher Contender Top 5% 1:20 3x Higher Unicorns Top 1% 1:100 6x Higher!! @larrykim #LS2014
- 59. You’re Not Testing as Many Ads as You Think… @larrykim #LS2014
- 60. It’s Not as Hard As You Think
- 61. Most Small Businesses Aren’t That Active @larrykim #LS2014
- 62. 85% of Impressions are From 5% of Ads @larrykim #LS2014
- 64. What’s a Good Conversion Rate? @larrykim #LS2014
- 66. Donkey vs. Unicorns Distribution Point Conversion Rate Vs Average Comments Average 2.35% Donkeys Top 25% 5.31% 2x Good Top 10% 11.45% 3-5x Unicorns! ! @larrykim #LS2014
- 67. “top 10% have a CVR 3-5x average” rule Distribution Point All accounts Ecommerc e Legal B2B Finance Median Conversion Rate 2.35% 1.84% 2.07% 2.23% 5.01% Top 25% Conversion Rate 5.31% 3.71% 4.12% 4.31% 11.19% Top 10% Conversion Rate 11.45% 6.25% 6.46% 11.70% 24.48% @larrykim #LS2014
- 68. Landing Page Unicorns?! (3-5x Avg. Conversion Rate!) @larrykim
- 69. The Great Landing Page Optimization Fairy Tale • We Changed the: – Font Type – Spacing – Button Color – Image – Etc. • We got a 5% Increase in Conversions!!* @larrykim #LS2014
- 70. Typical Conversion Rate Optimization Test • PTD- Premature Testing Dilemma (aka “Optimizatitis”) – The Early Lead Disappears! – We want to believe our hard work paid off but we are often deluding ourselves… @larrykim #LS2014
- 71. A/B Testing is Over-Rated • Small Changes Result in Small Changes • The x% Increase you think you got probably isn’t significant! @larrykim #LS2014
- 72. Re-Arranging Deck Chairs On the Titanic @larrykim #LS2014
- 73. Aim For 2-5x Increases Not 2-5%! @larrykim #LS2014
- 74. What Do Landing Page Unicorns Look Like?
- 75. 1. Change The Offer @larrykim #LS2014
- 76. The New Offer: @larrykim #LS2014
- 77. How to Know if your Offer Stinks • Average or Below Average Conversion Rates • Ask Your Customer! @larrykim #LS2014
- 78. 2. Change The Flow. @larrykim #LS2014
- 79. 2. New Flow: Registration At End @larrykim #LS2014
- 80. You Need To Try Out 10 Offers To Find 1 Unicorn
- 81. Donkeys Outnumber Unicorns Name Percentile Relative Abundance Vs. Expected Conversion Rate Awesome Landing Pages Top 25% 1:4 2x Higher Unicorns Top 10% 1:10 5x Higher!! @larrykim #LS2014
- 83. This is the same landing page with different spacing… @larrykim #LS2014
- 84. It’s Easier Than it Seems
- 85. 80% of Traffic Goes to 10% of Landing Pages @larrykim #LS2014
- 86. The Bar is Very Low @larrykim #LS2014
- 87. Hacking The Google Display Network
- 88. Quality Score Exists on Display Network, Too. Higher CTR = Lower CPC Higher CTR = Lower CPC 0.1% increase/decrease in CTR yields ~20% change in CPC! CONFIDENTIAL – DO NOT DISTRIBUTE 88
- 89. The Hack: Create Display Ads with Very High CTR (Quality Score)!! CONFIDENTIAL – DO NOT DISTRIBUTE 89
- 90. 1. Push Ads To Your Offers @larrykim #LS2014
- 91. Do a Conversion Path Analysis Define audience segments using the pages that most often lead to a conversion event @larrykim #LS2014
- 92. 2. Push Display Ads to Your Content @larrykim #LS2014
- 93. 5% of Content = 50% of Social Media Engagement @larrykim #LS2014
- 94. These Emotions Make People Click on Things @larrykim #LS2014
- 95. Display Ads Should Look More Content… @larrykim #LS2014
- 96. Don’t Settle For Average – Be a Unicorn Among a Sea of Donkey Advertisers! CONFIDENTIAL – DO NOT DISTRIBUTE 96
- 97. PPC Marketing in 2015 and Beyond! 4 Key Trends.
- 98. 1. CPCs for Paid Search at All Time High @larrykim #LS2014
- 99. Apps are Stealing from Searches! @larrykim #LS2014
- 100. High CPCs, No Growth in Searches (Yikes!) • Only way to win is to be more picky in Paid Search! – Location/Time/Device/Demographic Bid Modifiers – New Demographic Targeting Options – Buy Fewer, More Valuable Clicks • Growth Will Come From Display Ads That Have 10x More Inventory, 1/3rd Avg. CPC @larrykim #LS2014
- 101. 2. The Rise of Identity Based Marketing
- 102. Future of PPC More Like Email Marketing Email Marketing • Limit Number of Blasts To Reduce Unsubscribes • 0.5-2% Unsubscribes Each Blast • People Need To Opt Into Your List • Tons of Unqualified Emails on the List People-Based Marketing • N/A • N/A • N/A • N/A @larrykim #LS2014
- 103. 3. Google Taking Away All Our Toys! @larrykim #LS2014
- 104. No More Device Targeting! @larrykim #LS2014
- 105. Focus On PPC Strategy & Creative Instead Type of Optimization Impact of Optimization Match Type Stratification ~10-30% Device Targeting ~10-30% Ad Text 3-6x Optimization Landing Page Optimization 3-5x Focus Here! @larrykim #LS2014
- 106. 4. Convergence of Paid Social & Content Marketing 5 Minutes before doing the only paid social session at the HubSpot Inbound Marketing Conference last month. @larrykim #LS2014
- 107. 4. Convergence of Paid Social & Content Marketing @larrykim #LS2014
- 108. Convergence of Paid Social & Content Marketing Cross Functional Integrated Marketing Teams To Rule The Funnel From Top to Bottom CONFIDENTIAL – DO NOT DISTRIBUTE 108
- 109. Summary: What Does it All Mean? 1. Be a Unicorn Among a Sea of Donkey Advertisers (Just Say No to Low CTR!) 2. Challenging Yet Exciting Future for PPC Marketing Ahead! @larrykim #LS2014
- 110. Thank You!! Slides: http://bit.ly/thelocalsocial @larrykim #LS2014
Notas do Editor
- Show how the keyword expansion is easier using a tool. Explain that we’re following the same best practices that Brad Suggested.
- Now guys just a quick warning here. I’ve got like 40 data-packed slides and just 15 minutes to go through them so try to keep up! After all, this is SMX advanced not SMX beginner.
- Talk about how google makes it very hard for PPC spammers, too. Google shut down millions of spammy accounts year. All keywords/ads are graded with a quality score. The higher your quality score, the higher your ad ranking and lower your cost per click.
- Done
- Talk about how google makes it very hard for PPC spammers, too. Google shut down millions of spammy accounts year. All keywords/ads are graded with a quality score. The higher your quality score, the higher your ad ranking and lower your cost per click.
- Talk about how google makes it very hard for PPC spammers, too. Google shut down millions of spammy accounts year. All keywords/ads are graded with a quality score. The higher your quality score, the higher your ad ranking and lower your cost per click.
- Talk about how google makes it very hard for PPC spammers, too. Google shut down millions of spammy accounts year. All keywords/ads are graded with a quality score. The higher your quality score, the higher your ad ranking and lower your cost per click.
- Talk about how google makes it very hard for PPC spammers, too. Google shut down millions of spammy accounts year. All keywords/ads are graded with a quality score. The higher your quality score, the higher your ad ranking and lower your cost per click.
- The first big change I’ve noticed is that Google expects way more performance from your ads. They’ve raised the bar in terms of the quality they expect from your ads. Here I’m showing some research into expected click through rates across a few thousand advertiser accounts and found that the average click through rates for any given ad position is much higher than you might expect -- and keeps trending even higher. So why should you care?
- I’ve heard people say that it’s not possible to get high quality scores in your specific industry (as if google has a personal grudge against you and your industry). Keep in mind that quality score is based on beating an expected average click through rate for a given ad position. So by definition, in any industry, essentially around half of the accounts out there have above average quality scores, the other half don’t. To prove this, I recently segmented average quality scores by industry and found that in all industries, there were (surprise surprise) both high and low average quality scores for every industry!
- For example, I looked at specifically at B2B companies (the purple dots in this graph) and found that the calculations used to determine their Quality Scores weren’t a heck of a lot different from any other industry.
- What about Finance Companies – the yellow dots in the graph? surely google must be out to get wall street? Again, not a huge difference compared to other industries.
- Same with Ecommerce companies – the orange dots in this graph. Again, their quality score calculations were very similar to every other industry out there. So if you hear anyone say that It’s not possible to get a high quality score – I think that could be a bit of a cop-out – the problem could be their strategy.
- I’ve heard people say that it’s not possible to get high quality scores in your specific industry (as if google has a personal grudge against you and your industry). Keep in mind that quality score is based on beating an expected average click through rate for a given ad position. So by definition, in any industry, essentially around half of the accounts out there have above average quality scores, the other half don’t. To prove this, I recently segmented average quality scores by industry and found that in all industries, there were (surprise surprise) both high and low average quality scores for every industry!
- I’ve heard people say that it’s not possible to get high quality scores in your specific industry (as if google has a personal grudge against you and your industry). Keep in mind that quality score is based on beating an expected average click through rate for a given ad position. So by definition, in any industry, essentially around half of the accounts out there have above average quality scores, the other half don’t. To prove this, I recently segmented average quality scores by industry and found that in all industries, there were (surprise surprise) both high and low average quality scores for every industry!
- Ben