How to Maximize Your Return on Advertising Spend with Google Ads

April 5, 2024 | Platinum Consulting

Nowadays, advertising on Google isn’t just advisable – it’s necessary for most businesses. These ads offer a powerful way to expand your online presence and drive conversions directly to your website.

With its unparalleled reach and targeting capabilities, Google Ads offers a wealth of opportunities to connect with potential customers at every stage of their buying journey. Considering that more than 80% of desktop searches happen on Google, it’s the place to get your name front and center.

Additionally, estimates indicate that most businesses make an average of $2 for every $1 they spend on Google Ads - a fantastic and reliable ROI.

The question is, how much should you really spend on paid advertisements with Google – and how do you make sure you’re getting the best bang for your buck?

That’s what our Google Ads experts are talking about on the Platinum blog today. Let’s visit some of the best strategies for maximizing your return on advertising spend (ROAS) to ensure you’re not wasting money.

(1) Set Clear Goals & KPIs

First things first: establish clear goals and key performance indicators (KPIs) to serve as a roadmap for your advertising efforts.

By defining specific objectives such as increasing sales or leads, you can tailor your campaigns to focus on activities that directly contribute to these goals. Clear KPIs also allow you to track progress, measure success, and optimize campaigns accordingly, ultimately maximizing ROAS by ensuring that your resources are directed towards activities that align with your objectives.

(2) Know Your Audience Inside-Out

Fully understanding your audience enables you to create highly targeted Google ads campaigns that resonate with the RIGHT potential customers. By identifying their demographics, interests, and behaviors, you can tailor your messaging and ad creative to address their specific needs and preferences.

This targeted approach to Google ads increases the likelihood of engagement, maximizing ROAS by delivering relevant ads to the right audience at the right time.

(3) Conduct Keyword Research & Optimization

Strategic keyword research is essential for ensuring your Google ads appear in relevant search queries. You need to identify high-intent keywords that align with your offerings, which in turn helps attract qualified traffic to your website.

Remember: this isn’t a one-and-done job. Continuous optimization of your keyword list based on performance data allows you to refine your targeting and bid strategies, improving the efficiency of your ad spending and maximizing ROAS from year to year (or even month to month).

(4) Write Truly Compelling Ad Copy

Compelling Google ads copy should immediately grab attention, effectively communicate value, and entice users to click on your ads. In other words, to get more value out of your Google Ads, you need to focus on crafting compelling headlines and descriptions that highlight your unique selling points and address user pain points.

Hot tip: stay away from superlatives and clichés as much as possible. Instead, zero in on hard-hitting phrases that make your brand stand out without overpromising or dramaticizing your offerings. Also, keep in mind that sometimes fewer words are more effective, so keep your text short and to the point.

(5) Optimize Your Landing Pages

A well-optimized landing page enhances the user experience and increases the likelihood of conversion after a Google Ad draws customers in. By aligning the messaging and design of your landing pages with your ad copy, you provide a seamless transition for users from ad to post-click experience.

Keep in mind that truly optimized landing pages offer clear value propositions, compelling calls to action, and easy navigation. All of this helps drive sales and maximize ROAS.

(6) Monitor Performance & Iterate

If you really want to get the best bang for your buck, you’ll need to continuously monitor your campaign’s performance. When you can identify areas of improvement and optimize your strategies in real-time, you can reap more value from each campaign.

By tracking key metrics such as CTR, conversion rate, and cost per conversion, you can pinpoint underperforming areas and make data-driven adjustments to improve results. Iterative optimization based on performance insights maximizes ROAS by continually refining your campaigns to achieve the best possible outcomes.

(7) Allocate Your Budget Strategically

Considering that the average SMB invests seven times more money into paid advertising than they do into SEO, you’re probably allotting a big chunk of change to these ads. The more strategically you approach your budget allocation, the better your advertising results will be.

We recommend analyzing the performance of different campaigns and ad groups to identify high-performing areas and move your money around accordingly. Ultimately, you want to avoid overspending on underperforming areas and make sure you’re putting your money in all the right places.

(8) Utilize Ad Performance Tools

Lastly, we recommend leveraging ad performance tools such as Google Analytics and Google Ads Conversion Tracking. These provide valuable insights into campaign effectiveness and user behavior.

By tracking conversions, attributing revenue to specific ads or keywords, and analyzing user interactions, you can gain a deeper understanding of campaign performance and identify opportunities for optimization. The more informed your decisions are, the more you can maximize your return on investment.

Need Guidance on Advertising with Google? Let’s Talk.

Running advertising campaigns involves monitoring many moving pieces and making changes regularly. All marketing activities – especially PPC advertising – boil down to content. You need excellent content to pull people in and convince them to buy, and this is our top priority in every campaign.

Reach Out to Platinum Consulting

Contact us today to set up your free ads consultation. Our goal is to get you the results precisely when you need them by running a careful SEO and PPC marathon. If you’re not sure where to put your ad budget, our Google Ads experts will help you figure it out.