If you run a web-based marketing campaign for your business, you can use technology to both help you maximise your campaign and predict your income. With web-marketing, your main goal is to get as many leads as possible, and convert as many of those leads as possible into sales. Google is the most valuable tool in that process. Why?
Because Google is the search engine the majority of your target customers are using, which means it’s your means to becoming visible and generating those leads. Google provides the Keyword tool to help you figure out your possible number of leads, and the rest is mathematical. Following is the step-by-step process to learning how to predict your income using Google’s technology.
Step 1: Figure Out Your Keywords
This strategy is particularly used in the testing/planning stage. If your keywords are already being used in your advertising, then go ahead and use the ones you’re working with. For everyone else, go to adwords.google.com and click on the keyword tool. Type in keywords you would use to find the information/product you’re selling, and click search.
What pops up in the top portion will be the actual keywords you typed in. What pops up in the section underneath will be the keywords that are related to those you typed, that are getting searched. Click on the Global Monthly Searches column to organise them highest to smallest number, and pick the first on the list keywords/phrases that are accurately related to your product/service/information, that you will be able to use in PPC or web advertisement on your page. We’re going to use 5.
Step 2: Global Monthly Searches
Take note of the Global Monthly Searches (GMS) they’re getting.
Example: Let’s say the top 5 keywords Google shows me, and their GMS are as follows:
- Page rank pr – 110,000 GMS
- Checker pagerank – 110,000 GMS
- Check pr rank – 40,500 GMS
- Check google rank – 40,500 GMS
- Check rank google – 40,500 GMS
That’s a total of 341,500 GMS, which is a lot of GMS!
Step 3: Apply Lead Ratio
Using a metric formula, you’re going to determine from the GMs the actual number of leads you’re going to get. This number varies a bit due to factors that can’t be controlled wide-spread (but can be controlled by you), such as the quality of market research before presentation, quality of advertisement design, etc. Assuming you have a professional quality design, about 1.5% of the population to which your page is made available will click on the link. So the formula is Total GMS x .015 =Total Monthly Leads.
Using my previous example: 341,500 x .015 = 5,123 monthly leads (visitors to my page)!
Step 4: Apply Conversion Ratio
The conversion ratio is quite similar. If the quality of your content and page designs are good and professional, then you can safely assume that you would score around 1% of your leads.
So, the formula we use now is as follows: total monthly leads x .01 = total monthly sales
Still going with my previous example, here’s what we have: 5,123 x .01 = 51.23 monthly sales! Depending on how much my product is worth that could be yikes, or it could be plenty.
Step 5: Apply Your Product Price
The last step is the simplest in order to apply your product price. Simply multiply the number of sales you’ll be making by the price of the product. If my product costs $50 each, then it would be netting me $2,561.5 per month before taxes and supply costs. Figure out what your income will be!
About the Author: Alexandra Seremina works for http://www.azoft.com/, a software development company.