This episode helps SMB ecommerce operators understand and succeed with paid search on Google and Bing. It demystifies agency selection, explains crucial performance indicators, and debunks common myths about running paid ad campaigns for smaller businesses, enabling store owners to make informed decisions and optimize their ad spend effectively.
Key takeaways
Small businesses should prioritize hiring paid search agencies with retail backgrounds and experience with platforms like Shopify or Magento, as their expertise aligns better with SMB needs than agencies focused on large enterprises.
When evaluating paid search performance, differentiate between brand and non-brand campaigns. Brand campaigns often skew overall ROAS positively due to their high conversion rates, potentially masking underperforming non-brand efforts.
Focus on the consistency of return on ad spend (ROAS) rather than just overall spend. A good agency should deliver a relatively consistent and exciting money-in, money-out ratio from paid search, even with some volatility.
It's more effective to start with a small, profitable campaign and reinvest its returns than to overspend initially and then try to optimize for profitability.
Avoid general best practices from larger brands, as they are often not applicable to smaller accounts and can lead to wasted ad spend.
Today we welcome Roy Steves, the co-founder of StatBid, an agency that helps small- and medium-sized businesses make money with Google and Bing, focused almost exclusively on ecommerce sites. He talks shop about how to find the right ad agency to work with, the returns you should look for from your ads, and the pros and cons of automation. To learn more, visit: https://electriceye.io/podcast Resources: Learn more at https://www.statbid.com/sprint-review Start a Simplr free trial: simplr.ai/honest Honest Ecommerce is produced by Crate Media
What does this episode say about paid acquisition?
Small businesses should prioritize hiring paid search agencies with retail backgrounds and experience with platforms like Shopify or Magento, as their expertise aligns better with SMB needs than agencies focused on large enterprises.
What does this episode say about founder & leadership?
When evaluating paid search performance, differentiate between brand and non-brand campaigns. Brand campaigns often skew overall ROAS positively due to their high conversion rates, potentially masking underperforming non-brand efforts.
What does this episode say about analytics & attribution?
Focus on the consistency of return on ad spend (ROAS) rather than just overall spend. A good agency should deliver a relatively consistent and exciting money-in, money-out ratio from paid search, even with some volatility.
What does this episode say about paid acquisition?
It's more effective to start with a small, profitable campaign and reinvest its returns than to overspend initially and then try to optimize for profitability.
What does this episode say about paid acquisition?
Avoid general best practices from larger brands, as they are often not applicable to smaller accounts and can lead to wasted ad spend.
