Why The 4 Ps Are Essential To Paid Search Forecasting

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Our Head of Paid Search, Ian Boyden, gives us a brief update on the four ‘P’s of Paid Search, and why they are absolutely essential to your forecasting process and maximising ROI.

Paid Search campaigns have the potential to deliver industry-leading results, for any business with a sound marketing strategy and proposition.

Many businesses are often adamant that their strategy is already A*, and refuse to admit when there’s a problem.

Before investing money in marketing tools such as AdWords, be sure to consider the following key elements – the four Ps of Paid Search:

  1. Price

Competitive Pricing

If you aren’t actively being price competitive, your conversion rates could plummet.

However, if you’re going to sell your products at prices that are slightly more expensive than your direct competitors, can you rest assured your brand profile will carry you through to conversion?

When you are confident that you are price competitive, make sure you utilise this in your Paid Search strategy. It’s important to include price points in your ad copy. You can do this using price extensions, or by using dynamic ad customisers if you want to ensure prices are in your ad titles.

  1. Promotion


Make sure you regularly optimise your ad creatives. Whenever you’re hosting a time-sensitive offer such as Buy-One-Get-One-Free or Free Delivery Until Midnight, get these in your creatives.

Also make sure there’s relevant CTAs that take your customers down the correct path in the Buyer’s Journey. This will make a big difference to your conversion and click-through rates, and will result in a higher return.

  1. Product


Don’t invest in trying to sell a product that won’t sell. Make sure your products have key features and benefits for the consumer, exciting USPs, and are of high quality in their category. Considering that product listing ads are now driving as much as 60% of AdWords spend, this ad format doesn’t work well if you are putting the wrong products in front of the wrong audience.

In this day and age, consumers have higher expectations of their potential purchases. With so much competition, it could be one slight feature that makes the difference to conversion rates. Keep an eye on your competitors – if their product range is wider, more reasonably-priced and more exciting than yours, you could lose out.

  1. Place


Are your products easily accessible geographically? This can go one of two ways:

  1. Your Area Coverage – if you’re a large business that has the ability to sell across wide regions, ‘Free P&P’ can help maximise conversion rates.
  2. Specialist Local – if you’re more of a specialist or pureplay business, make sure you target your local areas in which you can sell to. This could actually win you more conversions than your larger competitors.

Make sure you consider the four ‘P’s within every marketing strategy, particularly your ROI forecasting process and Paid Search campaign planning. It may sound simple, but these can sometimes be overlooked with disastrous consequences.

If you’d like to find out how we can help you grow your business and maximise your sales with industry-leading results, contact us today. We’d love to hear from you.

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