MBA1661 Are Google Ads Worth It?

Let me tell you about Intuit QuickBooks. When I was starting out my business, I remember sitting at my desk late at night, not working on my business but cleaning up numbers, tracking and reconciling payments and wondering how this became my life. But once I automated the admin side of things, of my finances, those nights had disappeared and I felt a whole lot better. Outdo it with Intuit QuickBooks. QuickBooks is the trusted end to end solution that businesses rely on for getting paid, managing finances, paying employees, finding new customers, and more. QuickBooks provides a team of AI agents and trusted experts. So doing it yourself no longer means doing it alone. Their payment agent gets you paid faster, their customer agent finds leads, follows up and secures more sales, and the accounting agent automates and categorizes transactions. Get your critical business jobs done with QuickBooks on the Intuit platform.

Ready to save on new tech? It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Product perks include Dell rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals.

Hey O. Welcome to the $100 employ. Because a better you is a better business. That's why we deliver daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the $100 MBA, a complete business training and community online. And in today's episode you will learn is running Google Ads worth doing? In today's episode we're going to explore if you should be doing Google search ads. These are ads that show up when people search on Google. They're usually the first few results that you see when you search on Google before the organic search. Now, Google search ads have had the reputation of being expensive, but are they worth it? Expense is not a bad thing if you're going to get a return on investment. So in today's episode we're going to explore when and how Google search ads can work for you. So let's get into it. Let's get down to business. In 2019, Google made over 160 billion with a B dollars in ad revenue that made up over 70% of their total revenue for the year. Think about that. Think about all the things that Google makes and charges for whether it's business email or the Google Phone or Google Nest and the Google Home speaker. 70% of all the money they make is through ads. They wouldn't be making all this money if ads didn't work. If they didn't work, people wouldn't come back to Google and continue to pay for it. If they didn't get an roi, people will not continue to run ads. So let's just establish that Google Ads do work for some businesses, right? They have to, otherwise they would be out of business. So which businesses would benefit from Google Ads? Well, naturally any business that the potential customer would go on Google to search for. So some businesses don't lend itself to that. For example, a doctor, right? Doctors are usually recommended via word of mouth or another doctor recommends another doctor. But you normally don't search for a particular doctor on Google. Now the opposite of that is a Mexican restaurant, right? If you have a Mexican restaurant and people search a Mexican restaurant near me and you show up first because you have a Google Ad, this can really work for you because people are always searching for things like a restaurant. Or take my product for example, Webinar Ninja webinar software. People will search for tools for their business. Best webinar software. If I show up on that search because of a Google Ad, I get people to see my brand and see what we're all about right at the top of Google. So you could see already that this is really, really interesting, right? It could really be of benefit of you. Especially if you're getting started and you're not a known brand and you want to be a known brand. Google can give you exposure. The other thing to note is Google Ads are different from like Facebook or Instagram ads or Twitter ads. There's a difference between searching for information and then being presented an ad based on your search versus just being fed an ad. Because Facebook thinks you would be interested in without you actively searching. Somebody who's actively searching for something, they're interested, they are shopping around, they're buyers. So the caliber of the lead of the potential customer is often much higher via Google Ads. This is what we found and this is why you pay more, is because somebody's searching for something, they're looking for you. And if they find you through a Google Ad and they click you, there's a likelihood they would convert into whatever you're converting as a customer or an opt in or an email subscriber. There's a higher likelihood than somebody just seeing an ad as they're scrolling through Facebook. They're not really asking for it. This is why cost per conversion on Google can be 3, 4, 5, times as more as Facebook or Instagram. This is from my own experience of running Google Ads, but it's a higher caliber customer. It's a customer that retains and is a customer that is serious about buying. Whenever you're running ads, Google or otherwise, the way to find out if it's worth it is to know your numbers is to know your cost per acquisition or cac. You need to understand how much it costs you to acquire a customer through any platform. Facebook, Twitter, Google. So say for example, you spend $1,000 on a Google search ad. And remember Google's going to charge you for impressions how many times they show this ad. Say for example, you're running a Google Ad and you get a thousand impressions and you paid, let's say $10 an impression. That's $10,000 running a Google Ad. I know this is a high estimate here or a high example, a costly example, but let's just run with it. So I had a thousand impressions and from Those thousand impressions, 200 people clicked on my ad. Okay? So that means they went to my website and from the 250 people became a customer. Now if my average lifetime value for a customer, how much money a customer will give me during the course of the lifetime of this customer is $1,000. Say for example, then I made an increase of $50,000 for lifetime value, right? LTV, I spent 10,000, but I made 50,000 in LTV. So there's an ROI, as you could see. But you won't know that if you don't know your cost per acquisition. So you have to do the numbers to understand that and work. So often people will not run Google Ads if they have a low priced product or they don't have high priced products anywhere in their funnel because they just simply can't acquire the customer at a lower enough price for it to be a return on investment when they buy. So keep that in mind. Make sure your CAC is lower than the lifetime value of each customer. That's how you'll know if Google Ads are worth it for your business. For us at Webinar Ninja, it is because the cost to acquire a customer is lower than our ltv, our lifetime value of the customer. And even if that's only by 20%, 30%, whatever that is, I'm making 20, 30% profit on autopilot. You run that play as many times as you can because that's easy profit. And remember, you're paying for the impressions. So even if they don't click, you still get brand awareness, you still get People reading your ads exposure, there's a lot of hidden benefits to it as well. Just like running any other display ads. Now, running Google Ads is not simple, okay? It's a science. And if you are willing to take the time to learn, you could take an online course or learn a little bit more about it, or use a tool like adespresso to help you do some split testing with your ads, great. But to optimize your ads on Google, take some time, take some expertise, and you might benefit from hiring somebody to do that. And that's what tomorrow's episode's all about. How to find a great expert at paid marketing. A lot of people don't do this. They don't actually hire somebody to do their paid marketing because they think they're saving money. Oh, I don't want to spend $1,000 or $2,000 a month to hire somebody to run my ads. Plus the cost of ads, you know, the spend we have to spend to run the ads. This person is definitely going to save you money in the long run. Even if you're spending $2,000 a month, you can easily waste 2,000 on the mistakes you make. As a beginner, experienced person that have run ads over and over for their clients, they're going to get you more customers, they're going to get you more traffic, they're going to optimize your ads, they're going to make sure that every cent you spend on marketing is money well spent. So in my opinion, it's a great investment. And remember, these experts can help you not only just in Google Ads, but Facebook, Instagram, Twitter, LinkedIn, you name it. And in my opinion, the amount of time that it takes to put these ads together, to split test, to write the copy, to do the images, to make sure things convert, it's a lot of time involved. You know, it's well worth how much you're going to pay that expert. More about that in tomorrow's episode though. When it comes to Google Ads, if people tend to search on Google to find your services, find your practice, to find your product, Google is a great way to get new customers. Guess how you can find out if this is true for your business? Just look at Google Analytics. Google Analytics will tell you how people have found your website. Did they come from social, did they come from email, did they come from, you guessed it, a Google search. In our industry with us at Webinar Ninja, we found that over 40% of all our traffic, and it's the majority of our traffic comes from search. So we thought it was a good idea to double down and triple down on Google Search ads. Hey Fidelity, how can I remember to invest every month? With the Fidelity app, you can choose a schedule and set up recurring investments in stocks and ETFs. Huh, that sounds easier than I thought. You got this? Yeah, I do. Now where did I put my keys? You will find them where you left them.

Investing involves risk, including risk of loss. Fidelity Brokerage Services, llc Member NYSE SIPC.

When the flu is keeping you up at night, don't try to tough it out. Knock out your flu symptoms with nyquil Intense Flu. You got this. It provides powerful relief of your flu symptoms so you can sleep well through the night. Nyquil Intense Flu the nighttime Sniffling, aching, aching fever. Best sleep with a flu medicine Use as directed. Keep out of reach of children.

To wrap up today's lesson, Google Search is a great way to get in front of new customers, people that have never heard of you. Also, with Google Search, you can actually target what areas around the world you want to target, what demographics, so you can really narrow down who you want to display your ads to where, and all that depending on your own businesses demographics. Thanks so much for listening to the $100 MBA show. Don't forget to listen to tomorrow's episode on how to find a great paid advertising marketer, somebody who can take care of all these paid ads for you. How do you find them? Where are they hiding? How do you hire them? More on that tomorrow. And one way to make sure you don't miss it is just to hit that subscribe button. It's absolutely free and it makes sure when the next episode's available, it's right on your device, on whatever app you're using, go ahead and hit subscribe. So whether it's Spotify or Stitcher Radio or Apple Podcasts or Himalaya, we're on every single platform. So hit subscribe right now. Before I go, I want to leave you with this. Whenever you run a new campaign, whether it's in Facebook or in Google or in Instagram or in anything, it does take a bit of money to optimize the ad. So you're going to spend a little bit of money in the beginning to just kind of figure out what works. And then once you kind of optimize it, you can fine tune and start reducing costs. But don't be alarmed in the beginning if your ads are not converting at a great rate. In the beginning, it's still learning, it's still finding out, still figuring out how to do the best for the the budget that you have for the ad. Thanks so much for listening and I'll check you in tomorrow's episode. Until then, take.

Olivia loves a challenge. It's why she lifts heavy weights and likes complicated recipes. But for booking her trip to Paris, Olivia chose the easy way. With Expedia, she bundled her flight with a hotel to save more. Of course, she still climbed all 674 steps to the top of the Eiffel Tower. You were made to take the easy route. We were made to easily package your trip. Expedia made to travel flight inclusive packages are ator protected.