Immy Williamson
According to the Office of National Statistics (ONS) a net 3% of ‘Services’ firms reported decreasing turnover in June 2023, with services contributing the most to Gross Domestic Product (GDP) in the UK it’s integral (now more than ever) to be advertising your business effectively.
With the outlook on possible recession proving positive – at the moment the UK has escaped a recession – there is potentially more budget (and now, more time) to be spent on Google Ads and Paid Media strategies.
With all this being said, the forecast for the year’s economic situation is still weak – I’m here to investigate some different strategies within Paid Media, and their advantages and disadvantages, during uncertain economic times.
Businesses are constantly seeking new ways to connect with customers and prospects alike, and the Professional Services industry is no exception. Although user generated content – or UGC – is particularly useful for the likes of B2C companies, it does have its place in the professional services market too.
Hootsuite sums it up nicely: “UGC gives customers a unique opportunity to participate in a brand’s growth instead of being a spectator. This influences brand loyalty and affinity in a big way because people thrive off being part of something greater than themselves, and creating UGC allows them to be part of a brand’s community.” UGC is free, so it represents an excellent way for brands on a tight budget to promote themselves.
Harnessing the power of your customers, connections, and employees can be a game-changer for your business. Studies show that 88% of consumers consider authenticity and reliability crucial when making decisions.
Instead of merely proclaiming your company as the best in the region, why not let your satisfied customers do the talking for you? UGC in the form of reviews, testimonials, and community conversations on platforms like LinkedIn can establish trust and credibility around your services. By showcasing real experiences and opinions, you create powerful ‘social proof.’
Incorporating UGC into your marketing strategy is both simple and effective. You can transform positive Google reviews, client comments, or survey results into engaging graphics or short videos for your social media channels. Alternatively, you can take a more involved approach by curating a LinkedIn group that focuses on addressing specific pain points or common concerns of your target audience, positioning your firm as the go-to solution.
Involving your own employees in posting, sharing, and commenting on relevant content adds an authentic and personable touch to your brand. This can also aid in attracting top talent, a critical aspect, especially in the current business landscape.
Just as positive comments can affect your brand, the potential for negativity is inevitable – which can hinder (or perhaps even damage) your brand’s reputation.
UGC can have a significant impact on a brand’s online presence, and it’s crucial to handle it with caution. Whether it’s poorly written blog posts, negative or inappropriate comments, or unfavourable product reviews, the potential damage to your brand’s reputation is real.
Here are some important considerations:
Quality Control: If you allow user-generated content on your website or social media platforms, ensure that there are guidelines and filters in place to maintain quality standards. Poorly written or inaccurate content can reflect poorly on your brand.
Moderation: Implement a moderation system to review and approve user-generated content before it goes live. This way, you can prevent inappropriate or harmful content from being visible to the public.
Responding to Negative Feedback: Address negative comments and reviews in a professional and constructive manner. Responding with empathy and providing solutions can help mitigate the impact of negative feedback.
Encourage Positive Engagement: Actively encourage satisfied customers to leave positive reviews and share their experiences. Positive consumer-generated content can enhance your brand’s reputation and credibility.
Monitor Social Media: Keep a close eye on social media mentions and conversations about your brand. Timely responses to customer inquiries and concerns can help build trust and show that you value your customers’ feedback.
Protect Your Brand Values: Ensure that user-generated content aligns with your brand’s values and messaging. Inappropriate or offensive content can harm your brand’s image.
Legal Considerations: Be aware of potential legal issues related to user-generated content, such as copyright violations or defamation. Have clear policies in place to address such issues.
Learn from Feedback: User-generated content can provide valuable insights into your customers’ needs and preferences. Use this feedback to improve your products, services, and overall customer experience.
In summary, consumer-generated media can be a powerful tool for building brand awareness and trust, but it requires careful management and attention. By being proactive in monitoring, moderating, and responding to user-generated content, you can harness its potential while safeguarding your brand’s reputation.
Google Ads offers a powerful platform for businesses to create custom campaigns that align with their specific objectives, target audience, location, chosen keywords, and budget.
When a user searches for one of the selected keywords on Google, the corresponding ad campaign is activated, and the relevant ad is displayed prominently in the search results.
For instance, if your campaign targets the keywords “best estate agents, Chester,” your ad will appear at the top of the search results when someone looks for that particular term. The process of determining which ads appear in the prime ad space on search engines is conducted through a virtual auction system hosted by Google Ads.
Companies can participate in this auction and bid for the placement of their ads, employing one of three main bidding strategies: By choosing the right bidding strategy and crafting compelling ads, businesses can leverage Google Ads to drive targeted traffic to their websites, increase brand visibility, and achieve their marketing objectives effectively.
However, there are limitations to Google Ads, especially during uncertain economic times.
Google Ad inflation refers to a noticeable increase in costs (CPCs) whose growth grossly outpaces that of traffic demand. At first, front-end metrics will be directly impacted but this impact can directly lead to declines in back-end efficiency.
You may see:
No change or a decline in competition.
A flat or a decrease in search impression share.
A decline in impressions while clicks remain constant or go down, does not have a positive impact on your Quality Score.
Unless you happen to share a name with a well-known brand in a completely unrelated field, I’ve found that the solution may seem simple.
The recommended strategy involves migrating from your current bid strategy (let’s call it x) to a manual bid strategy, starting with first-page bids. Then, gradually move towards using “max clicks” with an uncapped cost-per-click (CPC) to optimise your budget.
The last phase, if needed, would be to implement “max clicks” with a capped CPC.
Using “max clicks” aims to maximise the reach of your budget, making it in the search engine’s best interest to seek the most affordable CPCs available.
If you’re not already using manual bidding, it’s advised to spend at least 1-2 weeks in this mode to gather sufficient data for establishing a solid baseline.
For the “max clicks” strategy, it’s preferable to run it for a minimum of 2-3 weeks before considering implementing a CPC cap. Depending on your budget and other factors, setting up mirror brand campaigns using remarketing lists can be beneficial. These campaigns should target repeat visitors or converters separately from first-time visitors, as their behaviour and performance may differ significantly.
If you’re currently targeting maximum impression share and experiencing rising CPCs, it’s important to recognise that this situation is a result of your own choices, and complaining about it is not justified.
On brand campaigns, adopting a “max conversion” strategy is often ineffective due to the presence of granular or niche keywords with high intent. Coupled with rising costs, this can lead to increasing costs per acquisition (CPAs) and ultimately reduce your spending volume.
Similarly, adopting a “conversion value” strategy can pose similar issues as the “max conversion” approach.
In summary, optimising your bidding strategy requires a thoughtful approach that aligns with your specific circumstances and objectives. It may involve gradually transitioning from automated to manual bidding, carefully monitoring CPCs, and considering different calls to action.
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