As SMBs are entering 2020, it would be a useful exercise to reevaluate their Google Ads investment. Here we are trying to get some answers by looking at the latest Google Ads usage trends by small businesses in 2019.
Recently as I changed cars, I was reviewing my auto insurance options. None of that was unhappy with my policy, but it was up for renewal, my situation has changed and I wanted to check out the alternatives featurewise, and especially price-wise.
I ended up staying with the same provider but this was still a useful exercise. It gave me peace of mind knowing that the service I am investing in is still the best in its category.
Wouldn't it be nice to get similar reassurance or at least an understanding about our Google Ads investment? Or, more specifically, is Google Ads still a good investment for small businesses in 2020?
This is a big question and there's probably no direct answer, but I had an idea.
If we look at the recent trends of Google Ads usage by the large number of small businesses, we might get some clarity or at least indications where it's going.
I found this data in the recent report by Mark Irvine from WordStream. Wordstream is a company that manages paid search campaigns for over 30,000 small and medium businesses.
Mark provided some recent trends about how the customers use Google Ads. There has been growth across the board in Google searches - 12% increase, in clicks - 18% increase, in the clickthrough rate - 15% increase.
That means now there's more opportunity for small businesses to get in front of people, to have people engaged with your brand and to have people find you online.
But with those opportunities come new challenges. More advertisers are on Google than ever before and competition is at an all-time high. Cost per click increased by 12% and, most upsettingly, small and medium businesses paid 28% more this year.
Unfortunately, it's now easier than ever to spend a lot of money and a lot of money poorly online.
What's Mark's advice to small businesses? He says: "in order to minimize your wasted spend and get the most return on investment so you can really reap the benefits of Google's growth, you need to stay on top of your campaigns and on top of these changes”
This is kind of general, but sensible advice. What have we learned here?
The link to the Wordstream webinar is here. The segment with the trends starts at about 4:50, and is followed by 50 minutes of an overview of the most important Google Ads features of 2019.
That's all. See you in the next episodes. Bye.