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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Accountant | Demystifying Online Advertising

Online advertising can be very confusing and overwhelming to all business owners, and especially new entrepreneurs says Edmonton accountant. It can be very easy to spend money and not see any results. Therefore, an entrepreneur should be creating a marketing plan with their Edmontons accountant so that they can have a plan in place that is not only effective, but more likely to generate results for business owners.

The first thing that entrepreneurs need to understand, is that if they do not have a minimum of forty Google reviews on their business, the money that they are spending online will be wasted. The reason why, is because 88% of consumers who are looking for product or service online will look at a business is Google reviews in order to make their purchasing decision. Businesses that have under forty reviews are seen less positively, and it will impact a consumers buying decision. Therefore, business owners need to first ensure that they are getting to forty Google reviews in their business before deciding to spend money online. However, once they have reached that critical number, not only are Google AdWords less expensive, but all marketing efforts that they use will be much more effective says Edmonton accountant.

Businesses who are ready to advertise online need to consider what the most effective marketing strategy will be. All an entrepreneur needs to do is consider where most people go when they are ready to buy a product or service online. Edmonton accountant says the vast majority of consumers simply go to Google, and type in a search term for that service. For example, when at person has a flooded basement and they need a plumber immediately, the place that they are going to first to find that plumber is Google. Understanding that, business owners should spend money on Google AdWords because it is very effective.

How Google AdWords works says Edmonton accountant is an entrepreneur chooses the keywords that they are going to pay for, and they pay Google every time a consumer searches for those words, and an entrepreneurs add populates in their search results, and a customer clicks on it. The reason why consumers click on the ads first, is because they are are going to appear in the search results first. They will appear above the map listing and even above the organic search results. Entrepreneurs need to understand that Google AdWords are very effective. The only drawback to that is with how effective they are, there are a lot of advertisers online, and therefore the competition for those keywords is fierce. The more popular keyword term is, the more a bit so owner has to pay every time someone clicks on their ad. The less popular search terms can literally be pennies a click, while some of the most popular search terms can be several dollars, even upwards of 15 to 20 dollars per click.

When entrepreneurs are ready to advertise online, they need to come up with a strategy that will have them spending money in the most effective places, and getting the best return on investment for money that they are spending.

Edmonton Accountant | Demystifying Online Advertising

When business owners are ready to advertise their business online, they should be taking several things into consideration says Edmonton accountant. This will ensure that they are spending their money effectively, and generating customers that they would not of found otherwise. The reason this is important, is because 50% of all entrepreneurs fail within five years, and the single biggest reason why, is because entrepreneurs are not able to find customers for their product or service. Therefore, effective online advertising can help minimize this risk, help business owners succeed.

When it comes to online advertising, the single most effective method is Google AdWords. This is extremely effective, but the competition for search terms can be fierce for the most popular search words. Therefore, if an entrepreneur is in an industry where there is a lot of competition, they can expect to pay a lot of money for every click. However, Edmonton accountant says before that deters entrepreneurs from using Google AdWords, they should take several things into consideration.

The first thing that they should consider, is how many customers they need to get purchasing from them to make that expensive click worthwhile. For lawyers or car dealers, it is effective to pay several dollars per click, because the amount of money that they are going to make on those customers is a lot larger than other businesses.

The next thing that business owners should consider, is that if they use a retargeting product, that can help minimize how much money an entrepreneur has to spend on Google. However works, is once a person has clicked on entrepreneurs at once, retargeting product will ensure that business owners add get seen in other places online, helping business owners add get seen more, to encourage that consumers to click on their ad. By using retargeting, entrepreneurs can minimize the amount of money that they have to spend on Google, while still getting effective results.

While this is an effective strategy, business owners can also consider using YouTube because there is much lower competition on this platform then Google. Therefore, business owners can have a thirty second ad play prior to the person watching a video. How YouTube chooses what ads are played to which viewer, depends on the search terms that they were using prior to going onto YouTube. If they had been looking for product or service similar to what an entrepreneur sells, their ad will get played for the consumer. And instead of several dollars per click, YouTube advertising costs only pennies.

While online advertising can be very overwhelming, Edmonton accountant says coming up with a marketing strategy can help entrepreneurs understand the most effective way to spend their money online. It is likely going to be a number of different things, rather than putting all of their money into one form of advertising. However, by coming up with a strategy had of time can help entrepreneurs understand which methods they are going to use that they can find customers for their business.