The single biggest reason why smart advertisers lose money on pay per click isn’t what most people think it is…
- It’s not the ‘wrong settings’ (although inappropriately selected settings are a big factor)
- It’s not a lack of technical understanding
- It’s not a lack of competitive intelligence
- It’s not the wrong keywords
- It’s not the wrong ad type…
So what is it?
I read an email last week from Perry Marshall, who wrote:
“Wrong assumptions are really expensive. Keep asking yourself: what are you assuming now that isn’t true?”
Ding ding ding! A small light bulb went off reading those words. Wrong assumptions – or more specifically an unwillingness to challenge, test and re-test your assumptions is the most expensive mistake.
Assumptions are mental shortcuts that allow us to get things done. An assumption can save you time, but often in pay per click they cost you money. They’re hard to spot, and tend to camouflage themselves, blending in with the furniture of how things are.
If you’re running ads you have to regularly ask yourself… what beliefs do you hold about the different platforms?
- Are video ads ineffective?
- Is Facebook for B2C audiences?
- Does remarketing ‘not work’?
- Is LinkedIn for business, or people looking for work?
- Is Twitter for everyone out of work?
Keep an eye out. Test small and often.