I have a 3 day old bootstrapped start-up www.swellandgrand.com. Cash is tight, social media is kicking in, and we are wondering if Google Adwords will be worth the $$$. Appreciate any advice!
It all depends if there is room for arbitrage, meaning if you spend $100 will you make $150 or $200 or whatever your conversion rate would be for your business. That requires that you need to have some sort of knowledge on how to create an adwords account, selects the copy for you ADS (text or display ads), select if it is search or Google's display network and then run the ads by bidding on keywords or the alternative targeting methods google offers.
Run $50, $100 or even $500, target specifically based on geo location, target age and be sure you have the proper tools on your website to measure conversion. That is, you know how to build url addresses that track when you make a sale? get a call or whatever the activity you are trying to convert for.
I happen to have a free $100 credit on google adwords: hopefully no one will read it before you do :)
And if you want to test other growth hacking ideas more than happy to hop on a call :)
Hey, well i think that ADwords got very complex and that you should definelty consult with an expert before. The question is: How much budget are you willing to invest, what's your margin or customer lifetime and what would be you maximum CPA (Cost per acquisition)? In order to be able to estimate your budgets it would also be necessary to know your current conversion rate Visits > Sales.
When you hire an Adwords expert, what you're really paying for is
1. Ad text that grabs clicks. The highest CTR ads rise to the top and actually cost you less cash becasue Google is all about making their users happy. Low CTR = less revenue and higher cost. Lower CPC algos don't kick in right away. So I recommend a long-term strategy.
2. This expert also needs to understand your business. Because clicks that don't convert are useless. So you should have some recommendations from this expert on how to improve your landing pages. Creativity factors in here, and the expert needs an affinity with your market.
Basically this takes experience and experimentation. So if you have a good product and strong market demand, find and hire an expert.
there is no universal right answer to that question.
But if I was in your place, I would figure out a formula for your own TIME.
At the beginning, when everything is undone in your startup, you have to take care of as many things as possible yourself.
Then, there's that point when you realize that certain things become much more positively impacted when you do them yourself, and others much less.
Adwords is such an universal tool, it fits the requirements of almost any company. But therefore it also became a very complex tool, as its been said already.
That doesn't mean that you can't try DIY. All the knowledge, information and even free seminars are there. You can start Adwords on a small test scale, trying to absorb as much knowledge as possible and risking little.
Therefore, I disagree this question is answered by means of CPA, as much as it can be answered by means of TIME.
Back to my first argument, if you find yourself providing VALUE to your company on things that are high impact for your efforts, you will sooner or later realize that an Adwords specialist is going to save you time and of course, do a better and more specialized work as yourself.
So, SOLUTION: it depends on your TIME and how valuable (or impacting) it is vs the cost of having this outsourced.
Still, if the outcome is that is better for you to DIY for some time, I encourage you to ask questions, for example in the Adwords forums, or calling a specialist for more strategic or complex matters within Adwords, hence save you TIME.
Hope that helped!