le Ads Lead generation: A six-step framework for success

Lead generation advertisers who are successful view marketing not only as a source of leads, but also revenue. Ecommerce advertisers use the simple formula “invest X and get Y” in revenue.

Lead generation advertisers can achieve the same results – but only if their Google Ads strategies are updated to drive higher quality leads.

We can sometimes operate as an ecommerce company.

Google Ads can be a complex tool for lead generation, and there’s no one-size-fits-all solution.

Advertisers can be paralyzed by indecision or Google’s product limitations. As close as possible to actual revenue.

I am no longer an employee of Google, but I still advocate for best practices. High Quality Leads Framework (HQL) is the key to sustainable, profitable growth in lead generation.

Why is the quality of lead so important?

Not all leads have the same value. Google may generate more leads, but their quality and intrinsic value will vary.

Google wants to know how valuable your leads are for your business.

Google is less concerned with the minutiae. You will not grow your business consistently with tight targeting and granular structure.

Imagine the power performance max would have if it was only used to optimize for high-quality and high-value leads.

Google AI will benefit from as much data possible. To drive growth, narrow the circle and open up the targeting taps for Search and other networks.

Google Ads: 6 steps to high quality leads

Phase 1: Alignment of internal alignment with business goals

All should work towards the same goals.

We often hear the board say that this year’s goal is to increase profits by 25%, while the marketing department is asked to feed the sales team a 25% increase of leads regardless of their quality or value.

Why not increase volume and improve quality?

Phase 2: Map your lead-to-sale journey

It is the first step.

If we take the time to accurately assess these factors, it will help us to determine what we can do to move closer to revenue generation.

As if you are a prospective customer, map out all touchpoints online and off until the revenue stage. Grab a sheet of paper. You can do this in a Google Doc or spreadsheet.

Remember the following:

Here is an example of how a SAAS business can go from lead to sale. This will vary for each business and may include multiple steps.

We can now decide which stage of the lead-to sale journey to optimize for and tell Google what leads are more valuable to us.

In the above example, I would advise my client to optimize towards SQL with dynamic values that are based on company size and predictive lifetime value.

Why? Why?

Why not “Contract signed”?

If this data is not imported to Google within 30 days, it will take a long time for you to learn.

Also, 30 conversions in 30 days is on the verge of being too little. We’ll go into more detail about this in the next phase.

Phase 3: Selecting the point(s) for optimization (and assigning value where applicable)

Smart Bidding will be able to make better decisions at auctions if it has more information about what looks good.

Keep these key points in mind:

Freshness of the data

Google can technically optimize for actions that occur 90 days after a click. The auction could be completely different and the learning period too long.

It is recommended that you do not optimize for anything after 14 days.

It is always better to have fresher data, but you should also consider whether the higher quality of leads is worth it.

Volume of conversions

Google technically can use conversion actions with 15+ in a period of 30 days.

The more the merrier. I recommend using conversion actions for 50+.

Can you import offline data into your business?

Assess if the investment is worthwhile. Google is directly integrated into CRMs such as HubSpot, and Salesforce.

It is also a question whether this will remain a viable option once the Digital Service Act comes into full effect in 2024.

You can assign values to distinguish between conversion actions or each lead.

You can do this in many ways:

All conversion actions being treated as equal is an improvement even if static values are used.

In the example above, we tell Google that we prefer demo requests three-times more than free trials.

Google would not have this information otherwise. Smart Bidding will adjust accordingly.

Adjustments based on actual performance

This isn’t a “one-and-done” scenario. Your strategy should change if volumes or values shift.

Google Ads has evolved to be more about providing it the right data than it is about making minute adjustments. Understanding how this strategy affects your bottom line will help you adjust.

Conversion actions at the same stage in the lead to sale journey can be optimized.

Don’t optimize for multiple stages of the same journey. Smart Bidding does not yet take into account funnels.

When possible, pre-qualify conversions online

Use data layers to pre-qualify users that you want to convert. You can ask about the size of your company or your job title, or you can implement a booking software like Calendly.

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Terms.

Google Smart Bidding can be used to take advantage of the additional data.

Smart Bidding has become a standard in my business. I no longer need to convince anyone that it is the right thing for them.

It is still important to understand how to best use these bid strategies.

Keep in mind the following:

Conversion volume

The threshold for Target ROAS (tROAS), which is based on conversions, remains at 15 per account. This is too low in my opinion.

Use Maximize Conversion Value until you hit 50.

Test, test and test

Test the value-based bidding versus conversion-based bidder using Campaign Experiments if you have the volume.

Before you begin, make sure that you are clear about your goals. What is good for you?

Expect volatility at the beginning

Volatility will occur when you switch to a different bid strategy or conversion action. It is important to minimize this volatility as much as you can.

Smart Bidding relies on data to work. In the short-term, you’ll probably need to tweak your Smart Bidding system.

Be aware of the fact that you will go through a period of learning where your performance might be disappointing.

Campaign vs. account-level goals

Google will learn at the account level and cross-campaign when given the opportunity. Where possible, use account-level objectives.

In certain circumstances, campaign-level objectives make sense. Later, I’ll talk about some of them.

Phase 5: It’s time for growth

Let’s assume we now get more qualified leads, or at least, more of the most valuable types of lead. Now is the time to maximize. Enter Broad Match.

Broad Match was not a good word during my first seven Google years.

It should now be seen as the match type of choice for performance advertisers.

Smart Bidding allows you to enter into more auctions while limiting your participation only to those that are most likely convert.

Test it if you haven’t done so yet.

Here, again, you’ll want to experiment with your campaigns.

You can expect to see an average 25% increase in conversions for the same CPA/ROAS.

Keep in mind:

Generic is not a brand

Although technically you could use Broad Match to run brand campaigns, it is not recommended.

Your brand campaign will likely generate non-brand clicks.

Transparency

Google limits the number of queries that are visible in the Search Terms Report. Broad Match is still worth testing.

Negative Keywords still exist, but it is more important to ask Google to optimize for the conversion actions we want.

It is important to be creative.

Now you can ask a wider variety of questions.

By optimizing responsive search advertisements regularly, you can ensure that your quality score is as high for each query as possible.

No stone left unturned

For maximum coverage, combine Broad Match with Performance max and dynamic search ads groups.

Account structure

Other AI products, such as RSAs, work in silos. More data equals better performance.

SKAGs (single-keyword ad group) are not good. The account structure can be used as a guide on its own. I’ll leave it there.

Phase 6: Diversify

Drive awareness and consideration. This phase is not for every business; some may be at a much earlier stage of digital maturity.

Advertisers that do reach us should consider the following:

Change of tactics

It is pointless to use a video campaign or display campaign in order to optimize for offline qualified leads. It’s likely that you will get very little traffic.

Consider optimizing your video and display campaigns to achieve a higher conversion rate.

Some advertisers may be interested in lead forms, while others might be more interested in website engagement.

Invest in creativity

You can use these channels to educate or tell stories about your business. This space is yours to use.

Impact can be measured in different ways

This channel will not provide a direct response like Search.

Measuring the success of these channels for a longer time period with account-level metrics is advisable.

Has my CPA decreased and conversions increased in the last three months? You can also look at the organic conversions.

Lead generation success with Google Ads

Every lead generation customer is unique.

Not all of this will be applicable to your business, depending on the goals, audience, and customer journeys.

Even though you may not be able to hear them, knowing your customer is still important. Tell Google who your customers are.

The article Google Ads: Six steps to success first appeared on Search Engineland.

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