I've invented some products which pricewise are similar to my products but otherwise completely different.
I'm wondering how much adwords budgets you all feel you would need to sell this imaginary range ( I've totally made up the product) . I'd be intrigued to see what you all say because it might suggest to me whether I'm doing ok with my stuff.
5 Software language CD roms at $20 each (5 different languages)
Need to achieve total sales of 50 per week (average of 10 of each) so would have campaigns along the lines of
1. Language software
2. Learn french
3. learn spanish etc...etc..you get the idea
I reckon an adwords budget of about $5 per product (i.e. 25%) Could you do better?
I know that different markets behave differently etc, etc. but have a go anyway!
Month 1: $1500 spend, $1000 gross, $500 loss, 0% ROI
Month 2: $750 spend, $1000 gross, $250 profit, 33% ROI
Month 3: $250 spend, $1000 gross, $750 prof, 300% ROI
Month 4: $200 spend, $1000 gross, $800 prof, 400% ROI
Now, what the heck do I mean? I mean, unless you are really lucky it will take time tweaking ads, adding keywords and playing with bids to get better and better ROI as the months pass. In month 4 the ROI acheived is 400%. That's pretty good. If you can do better than that then you're doing quite well. (Assuming all PPC and no free SE traffic).
Dave