Make More Money With Google – Nicolas Darveau-Garneau Reveals Top 10 Tips to Help You
At this year’s virtual Inbound event, Google’s Chief Evangelist, Nicolas Darveau-Garneau, shared his top ten tips for increasing profits from your Google Ads investments. And he wasn’t messing around. With Daraveau-Garneau’s strategy, it’s all about the money (and making more of it) for your companies.
The speaker has worked with over six hundred Google advertisers in the past, helping them run successful ad campaigns. So, you can rest assured that this man knows what he’s talking about. Meanwhile, these ten practical steps are based on his work with his Google clients, and he promises that they can also help you make more money – with your Google Ads investments.
So, without further ado, let’s see in this review of the session what we can learn about making more money with our Google Ads!
Tip 1: Automate Your Strategy
The first tip may sound familiar to you, but automation can go a long way in helping you streamline all your digital processes. For example, you can use app campaigns for app downloads, shopping campaigns for selling things online, and so on. Besides, there are a lot of cutting-edge machine learning tools to help you achieve this.
So, if you haven’t leaned into the automation industry yet, it’s about time you do so. Because as Daraveau-Garneau puts it, automation is the key to success.
As you automate your strategy, it will expectedly lead to more efficient results. And as technological machinery continues to improve, we can only anticipate better things in the future.
That aside, some of the next tips also rely on automation. So, if you haven’t integrated machine learning into your system yet, that’s where you should first start.
Tip 2: Make Profitability Your Primary KPI
Your KPI or key performance indicator shows what you’re trying to accomplish or how you measure your success. For some advertisers, this may consist of making more money, but for others, it’s about increasing efficiency, which isn’t the right approach. According to Daraveau-Garneau, your primary KPI should always be making more money or increasing your profitability.
In other words, the investment you make in your Google ads should always bring you a higher return-on-investment (ROI). You can use this data to evaluate the success of your campaigns. But your ROI will likely depend on the volume of search results or the customers you receive. Hence, there’s no specific number representing success; it can vary according to the size at which you operate.
So, your ROAS (Return on Ad Spend) isn’t as important as how much money you’re making, even if it may not be meeting the ROAS target you had in mind.
A smart idea, though, is to create a live dashboard to share your KPI across the board and with your Google team (if you have one). In this way, you can ensure that everyone involved is aligned with the KPI and has the same priority in mind, which in this case, is maximum profitability. Also, a live dashboard enables you to see progress in real-time.
In short, as the speaker suggests, you should always aim to increase your cash flows as opposed to increasing the efficiency of your investment. Having the right KPI is one of the first steps in the right direction.
Tip 3: Test & Change Your Return on Ad Spend (ROAS) Accordingly
Despite ROAS not being as crucial as profitability when making money, you can and should still use it as a smart bidding tool.
It’s a good idea to give your Google machine system a ROAS target, for example, perhaps for every dollar you spend, you want 5 dollars back, etc. It will help streamline your automatic money-making processes and give the machine a specific numerical standard for analytics. So, Darveau-Garneau recommends bidding based on your ROAS but not focusing too much on it.
And more importantly, you shouldn’t necessarily stick to the same ROAS; you should always adjust or tweak it according to what’s making you the most money. You can test out different types of ROAS and see which one is most profitable for you. So, perhaps instead of five to one, four to one suits your business better, etc.
Depending on which ROAS is right for you (makes you the most profit), you can then use it to bid. And with Google, you can see ROAS results in real-time and figure out what’s working the best for you.
Tip 4: Invest As Much Money As You Can
Tip 4 is all about investing as much money as you can in your ads or having a “profit-maximizing budget.”
Wondering what that is? Let’s break it down for you.
According to Darveau-Garneau, you can start where you are today (with your current budget), but then slowly and methodically increase that budget every day. The critical thing to do is to consistently boost your investments over time because the more you invest, the more you can get back for it.
Ultimately, your goal should be to have no (fixed) budget at all. As Daraveau-Garneau says, your marketing budget should be an “infinite” one. Hence, you should have a profit-maximizing strategy for your Google Ad campaigns.
But to achieve this, it’s also essential to include your CFO and CEO in the process of ROAS and keep your team on board with the slow increase in the revenue. It’s impossible to get an “infinite budget” approved overnight. Hence it’s smart to include them in the process and show them as you gradually increase the budget.
And the only way you can maximize your strategy for Google Ads and move towards a no-budget marketing plan is to test ROAS consistently and compare the different results.
Tip 5: Have a Margin ROAS Strategy
Different products or services tend to have different ROAS margins, which means that not every product is supposed to bring you back to the same amount of revenues. The solution is to move to a margin ROAS strategy instead.
For example, if two customers – Customer A and B – purchase merchandise of $100 from you, you may want a 4 to 1 ROAS, which means Google will invest $25 for both customers. But what if Customer A’s transaction is a 20% margin transaction, and Customer B’s is an 80% margin transaction?
Therefore, you must understand that customer transactions aren’t equal. When you share these margins with Google’s machine learning tools, it can also understand how to adjust accordingly. And you can bid higher for higher-margin transactions so that you can make more profits as a result. It’s all about moving from a revenue mindset to a margin mindset.
Tip 6: Let Google Help You with Offline Business Too
Whether you have an online or offline business, typical machine learning tools like that of Google can be a gamechanger. So, instead of thinking of Google as merely a tool to optimize your E-Commerce strategy, you can think of it as a tool for your entire business.
When it comes to your offline business, it can help drive phone calls, visits to your store, etc. And you can assign values to these. Then, if you share that data with Google, it can optimize everything for you. So, you can optimize your ROAS across your business (instead of just online) and make more money as a result.
Tip 7: Have a Full Funnel Marketing Strategy
Most performance advertisers spend a lot of time thinking about a funnel marketing strategy. But Google evangelist, Darveau-Garneau, emphasizes that it’s crucial to have a full-funnel marketing strategy (a holistic approach) if you want to make more money.
For example, YouTube has expanded from straightforward ads to a form of marketing that’s a lot more comprehensive. We can take advantage of this to brand our business in a more extensive way.
Another way you can move towards a holistic marketing plan is by building that live Google dashboard. It will help you see everything in one place.
Tip 8: Have Better Creative
It can probably help out a lot when it comes to machine learning, but it can’t write creative ads that would steal the show. Creativity is a quality that only humans can have. So, the speaker recommends building a robust creative strategy. We should spend time both on ad development and search creative.
Many advertisers don’t spend a lot of time thinking of the actual ad itself. If you can catch your viewers’ attention, it can significantly impact your conversion rates. You can make your ads more personalized and detailed to speak directly to your audience.
Tip 9: Improve Your Conversion Rate
Having a high conversion rate matters a lot. Your aim should be to remove as much friction as possible between your content and your products, making it easy for customers to buy from you. By personalizing your user interface, you can ensure that your website works well for your audience.
Meanwhile, advertisers often add details and creativity, a smart strategy to build a brand image. You can even have different pages for different types of customers – based on age, location, gender, etc.
In the end, your goal should be to have a conversion rate that’s as high as possible.
Tip 10: Think About the Long-Term Profit Margin
Not every customer will be worth the same amount of money to you over time. In other words, customers are likely to have different life spans with your brand. So, if you knew that one customer would bring you more revenue than another, wouldn’t you bid more on them?
It’s all about how well you know your customers and the ability to forecast consumer behavior. You can even take help from people associated with Google for this as they have a lot of experience in the field. And then, if you can transfer that information to your machine learning algorithm, it can bid more on the customers that you know will benefit you more over time.
So, instead of only thinking about the short-term, you should also plan for the long-term and carefully consider which consumers are likely to be more profitable to you over time.
If your goal is to make more money with Google, then these ideas can do wonders for your business.
A few essential tips to remember are automating your strategy, using ROAS as a smart bidding tool, making profitability your primary KPI, letting Google help you with offline business processes, and having a full-funnel marketing strategy. These were among the few unique insights that speaker Darveau-Garneau shared with us at Inbound 2020, and you can go a long way with them!
But for starters, the speaker suggests that it’s better to start with two or three of these strategies and test them out for the next few months before moving on to the next ones. The idea is to build upon your methods and strategies with time slowly.
We do hope that you’re able to do that efficiently, so good luck!