Hi, I just start promoting my products using adwords. The problem I am facing right now is to figure out the approximate conversion rate so that I can set the bidding price for each keyword (I don't want my profit to be eaten up by adword fee). Right now my CTR of the two products I am selling is about 4%. Is it a bad number? Where can I find more info on the "normal" CTR? Also, when choosing the keyword, is it better to be concise, I have a few targeted keyword that get 15% CTR) or to be board (2-3% CTR)? The problem with a targeted keyword is that not many people are searching for the keyword even though I am getting the #1 position, very cheap bid and good CTR. What should be my strategy? Any idea? Thx in advance
In terms of your CTR question, check out: http://forums.digitalpoint.com/showthread.php?t=79952 I personally prefer exact match. It's more targeted and helps keep your costs down. True, the impressions usually won't be as high compared to broad or phrase, but if it's more targeted, it might improve your CTR.
I launched my online retail site about a month ago. I normally sustain around 4.5% conversion across my campaigns and it varies within groups from 1% to 29%. My sales conversion is currently just over 1%, and is similar for most keywords whether they have high or low CTRs - in other words there's not a huge difference between the customers I attract from high CTR and those from low - the way I see it those with lower CTRs just happen to be looking along with a lot more people at the same time for the product, but it doesn't make them any less likely to buy if I'm directing them straight to what they're looking for.... If that makes sense (been a long day !) Em