SportsLizard Entrepreneur Blog

Sunday, May 13, 2007

Wow - price guide on fire

Ok, so the Stumble Upon campaign turned out to be nothing more than some affordable market research. The feedback was nice, but my $0.05/visitor didn't result in many accounts. I spent Friday planning out my PPC campaign (keyword research, writing ads to split test, configuring AdWords to only show results in the US and not on AdSense, etc) and launched the bad boy on Saturday.

I awoke this morning to a slew of premium accounts and probably the best AdWords campaign ever in the history of the internet...EVER. For all of the "sports cards price guide" related terms we have a click through rate (CTR) of over 30% and an average cost per click of only $0.11! You read that correctly. Nearly 1/3 of people who search click on my ad (and yes, there have been over 1k impressions so it's not just 3 clicks in 9 impressions). How is this possible?

Well, primarily because we met a HUGE need in the industry that no one else has addressed. It's searched a ton, and no one has a solution. SO I can buy really cheap keywords, and people will click on my ads instead of the organic results because it's more relevant. I noticed that Google has begun showing SL's ads on the top (not on the side, this happens when you have a real high CTR) and highlighting them :)

In the 2 days the campaign has been running, we've been paying $10 for one premium account ($4.99/month) and about 25 free accounts!

So what does this mean? A few things:
  • I can now worry a little less about marketing and spend a little more on customer service, upselling free users, and adding features to increase accuracy and improve the satisfaction of our users (all really good stuff that is very important).
  • We'll almost certainly be trying Yahoo Search Marketing, MSN, and all of the smaller search engines....Google aint the only place you can run a profitable PPC campaign.
  • Just for shits - if we continue at this pace, we'll have a larger subscriber base than any of the print price guide magazines by 2010...hopefully we'll pick up the pace because I'd like to out do them faster than that :)
No doubt there are still things that need to be improved with the price guide, but it's hitting big so far and I'm still not even 30% through my initial wave of marketing. So far, so good.

I'm off to grab a beer and watch some hockey - Let's Go Red Wings!


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