According to the DOJ, the cost-per-click (CPC) for Google searches has more than doubled from 2013 to 2020. This increase in cost is impacting businesses as they are now paying more for the same amount of traffic. Additionally, the traffic quality has declined due to Google's expanded match types, which reduce the relevance of ads. Responsive search ads, although touted as the next big thing, often fail to deliver the expected impact or click-through rates.
This situation is not just about increased costs, but also about a degraded search experience compared to a decade ago. For business owners, the following strategies are suggested:
- Boost Your Site's Conversion Rate: Increasing the conversion rate can offset the rise in CPC costs. The more effective your website, the less financial loss you experience.
- Invest in Organic Growth: Diversify by enhancing organic search, leveraging social media, and crafting compelling email campaigns. Create content that captivates and engages your audience more than any ad could.
- Explore Alternatives: Depending solely on Google for traffic is risky. Consider other search engines and digital platforms to maintain profitability.
Hiring digital marketing professionals is recommended as an investment in your business's future. Sticking to old strategies can lead to dwindling profits. Innovating your approach and staying ahead can help your business thrive despite the odds.
