Hello, my dear fellow search marketer, and welcome to 2023.
It’s time to make some New Year’s resolutions, or at the very least, be prepared to make some changes for the new year.
Unlike my New York Jets, there is ample opportunity to drop the crappy “guru” you’ve hired, forecast out a budget (even in a recession), play with a new bid strategy, make memes about Performance Max/GA4 and give Bing (I still refuse to call it Microsoft Advertising) the fighting chance it deserves.
Also, don’t forget to migrate your Twitter ad budget to something actually stable.
So, let’s discuss what you should be doing now, what you went through in 2022, and what you need to do in 2023.
Think of this as a really nerdy and “snarkastic” visitation of three ghosts.
What Should You Be Doing Right Now?
It’s the beginning of 2023, so you’re running a bit late – but you can still make up for lost time.
Forecasting A 2023 Budget
You’ve seen how to forecast search budgets year after year: the old “determine impression share (IS) lost due to budget and had 3%-5% increase in CPC assuming strategy stays the same” method.
Then the pandemic came along, and forecasting got a little iffier. Now, that method lacks some weight.
The reality is, if you keep with that approach, fine, not the end of the world, but understand that cost per click (CPC) growth, especially on brand terms, saw some obscene growth in 2022 (starting around April).
Why? There are a variety of theories, but for now, let’s just call it “...
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Published by: Book Club