Simple Ways to Get the Most Out of PPC and Miva Merchant Stores
Target Popular and Specific Phrases
It is a waste of time to create ads based on words or phrases nobody searches for anyway.
Note that popular doesn't necessarily mean the most popular. If you sell all kinds of gift baskets, target specific category or product names rather than just gift baskets. Gift baskets maybe the most popular phrase, but it may be too general. Targeting specific types of gift baskets will bring you more targeted buyers.
To find out the popular and specific phrases that relate to your site, use Word Tracker or Overture's Keyword Selector Tool. I use Word Tracker since it does the last 120 days versus 30 days with Overture's tool. Word Tracker also gives additional information to help you with your key phrase decisions. I have subscribed to the yearly plan since it is the most bang for your buck. You should check for popular phrases in your market from time to time and not just once.
Link to Specific Pages
Now that you are targeting popular and specific phrases, don't just send people to your homepage. If an ad is targeting gift baskets for him, your conversion rate will be much higher if you sent them to the gift baskets for him category or maybe your most popular gift basket in that category.
Track Your Links
Google, Overture, and other pay per click engines have tracking code to insert in Miva Merchant's invoice screen. However, I have found that it is easier and simpler for end-users to track ppc ads through their Miva Merchant admin with the use of an affiliate tracking code. Setup each ad as an affiliate and then track how many hits and orders each ad generates. Don't use Miva's built-in affiliate program! If someone comes to your site through an affiliate link, leaves, and then comes back again, it probably won't be tracked. You also have to click on each affiliate, than one more click to see how well it is doing. Viking Coders' Affiliate Manager is a far superior program. You can view all affiliates on one screen including hits and orders. There is also an option to have an email sent to the affiliate's email when an order is placed, so you can be notified every time a specific ad generates a sale. On top of all this, you can start an affiliate program too!
Measure Your Conversion Rate and Return on Investment - Assuming you are already targeting popular and specific phrases, writing good titles and descriptions, and your landing page (page where customer arrives after clicking ppc ad) makes it easy to order, etc., here are a few more things to consider.
Conversion Rate - If ad #1 gets 500 clicks and it generates 30 orders, the conversion rate is about 17% (# of clicks divided by number of orders). That is better than the average ppc user. If your conversion rate is 5% or lower, you may need to change either your key phrases, title, or description. ( Affiliate Manager makes it easy to see the amounts of clicks and orders for every single affiliate on one screen.) Can you see how general phrases and linking to just your homepage can lead to a much lower conversion rate? A customer will click on the ad targeting a general phrase hoping to find a specific item. When they can't find it right away, chances are they will leave. If you give them the specific item upfront, the chances that they will make a purchase are much higher.
Profit Per Conversion - Using the example above, let's say those 500 clicks cost $312.50 and the total sales from those 30 orders was $1500. That is about $40 per conversion which is great. (Total sales minus cost of clicks divided by number of orders *Note that this doesn't take cost of goods sold into consideration - hosting, packaging, etc.). If your profit per conversion is lower than your average cost per click, change your key phrases, title, or description, or consider dropping the ad entirely and concentrating on other ads.
Hopefully this information will help you improve your Miva Merchant store's pay per click campaigns. I don't claim to be an expert on pay per click, so here are a few companies who are and offer pay per click management services:
