How to Run a Breakeven Analysis for Paid Marketing

how to run a breakeven analysis for ppc

Starting a new paid marketing campaign is no easy feat.

There are logistical considerations, financial considerations, audience considerations, duration considerations.

Let’s imagine you’ve decided to start a new Google Ads campaign. You have a vague idea how much everything will cost, and you’re eager to get started.

Before you hit the green light on your new campaign, you need to know about your future profitability, particularly when your profits will break even with your costs.

Why does that matter?

At that point in your campaign’s lifespan, you’re primed to start turning a profit rather than existing in the red.

How do you determine that point?

By conducting a breakeven analysis.

What Is a Breakeven Analysis?

Whether you’re running a PPC campaign, adding a new advertising stream to your ongoing strategy, setting up an e-commerce store, or even opening a brick-and-mortar store, you need to conduct a breakeven analysis.

As we mentioned above, it lets you know when you can anticipate your endeavor to start paying off.

Beyond that, this analysis lets you know if your endeavor is viable or if it will be impossible to achieve financial success given your business model.

By helping you determine fixed costs (expenses like rent) and variable costs (like materials), you can set prices that reflect these expenses and predict when your business will move into the liminal space between expense and profit.

This stage of in-between profit and expense is referred to as the breakeven point (BEP), the stage when revenues equal costs. Once you’ve identified your BEP, assess all your costs from rent to labor to pricing structure to ensure you’re not spending any unnecessary money.

First, determine if your costs are too high or your prices too low to reach your BEP in a manageable timeframe.

Next, decide if your plan will be sustainable.

Not only does your BEP alert you to a specific event that should signal your move out of the red, but it also lets you know if you need to adjust your business spend.

Why You Should Do a Breakeven Analysis

The breakeven analysis is a hallmark of every good business plan. It allows you to determine cost structures and if you should move forward.

While it may seem like a breakeven analysis can only be completed before starting your business, this process can be helpful well beyond business launch.

By assessing and reassessing your business’ cost structures, you can forecast several different outcomes regardless of where you are in your company’s lifespan.

Benefits to conducting this type of analysis include:

  • correct pricing of product or service
  • view of profitability
  • provides information to adjust strategies for progressing
graph of break even analysis equivocation point

When Should You Complete a breakeven Analysis?

A breakeven analysis can be conducted at any time. However, there are four distinct actions that should trigger this analysis at your business:

New Business

As we mentioned above, conducting a breakeven analysis for a new business is vital for determining viability and pricing structure.

New Product

If you’re adding a costly new product to your business, you must calculate your BEP to ensure the potential gain is worth the cost.

New Sales Channel

Costs change whenever you incorporate a new sales channel. Whether those costs are contingent on the channel itself or the associated marketing expenses, be sure to conduct a breakeven analysis every time you add a new sales channel.

New Business Model

When you switch to a new business model, your costs can change drastically. To make sure the new model is sustainable, conduct a breakeven analysis.

2 Steps to Run a Breakeven Analysis

Hopefully, we’ve conveyed the value of this type of analysis, regardless of where you are in your campaign or business journey.

Below, we break down the steps to run an analysis.

Aggregate Data

Identify all the expenditures you foresee for your business and divide those costs into two categories: fixed and variable.

  • Fixed costs: These expenditures refer to any expenses that stay the same, regardless of your business’ success or failure. Categories include rent, labor (if full-time/set), and software subscriptions.
  • Variable costs: These costs refer to any expenditures that are contingent upon how much you sell. Consider materials, payment processing, labor (if part-time/fluid).

After you’ve identified all of these costs, decide on an average amount for each expenditure. These aren’t set in stone, but they should be within the realm of possibility for each commodity.

Compute

The formula for breakeven analysis is a two-step process.

  1. Calculate how many breakeven units are necessary using this formula: fixed costs divided by (revenue per unit minus variable costs per unit).
  2. Determine your breakeven sales volume by using unit sales price times breakeven units.

This final breakeven sales volume point allows you to determine if your business is sustainable if your goals are reasonable, and how to adjust your pricing and spend accordingly.

break even analysis formula graphic

How to Track a Breakeven Analysis

While your breakeven point isn’t the final word in the ultimate success of your venture, it’s still a milestone indicative of your business’ growth.

As you launch your campaign, store, or product, keep an eye on your breakeven analysis and adjust as revenue rolls in or unforeseen expenses occur.

To keep your analysis up-to-date, you could use Microsoft Excel to crunch the numbers for you.

Use Excel’s Goal Seek, a tool that allows users to define by either unit or price.

The Goal Seek function allows users to break out specific amounts and conduct auditable adjustments.

To complete this function, follow these five steps:

  1. Enter the terms seen in the image below step two in column A of your spreadsheet.
  2. Key in the below formulas to calculate revenue, variable cost, and profit
  • Revenue = Unit Price x Unit Sold
  • Variable Costs = Cost per Unit x Unit Sold
  • Profit = Revenue – Variable Cost – Fixed Costs
excel breakeven analysis
  1. Select Data > What-If Analysis > Goal Seek.
  2. In the open Goal Seek dialog box, please complete the four below actions:
  • Specify the “Set Cell” as the Profit cell (B7 in this example).
  • Specify the “To value” as 0.
  • Specify the “By changing cell” as the Unit Price cell (B1 in this example).
  • Select OK.
excel breakeven analysis

Using Excel’s Goal Seek functionality, you can plug and play different scenarios as they arise. This tool also allows users to forecast what-ifs, enabling planning for eventualities that may or may not occur.

Through experimentation, you can help prepare your campaign, business, or product for any eventuality.

What to Do If Your Breakeven Analysis Was Wrong

While a breakeven analysis can be highly beneficial for assessing the sustainability of your campaign or project, the formula is not without its limitations.

Unanticipated external factors can wreak havoc on your formula, resulting in incorrect projections and measurements.

These factors can include:

  • lack of demand
  • incorrect data
  • lack of nuance in the formula
  • time fluctuations
  • competitors

These five factors can dramatically impact your breakeven analysis.

In addition to these external forces, what if the result of the breakeven formula is unattainable for your budget?

Should you ditch that new advertising channel altogether or give up on your dreams of a brick-and-mortar store?

The answer is no.

Below, we break down three strategies to enact if your breakeven analysis shows unsustainability for your next venture.

Reduce Fixed Costs

Is there an opportunity to reduce your fixed costs? Take it. The lower your fixed costs can go, the fewer units you need to sell to reach your breakeven point.

Increase Your Prices

When you increase your prices, you reduce the number of units you need to sell to break even. A general caveat is to be mindful of the expectations that come with an increased price and what the market will realistically pay. The more you charge, the better product or service your consumers expect.

Reduce Variable Costs

Reducing variable costs can be challenging, but the more you can scale, the more you can lower variable costs. Regardless of what industry you’re in, consider changing your processes, negotiating with your suppliers, or changing materials.

Conclusion

Regardless of whether you’ve decided to start advertising on Instagram for the first time or are opening the doors to a brick-and-mortar store, the accuracy of a breakeven analysis is complicated.

To ensure you get as close as possible to the correct figure, be sure to get into granular detail on the costs and prices that correlate with your business.

In addition to possessing a thorough understanding of the costs associated with delivering your message or product to consumers, you must know the right price to charge for your product. Miscellaneous expenses add up; consider all possible variable and set costs.

To ensure you’re identifying the right price points for these items, analyze every product, service, or resource your business uses, produces, sells, or plans to sell. By organizing these items by profitability priority, you can further reduce costs and potentially reach your BEP sooner.

As you near the breakeven point, be sure to continuously monitor your performance through other metrics—breakeven analysis is just a tool in many that can help your business succeed.

What’s your best practice for identifying all variable and fixed expenses?

How to Monetize Your Website in 2021

With a bit of hard work and implementation of smart strategies and tools it is possible to monetize a website in 2021! 

But before I tell you about these website monetization strategies, there are some things you should consider.

Monetizing a website takes time and dedication. You may not earn the expected amount at first, but don’t allow that to be a barrier between you and your freedom.

To achieve the results you want, there are some universal attributes each seven-figure website possesses. 

Today, we are going to unearth those characteristics, learn how to implement them, and turn your website into a profitable business. 

Let’s get started!

1. Start with Affiliate Marketing 

Affiliate marketing is one of the simplest ways of earning money as it’s 100% passive income, and you don’t even need to create your own products or services. 

According to research by Alchemy Coder, eCommerce has progressed at a spectacular rate after the pandemic, which resulted in the new affiliate marketing golden bubble.

The research shows that the same pandemic forces steering the rapid-fire growth of eCommerce websites have also resulted in unemployment. People who lost their jobs started looking for different ways to make money online and some have found affiliate marketing as a good way forward. 

It just takes three steps to begin with affiliate marketing:

  1. Create an account with sites offering affiliate opportunities like Amazon
  2. Find products that are relevant and beneficial to your targeted audience.
  3. Promote these products on your website. Or add one landing page as an online store.

Then, when your website visitors use your affiliate links to make the final purchase, you receive a portion of the total amount as a commission. It can be anywhere between 30-70%, so there is great opportunity out there to endorse products and make money.

However, there’s a catch. For an affiliate marketing success, you need to:

  • Properly reveal your affiliate links or how you are connected with the products or services
  • Don’t promote anything or everything without testing the quality of products or checking reviews
  • Recommend only products and services that your audience want

If you are set to begin your affiliate journey, make sure you have access to essential affiliate marketing tools. These tools use unique tracking links to record leads driven by each affiliate program. They also give you a 360-degree view of how affiliate links are performing and how much you earn from each.

2. Create a Profitable Podcast

As podcasts continue to mushroom, more and more people are jumping on the opportunity. They are setting up new shows to reveal their expertise, build a personal brand, grow an audience, connect with more influencers and enhance their business exposure.

Many people have added podcasting as a part of their marketing strategy and are successfully generating income out of it.

If you too have something to share with the world through podcasting, here are a few ways you can profit from your show:

  • Sponsor Your Podcast: Generally, sponsors aim to sell their products or raise brand awareness. They are ready to pay you based on the total number of podcast downloads. Some sponsors pay you per 1000 downloads – known as the CPM (cost per mille.) Other advertisers or companies pay you based on the total sales your podcast generates.
  • Boost the Sales of Your Products and Services: If your podcast is relevant to the products or services you sell, you can think of many ways to slip them into your podcast conversation. Natural mention of the product, benefits or an exclusive discount on the relevant product can increase sales.
  • Repurpose Your Content into a Paid Product: By knowing which part of your podcast listeners like the most and what they want to know more of, you can quickly turn these topics into a saleable product like an ebook or tool.

Let’s say you run a lifestyle business. You could create a podcast on how to live your lifestyle and generate income simultaneously. Then, you could find sponsors in the fitness world as it’s relevant to the lifestyle industry and sell their stuff on your podcast. 

Take it further and promote your products or services like a book on living your life fully. Finally, collect some insights from your podcast regarding what your audience is interested in. Perhaps it’s generating income while travelling the world. Convert those insights into a sellable product (maybe another book). Then repeat the entire process to keep your income flowing.

Now, if you’re ready to start a podcast, you need a home to host your podcast where you can store your audio files and build an RSS feed of your podcasting channel. The platform will keep all your podcast episodes organized and distribute them to popular directories like iTunes, Spotify, Google Play, etc.

3. Side Hustle with an Online Course

If you have something valuable like a skill to share, you can create online courses out of it and sell them on your website.

The e-learning market is estimated to reach $325 billion by 2025. So you will never run out of students if your online course adds value.

Plus, monetizing a website through courses is a simple process that anyone can follow:

  • Select a topic/niche/skill
  • Develop a new website or include your course into an existing one
  • Upload the teachings and promote them

Creating online courses can be a lucrative solution as your website traffic is a crucial source of income. 

More traffic = More Clicks = More Income

If you are a recognized authority in your field and have a strong brand presence, you can introduce a certification program. It can be an advanced e-course associated with homework, exams, and scores.

Copyblogger, a well-known content marketing tools and training site, provides an authority program for content marketers and writers. The blog (and the bloggers) have unquestionable credibility in their industry, which puts a stamp of approval on their programs.

While the idea behind an online course is easy, the process of actually creating them isn’t. It involves more than just recording a video. You have to build an eLearning site, an entire step-by-step course program, develop assignments (if necessary), design the course chapters, and much more.

However, online course creation platforms streamline the entire process. These platforms provide all the tools you need to create, teach, launch, and manage your e-course—so you can concentrate more on developing valuable content.

4. Launch a Paid Membership 

A membership website is a restricted part of a website charging a small fee from members to give them access to unique, premium content. Also known as the paywall method.

Take Ness Labs, for example, a site helping people work mindfully. It restricts access to some of its content, thoughtful discussions, events, and special deals for premium subscribers.

The reason why membership sites work is that if your content is worth improving people’s lives, you can charge people repeatedly, like monthly, quarterly, or yearly, to give access to protected content. Members will happily pay to keep the valuable information flowing and to keep their account active.

If you want inspiration to turn your free content into a paid one, you can look at some successful examples with six figures income. 

Online forums are another excellent way to communicate with your online community, solve their problems, and make money while doing so. The simplest way to monetize forums is by granting paid access to groups as per their needs. For example, if you run a health and fitness website, you can develop an appropriate pricing forum for losing weight or developing strength. This way, users focusing on the diet will pay to connect with diet conscious people and muscle gainers will pay to gain knowledge on strength building.

5. Sell Digital Products

Selling digital products is another excellent monetization method if you have little time as it doesn’t require you to create content continuously, like blog posts. You create the product and then promote it to your target market.

There are numerous options for selling digital products online. Here are some popular categories: 

Ebook

Turn your expertise into an ebook and put a price tag on it. For instance, Tiffany Alliche is a financial educator. She has published many successful ebooks on money for both student and non-student audiences.

Music

Thanks to the ability to store and send audio digitally, we can sell music online. DECAP, an American record producer, sells his drum kits online.

Meditation Recordings

In today’s world more and more people are seeking easy ways to destress and mediation is a great way to do it. The top 10 meditation apps alone earned a whopping $159 million in 2020. If you can record guided meditation audios, you can turn them into Mp3 formats and sell them on your site. 

Affirmations

Affirmations are positive statements helping people cope with self-sabotaging and negative thoughts. For example, a statement like “I am love. I am purpose” can generate positive thoughts. You can create an entire ebook on positive affirmations and sell them on your webpage. Jack Canfield, a motivational speaker, sells the Success Affirmations book on his website.

6. Make Money with Website Flipping

Flipping is about purchasing a product, revamping it and selling it for a profit. Similarly, website flipping is buying an existing, inactive website, improving its overall features, optimizing it for various search engines, and attracting traffic.

You have to look after the website in a similar way you care for building your online business. Once your website achieves a considerable amount of traffic, you can sell it at a much higher rate than your original buying price.

People having basic writing and optimizing skills can quickly flip a website. However, you do have to take care of certain things before and after buying a website:

  • Find websites that you are familiar with
  • Look for a memorable domain. It’s much better if it possesses highly searched keywords
  • Next, select a platform to host your website
  • Prepare your website with all the templates and inbuilt plug-ins it needs
  • Then, focus on publishing unique, quality content consistently that attracts traffic 
  • Optimize your website with keywords and search engine requirements
  • Lastly, promote content on social media sites to enhance traffic

As soon as your site is ready to sell, you could exhibit it at different auction platforms or find buyers online. Once you and the buyer agree on the cost and terms, you have to transfer the domain under the buyer’s name, and after that, they will take charge of your website. Repeat the steps above to continue website flipping and earn money.

7. Turn Your Expertise into Virtual Coaching

If you have mastered a specific skill or possess expert knowledge in your industry, you can offer one-on-one online coaching sessions or charge for online group classes. It’s a great way to spread your experience, help the community, and generate recurring income.

One of the significant advantages of virtual coaching is that you don’t need a huge audience to secure a healthy income stream. That’s because customers pay more for customized, one-on-one programs.

For example, Nagina Abdullah helps women lose weight. She claimed to earn approximately $20,000 from one-on-one coaching. That is also with less than 5000 subscribers.

Now, when it comes to online coaching, you have a choice to go for simple and private Skype coaching sessions. Or conduct online retreats to meet large groups in person. 

Let’s say you are a yoga expert and you want to create an additional income stream from online yoga classes. You can offer one-on-one yoga training personalized to each individual’s needs. Or you can also announce online retreats for a group.

For example, Adriene Mishler, an international yoga teacher, hosts live, virtual sessions on Yoga, meditation, and other self-care topics. Her recent online session was about “Anchored in Love.”

If you are following a welfare purpose, you can also add donation buttons enabling people to contribute to the common cause.

8. Become a Well-Paid Freelancer 

Another way to monetize your website is to show it as a portfolio promoting your knowledge, skills, and experience. Freelancers often rely on various platforms to offer their services, but according to Hubstaff’s 2017 studies, on average, freelancers having websites charge 65% more than others without websites.

For example, ToyFight offers creative services like research, strategy, branding, illustration, UX, and Development. Their website perfectly portrays who they are and what they do. Most importantly, their website covers their work experience and past projects.

Other freelance ideas include becoming a copywriter, proofreader, digital marketer, social media marketer, SEO expert, web developer, translator, SEO expert, etc.

9. Offer a Problem-Solving App 

Since we are gradually relying more on our smartphones and other handy devices in our daily working lives, social lives, and even when we’re alone, it has become common to rely on apps to finish our everyday tasks. And it is in the glory of day-to-day personal or professional problems that make the app industry truly shine.

So if you think that you can solve a problem for your customers, the opportunity is right there. Develop a problem-solving app and monetize it.

In the past, small businesses have been sceptical about developing a professional mobile app. High costs of hiring experienced developers and maintaining an app for a lifetime have added to this weariness.

However, app development costs have dropped significantly, and one can create them with extra ease. With today’s no-code solutions, everybody can build SaaS apps without the need to write code. The app-building and launching of apps have become a piece of cake with the help of drag and drop features.

Now that we have removed every barrier to creating apps, here are some popular ways to monetize them.

  • Offer in-app purchases 
  • Enable subscription service providing a different experience to paid users than the free ones
  • Run in-app ads. Make sure the ads align well with your products or services
  • Connect with sponsors, brands, and trusted partners that may want your mobile app to connect with their target audiences

10. Publish Sponsored Posts and Product Reviews

One way to make money by blogging on your website is to negotiate sponsorship deals with other businesses.

You can charge companies for:

  • Publishing a blog relevant to the company with a link to their website
  • Review your sponsor’s products or services in your article
  • If you have an email list, you can include sponsor’s content in your newsletter for better exposure
  • Bonus promotions on social media bring an added advantage

BuzzFeed sponsored content shows how brands are using relevant sponsored posts to raise awareness and build trust. Hot Wheels, a children’s toy company, sponsored a post on BuzzFeed regarding children’s playtime.

As you see, BuzzFeed created an opportunity by following its own content style, then paired it with a brand having topic authority.

11. Advanced Ways to Monetize with Google Adsense 

Google AdSense is one of the most common and easiest ways to earn some cash as it requires minimal setup. You can quickly place ads on your blog or website. For newbies, it is called a PPC (pay per click) – an online advertising model where website owners make passive income whenever a visitor clicks on banner ads. 

Selling ad space is another advertising model where you earn money by offering free space on your website to promote other brands’ products or services. These ads take the form of links and appear at the bottom of your website pages, as sidebars or tiny pop-ups.

Here is the example of an art and design blog, We and the Color, who display ads at the top and side of its homepage, giving readers something to explore more than what meets their interests.

As the method follows the pay-per-click or pay-per-visitor model, advertisers will pay you based on the number of visitors clicking the ad.

The selling ad space method is a bit time consuming, but it amplifies revenue when a website grows. However, to get the most out of this method, you need to generate more website traffic and have a high conversion rate. 

So here’s how you let advertisers or brands know that you sell ad space:

  1. Prepare a media kit consisting of the statistics and facts (like page views, clicks, etc., of your website) 
  2. Send the media kit to potential buyers. Tell them why your website is a good fit for their products or services.
  3. Once you land a few deals, use Google Ad manager to organize your advertisers.

You can also use Google Analytics to see your website’s information (page views, etc).

12. Offer Value with WordPress Plugins

If you are a WordPress user or have ever been, you will be aware that you can’t run a WordPress website without installing a few plugins.

Right? 

These plugins insert extra features to streamline the WordPress blogging process. They work as problem solvers for website owners. 

One of the worth-mentioning examples here is the Elementor page builder. This mega page building plugin aims at making it easy for you to create custom page layouts and is used by 4+ million WordPress sites. Additionally, the plugin developer monetized it by launching a premium version called Elementor Pro containing advanced features.

If you have a solution to a problem and can convert it into a plugin that your audience is looking for, nothing can stop you from making money out of it. Just make sure to develop plugins based on the specific needs of your targeted audience.

13. Sell Through Influencers

Whether you are selling digital or physical products, you need influencer marketing to increase your sales.

Of course, PPC and social media marketing drive clicks. However, the click doesn’t necessarily convert. An Influencer marketing strategy, on the other hand, follows a different approach than direct selling. Influencers leverage their influence among their followers to generate product interest which ultimately leads to conversions.

You can leverage influencers or use influencer marketing in a number of ways. For example:

  • Start an affiliate program and increase your physical or digital products’ sales
  • Send influencers your products for free to try, promote, or give a testimonial
  • Invite influencers to join your webinars during a launch
  • Publish guest posts on an influencer’s website or blog
  • Show up as a guest on influencers podcasts or interviews

Following the above steps will get you more referrals, which turns into MORE SALES!

Plus, there are many influencer marketing platforms to choose from which can help you track campaigns, and measure results.

To Conclude

You can start earning money with one method only. But applying a couple of methods will help you create multiple income streams. It’s important to monitor which methods work best to maximize your website monetization.

And guess what?

You don’t need to work on each tactic exclusively. They all are correlated. Suppose you create a website to promote and sell affiliate products. Slowly, as the traffic grows, you can start personal coaching on your expertise to level up your income. Next, pack your coaching solutions into an online course and invite your audience to join. In the midst of it all, create a digital product like an ebook and sell them on your website.

Keep trying a mix of different approaches. Double down on what’s working. Eliminate what’s not. Continue the process to keep the money flowing to your website. At last, don’t forget to tell us what worked for you the best.

 

About the Author

Eduard Klein is an International Digital Growth Marketer, Blogger, and Entrepreneur with a global mindset. He guides people through the process of starting and growing a digital business, and to ride the wave of digital technology and marketing without getting swept away. 

How to Merge Instagram Accounts

How to Merge Instagram Accounts

Managing one social media account is a lot of work. In many cases, managing two or more (when you don’t need both) can be a nightmare.

That’s why if you have many accounts on the same platform, it’s best to merge them.

Thankfully, platforms like Facebook make this easy as long as you’re the admin of both accounts you want to merge and the two accounts have similar audience demographics.

Can you merge Instagram accounts, though?

The simple answer is no, not at the present moment.

However, there are ways in which you can merge Instagram accounts. We’ll be looking at them in a moment.

Why Should You Merge Your Instagram Accounts?

Before we get into how you can merge your Instagram accounts, you need to determine why you want to merge your accounts.

What do you want to accomplish by merging your accounts?

Are you merging business and personal accounts?

Do you have multiple business pages and are struggling to maintain them?

Instagram marketing is a powerful tool for achieving your business goals. If you’re running two or more Instagram accounts, it’s a good idea to merge them. Here’s why.

Consolidate Your Content

One primary reason many businesses choose to merge Instagram accounts is to consolidate their content.

For example, if you have multiple accounts for different locations, you may want to consolidate your content to make it easier to manage your account.

Provide a Better User Experience for Your Followers

Another good reason for merging your Instagram accounts is it helps you give your followers a positive user experience (UX).

This is because they won’t have to hop from one account to another to get the most out of your content. A better UX will also help you build a stronger following.

Create a Stronger Brand

Bringing all your assets under one roof, whether merging a business and personal account or two (or more) business accounts, is a great way to create a stronger brand.

Humanize Your Brand

It’s easier for people to follow a personality than a brand.

Merging your personal and business Instagram accounts humanizes your brand and empowers you to connect better with your audience.

Adds Variety

Another excellent reason to merge your Instagram accounts is that it helps you add variety to your account. It helps add diversity in terms of content, audience, and even monetization methods.

Merging Instagram accounts is a great way to keep your followers engaged, too. That’s because it allows you to post different kinds of content, thereby spicing up your feed. Apart from that, it also helps you streamline your marketing efforts, resulting in your generating more leads and revenue.

Now, how do you merge Instagram accounts?

How to Manage Two Instagram Accounts When a Business Consolidation Occurs

Business consolidation occurs when two organizations merge into a single business operation.

When this happens, you will have to handle the Instagram accounts of both businesses. To make sure the process goes as smoothly as possible, keep your followers posted on the changes.

People don’t like change—especially when it happens fast.

That’s why you must always keep them in the loop concerning your consolidation. From both Instagram accounts, create posts explaining to your audience what the consolidation means and how it will benefit them. Make sure to tag the other account when you post.

Once your followers are notified, you can continue with the merge.

Merging Your Instagram Accounts

It’s advisable to merge Instagram accounts when a business consolidation occurs. Remember, Instagram doesn’t allow the merging of two or more accounts. However, there are ways to circumvent this. Here are a couple of ways to go about it:

Create a New Account

One way to merge your two accounts is to create a new account and manually transfer the content from the other accounts to the new account. You can make this process easier by using a third-party tool to repost your content.

This lengthy and tedious process also has the downside of losing all the likes and comments on your posts. However, it’s one of the best ways to ensure that all your content from your other accounts is in one place.

When creating an account to merge your other Instagram accounts, it’s advisable to set the live accounts to private. Doing so helps avoid any new engagement while you’re moving your content.

Move Your Followers

There’s no way to move your followers to your new account automatically. The only way then is to create a post notifying your followers of your new account and asking them to follow.

Make it easy for them to do so by tagging your new account in your posts. You can also edit your bios to redirect your followers to your new account.

Delete Defunct Accounts

Once all content has been moved to the account, and you’re sure most followers have come on board, you should delete the old accounts.

While this may sound counterintuitive, it’s necessary to prevent people from following and engaging with the defunct accounts. These are precious interactions that would better serve you on your new account.

Creating a new Instagram account for two businesses that have consolidated is the best viable option for merging your Instagram accounts. It may take a lot of work to move your followers and establish a strong brand presence, but the hard work will pay off in the long run.

How to Manage Your Instagram Accounts When a Business Acquisition Occurs

Taking over another business means taking over all their assets—including their social media accounts.

When an acquisition takes place, how do you manage the Instagram accounts of both brands?

The first thing to determine is whether the acquisition brings all business operations under one umbrella or whether the acquired company will maintain its brand image.

If the latter is the case, you’ll have to run the two social media accounts independently.

However, if the company you’ve bought will assume your brand, you must merge Instagram accounts. The easiest way to do this is move the followers from the business you’ve acquired to your main Instagram account.

To do that, alert your followers of the change and encourage them to follow your main Instagram. You will have to post several times and give your followers time to make the move.

How to Manage Your Instagram Accounts When You Change Your Business Name

If you’ve changed your business name, it goes without saying you’ll also have to change your social media profiles.

Thankfully, Instagram makes it very easy to do this. However, despite it being easy to change your business name on Instagram, there are a couple of considerations you must make:

Instagram Name or Username—Which One Are You Changing?

When you change your business name, you have two options to change your identity on Instagram.

When you merge Instagram accounts, you may need to change your Instagram name or username.

You can either change your Instagram name or your username.

  • Instagram name: This is the name displayed on your profile and under your posts.
  • Username: Your username defines your account and is the one preceded by “@.” It also determines your URL.

You can easily change your Instagram name without any impact on the backend of your account. However, changing your username has a huge impact on what happens on your backend. That brings us to the next point.

Your URL Will Change and Engagement May Drop

Your username is part of your Instagram URL. Changing it means altering your URL.

When you merge Instagram accounts and change your username, it changes your URL.

Once that happens, it may take a few weeks for search engines to index your new URL. As a result, the traffic and engagement you get from other places you’ve linked your Instagram account to will be affected. This includes other posts your account has been tagged in.

3 Quick Tips to Manage Your Instagram Account Name Change

Most people complain of losing followers and engagement when they change their business name. Here are a few tips to help you make the transitions smoothly.

1. Alert Your Followers of the Name Change

Before you change your business name, make sure to let your followers know that you’re rebranding. Doing so will let your followers know you’re still active, even if at times, they may not find your account when they search for it.

2. Change Your Handle On All Other Platforms

Changing your business name affects all your other social media platforms. So make sure to change your handle on all of them.

3. Edit Links to Your Account

Remember, your username affects your URL. Once you change it, your old URL becomes useless.

That’s why you must visit all blogs and other platforms you’ve posted your URL on and edit them with the new URL. Sure, this may be a lot of work, but it must be done if you’re to reduce the negative impact of the name change.

Changing your business name on Instagram can have some negative ramifications. Make sure you only do it when it’s absolutely necessary.

How to Manage Your Instagram Accounts if Your Business Has Multiple Accounts for Different Departments

If your business has multiple Instagram accounts for each department, juggling them can be quite a daunting task. In many cases, the hard work will be worth it as having multiple accounts will help you:

  • Customize your messaging for each of your target audiences.
  • Cater to the preferences of audiences in different geographic locations.

One of the easiest ways to manage multiple accounts is by switching between accounts. To do this, you must add the other accounts you want to manage on your Instagram app. On mobile, you can do this by:

  • Going to settings.
  • Under the “Login” section, click on “Add Account.”
  • Enter the login details of the account you want to add and log in.

You can then easily switch between accounts by clicking on the profile icon.

Another way to manage multiple accounts is by setting up Multi-Account Log In. To do this:

  • Go to settings.
  • Select “Multi-Account Log In.”
  • Choose the account you want to use to access the other accounts.

Anyone with access to the account you have chosen to use as the administrator account will have access to all other accounts.

Once you’ve set up your accounts this way, it becomes easier to manage multiple accounts without having to log in and out.

How do you manage multiple Instagram accounts on a desktop?

To manage multiple Instagram accounts on desktop, you’ll have to use Facebook’s free dashboard dubbed Creator Studio.

Connecting your Instagram accounts to Creator Studio is super easy:

  • Switch to a business profile.
  • Click on the Instagram icon in Creator Studio.
  • Sign in to Instagram from Creator Studio.

With Creator Studio, you can post and schedule content to multiple accounts. You also get access to Instagram Insights, the native Instagram analytics tool.

Leverage a Social Media Management Tool

Managing multiple Instagram accounts from the platform itself can be laborious and time-consuming. An easier way to do it is to use a third-party tool that allows you to manage all your accounts from a single dashboard. Examples of such tools include:

  • Hootsuite
  • CoSchedule
  • Sprout Social
  • Buffer

Using a social media management tool will give you a bird’s-eye view of what’s happening across all your accounts from a single dashboard. It also has the advantage of assigning tasks to teammates, making collaboration much easier.

Managing multiple Instagram accounts for different departments may seem like a daunting task. However, with Instagram’s account switching function or the use of a third-party tool, it becomes easy.

Conclusion

Instagram is one of the best social media platforms for growing your business.

With over 1.2 billion active monthly users and as the fourth-most popular social networking site, you can’t afford to ignore it. It’s undoubtedly one network you must include in your social media marketing strategy.

That’s also why you must tread carefully when merging Instagram accounts. Executed well, the worst that could happen is losing a few followers. However, if you don’t do it well, you may end up having to start building your brand on Instagram from scratch.

What’s your experience with merging Instagram accounts?

5 Steps for Using Paid Internet Advertising to Drive Conversions

5 Things You Must Do Before Jumping Into Paid Internet Advertising

Paid advertising is a great way to guide more traffic to your site and increase business, but it can become expensive quickly — especially if you aren’t careful. How do you make sure you are getting the most out of your paid ads?

A few weeks ago, I was talking to a business owner in my community. They recently started an aggressive Google AdWords campaign that was working, sort of. They getting tons of new leads, but the leads were for services they didn’t offer! The problem was their campain was way too broad, and they were paying tons of cash for useless leads.

Don’t let that happen to you. Here are five simple things you can do to make sure you are getting the most for your paid ad dollars.

1. Understand (and Use) Long Tail Keywords

Longtail keywords are keywords that are several words long. Rather than targeting “plumber,” you might target “emergency plumber near me” or “plumber to unblock a drain.” These are critical because they are more likely to match the words searchers use and they also indicate the searcher is ready to hire or buy.

Ubersuggest is a great resource for discovering keywords in your industry.

When using Ubersuggest, remember that you aren’t necessarily looking for the highest-traffic keywords. You are looking for the words your customers use to look for you.

Be on the lookout for long-tail keywords that are longer, more specific keywords that make up the majority of search-driven traffic.

Here’s a simple system you can use:

Step #1: Enter Your Head Keyword and Click “Search”

paid internet advertising tool ubersuggest

Step #2: Click “Keyword Ideas” in the Left Sidebar

paid internet advertising tool ubersuggest 2

Step #3: Analyze the Results

paid internet advertising tool ubersuggest keyword ideas

In the example above, the term “social media marketing” is considered a “head” keyword, which means it is searched for very frequently. The much less popular term “social media marketing strategy” receives fewer searches, but indicates the searcher is looking for something more specfic.

You might go even further and try something like “the best social media marketing strategy.”

To find even more keywords, click the “Related” tab next to “Suggestions.”

For this particular keyword, doing so gives you nearly 16,000 more keywords, the majority of which are long-tail. For example, here’s what you see as you scroll down the results:

paid internet advertising tool ubersuggest keyword ideas

Once you find a long-tail keyword that piques your interest, click on it for a better idea of your competitors, both for paid ads and organic search.

paid internet advertising tool ubersuggest kewyord overview

The big mistake that many first-time marketers make with SEO or pay-per-click advertising is choosing the wrong keywords.

When you purchase head keywords like “social media marketing,” you will spend significantly more money and reduce your ROI dramatically.

The key that you have to remember is you get a lot more bang for your buck by targeting a large number of lower-traffic terms than by targeting a small number of higher-traffic terms.

Finally, the best source of keywords can come from your own website. Consider using a survey tool like Qualaroo to find out what your customers are looking for or why they decided to do business with you (after checkout for example). The language they use can be very effective ad copy for internet advertisements.

2. Understand the Different Types of Paid Ads

There are a lot of places to buy ads and each platform has its own strengths and weaknesses. Before getting started, you should understand the major types of paid advertising as well as their pros and cons.

paid internet advertising examples

Display Ads or Banner Ads

Banner ads immediately come to mind when we think about online advertising because they stand out. They are very common and come in a variety of sizes. These ads can be effective, but they tend to target customers who are not actively looking for something new.

For example, a person may be reading a newspaper article and not be interested in a new social media course. Display ads can be successful, but they need to be used properly. Display ads can be purchased using a pay-per-click model or they simply can be displayed for a certain length of time.

different type of internet ads display ad example

Text ads are the type you usually see on the primary Google search page. These ads generally are less expensive than display ads and target customers that actually are looking for something specific. They can be very effective but depend heavily on good keyword research and A/B testing (a topic we will discuss later in this post).

Here are a few of the places you should try listing your ads, though there certainly are many others:

Google Ads

Google Ads (previously Google AdWords) are an obvious choice for many businesses. They offer display and text ads in association with highly targeted keywords. AdWords are a clear choice for any campaign.

Bonus Tip: Your Google Adwords ads will produce a better return on investment the longer you use Adwords. Google rewards long-term customers with better “quality scores”.

Bing or Yahoo

Bing and Yahoo both offer alternative ad platforms that work similarly to Google’s. They combine display and text ads with targeted search terms. Some brands find that, while these options bring less traffic, the overall ROI is a bit better.

Social Media Ads

Social media advertising has grown enormously in popularity over the last few years. These ads combine text and display elements and are targeted based on user preferences, demographics, and location. Depending on your business type, Facebook, LinkedIn, Instagram, and TikTok are valid options to consider.

BuySellAds or Direct Buy

BuySellAds.com is a great place to go to find additional display ad opportunities. These usually allow you to “rent” space on a site or a blog for a fixed cost. Additional opportunities like this can exist if you contact some of your favorite bloggers directly.

Can’t decide between Facebook or Google (two popular options)? Then check out this video for some guidance:

Start by trying several of these options and use hard data to make final decisions about where you want to put your money. Rely on hard data, not guesses, to understand what platforms provide the best return.

3. Track Your Paid Ad Results

If you aren’t able to see how each of your ads is performing, then you shouldn’t be buying paid advertising at all. The beautiful thing about online advertising is that you get the opportunity to track everything. Google Analytics is an absolute must when it comes to online ad buying. This analytics package is free and easy to install.

Once you have it set up, you should become very familiar with Google Analytics Custom Campaigns. These options allow you to create a customized URL for each ad that will help you see overall performance for all of your advertising. Using Google Analytics in this way will give you a single dashboard for comparing all of your advertising campaigns.

4. Create a Landing Page

It is important to send incoming visitors to a unique page (called a landing page) on your website, rather than your homepage. This may seem counter-intuitive, but there are three very good reasons for using this strategy:

  1. Landing pages allow you to customize your message for incoming visitors. This means that you can continue the message you started with your ads, which creates a more cohesive experience.
  2. Custom landing pages allow you to push visitors toward specific actions, such as downloading a free ebook. (Displaying traditional navigation may distract your visitors.)
  3. Landing pages make tracking your visits very easy. This is especially important.

When you combine this strategy with easy funnel-tracking tools, you quickly can gain a lot of information about how to reach and sell to your new visitors.

In some cases, you can create a single landing page for an entire ad campaign. In other cases, you may want to create a specific landing page for each keyword that you purchase.

landing page example paid internet advertising

This landing page helps us track who comes to the page and exactly how effective our ads are.

It is important to remember to block your custom landing pages from search engines. This can be done with a simple edit to your “robots.txt” file. This is an important step that will make your ad tracking more reliable. If you allow Google and Bing to send non-paid visitors to your page, you may get a false sense of how your page is performing.

Here are two more tips to create high-converting landing pages.

Create a Call to Action

Once you have a visitor on your landing page, how do you convert them into a lead or a customer? Every page you send them to should have a clear call to action. Think about this one carefully, because it’s the difference between a sale and wasted money.

I like to decide what the “number one” desired outcome for each page is before I design a landing page. Simply ask yourself, “What do I want them to do the most?” Then create the page accordingly.

a good call to action example paid advertising guide

A good call to action will tell your visitors exactly what you want them to do.

Everything on your page should push your visitors toward the action you want them to take. Without considering this, you’re throwing money away.

Use A/B Testing

You may have launched your page, but you aren’t done yet. Small tweaks and adjustments can make a huge difference in your overall conversion rate. If you’ve followed the tips above, you should have the proper landing page and conversion tracking to make this task very easy.

A/B testing is being scientific about testing which methods work best. When you go about A/B testing, it is important that you make only a single, testable, change each time. For example, you could test the effectiveness of your page’s headline or button placement, but not both at the same time.

By testing a single change, you will be able to see conclusive results about what works best. A/B testing is an ongoing process, too, so don’t stop. Keep testing and modifying your page. You might be surprised at what it does to your overall conversion rate.

5. Review Your Paid Ad Results Regularly

Whatever you do, don’t look at your results every day. This practice can lead to hasty changes based on incomplete data. It is best to wait so that your analytics have time to accumulate accurate trends and information. Then determine a set time period for reviewing your statistics and making changes. It might be monthly, it might be weekly. Checking monthly is a good plan for picking up broad shifts.

Consider setting up spreadsheets to track your statistics. It’s easier to pick up on trends and understand what you’re seeing when you dig into your analytics to pull out the numbers for your spreadsheet.

tracking metrics for paid internet advertising

Use simple spreadsheets to track your incoming ad traffic.

Be prepared to kill keywords that are under-performing. Remember, conversion rates are your most important statistics, not clicks. Clicks just waste money if they aren’t driving leads or sales.

In paid advertising, the longer you run your ads, the better your rates and quality score will become. This will be true particularly if you rely heavily on good A/B testing and are constantly refining your ad buy.

5 Steps to Getting Started with Paid Ads

Time needed: 6 minutes.

Not sure how to get started with paid ads? Here’s five steps to make sure you don’t waste your investment.

  1. Understand (and Use) Long Tail Keywords

    Long tail keywords are less competitive and mimic the way people search.

  2.  Understand the Different Types of Paid Ads

    Each type of ad has different costs, audiences, and reaches. Understand the difference so you don’t waste ad spend!

  3. Track Your Paid Ad Results

    If you aren’t able to see how each of your ads is performing, then you shouldn’t be buying paid advertising at all. T

  4. Create a Landing Page

    Landing pages help drive conversions and make it easier to track. Don’t forget to add a CTA and use A/B testing.

  5. Review Your Paid Ad Results Regularly

    Check your results weekly or monthly to make sure your ads are driving results, not just clicks.

Conclusion

Paid ads are not a get-rich-quick scheme. Don’t expect to be finished in a week or two. Give your ads time and finesse your plan to get the best results. Cumulative trends and information will give you a clearer picture of which ads actually convert.

Start by setting a small budget, and increase it as you gain confidence. If you need help getting started, feel free to reach out to my team. We can help create an advertising plan that works for your business.

Are you considering adding paid ads to your online advertising strategy? What is holding you back?