Optimizing ROI on Google Adwords for free fax to email
Free fax To Email Agent need to get the most out of their Google Adwords budget.
Free fax to email relies on regular fax usage to generate a profit.
The profit generated by each fax number could be high, or might be a once off – your long term profile will eventually show you what your average income is per fax number.
To obtain the maximum return for your fax number (your real return), you need a good quality database of active fax numbers, and you may need to remind your users to use their fax numbers more often.
Google offers a great advertising platform called Google Adwords. Adwords has been shown to offer great value to advertisers.
- Sign up as an agent here
- Sign up for google adwords here
- Create your first campaign using keywords such as fax, free fax to email, fax 2 email
- Use creative descriptions, and have a call top action such as “Sign up now for a free fax to email number”
- Create several differently worded adverts , and don’t stick to one advert. People are different and will interact differently to your ads.
- Exaggeration might get you clicks, but will not get you quality signups
- Try different strategies on different days. Don’t be afraid to experiment until you get the highest number of conversions for the lowest cost – something you are happy with.
To determine your success, you will need to keep track of your conversions. Conversions are the number of people who sign up for the service. A true conversion would be a signup from someone who uses the service and generates income for you, but this cannot be tracked through the Google network.
You can get estimate this true conversion value by working with averages.
To get an average, you need to understand how fax numbers work:
- Fax numbers have a limited lifetime and eventfully die after some time (Bounce backs, unused numbers, once off usage, etc)
From our experience, the lifetime of a database with 30,000 numbers which does not attract new number is more than 7 years!
- Fax numbers generate a limited income over its lifetime
- Everything needs to be calculated on trends and averages
Once you have an average income per number, and the average lifetime of a number, then you can give each conversion a value in Rands, you can quantify your conversions and see what they are really worth.
The value of a fax number (in Rands) = Income per fax number per month (in Rands) x lifetime of number (in months)
*NOTE: From past performance, A database with 30,000+ numbers, which does not sign up new numbers, has a lifetime of more than 7 years!
Numbers are not lost in a linear fashion, it usually dies by a percentage of the remaining numbers, which means that numbers are lost slower as time goes by.
The following example is over-simplified for ease of explanation and calculation.
- Your fax database has 1,000 fax numbers
- Each number brings in R10 a month
- The database dies at 50 numbers per month
You can now use an excel sheet to:
- estimate the value of each fax number
- estimate how long your database will generate an income before it dies
- estimate the total profit you make on those 1,000 numbers
In this example, all your numbers would “die” in 20 months’ time. By using an excel sheet, we can calculate that you would have made R105,000 before the database dies.
Month 1 = 1,000 numbers @ R10 = R10,000
Month 2 = 950 numbers @ R10 = R9,500
Month 3 = 900 x R10 = R9000
Month 4… to … 19 @ R10 = R76,000
Month 20 = 50 X R10 = R500
Month 21 = 0
Total over lifetime = R105,000
Each fax number is therefore worth, on average, R105,000 / 1,000 = R105.
Your adwords convention must therefore be less than R105 each.
If you spend R105 for a conversion, you will make no money, and if you spend more, you will lose out.
If your avearge income per fax number is R2 a month, then your income for each number will be R21 over its lifetime!
If you spend R21 or more per conversion, then you are losing money! Even if you add another 100,000 new numbers, your long term profit will still be zero!
Use your brain and not your pride to bid on Adwords! Remember that in the long run, the competitor above you on Google will make less profits than you! This is not a competition for top positions on Google adwords, it is a competition against yourself for maximum profitability!
The figures and income shown in the example may be above or below the average you can expect from a free fax to email service number. Only you can determine your “break-even” point after advertising for a few weeks.
Google display network for Free Fax
The “Google display campaign” is not an ideal platform to advertise free fax services.
The users who click and sign up are not actively looking to use the fax service.
These signups will boost your unused fax numbers, and will do absolutely little to nothing to your minute count and income.
The Google display network also tends to be very difficult to control, and the cost per conversion may be R100’s!
It is very difficult to determine the quality of these conversions since these fax numbers might never get used!