The search engine marketing industry is built to function like a macro economy. What do i mean?
- Search results are resources.
- Websites are companies.
- Users are people.
- Supply and demand are in effect.
- Google is a government agency and is working to improve market results through the use of policies (algorithm updates).
Let me break this idea down to show you why it is important to think so when executing a search engine marketing strategy.
Basics of Macroeconomics
Macroeconomics is an elegant way of describing a “large-scale economic system” in which societies or governments organize and distribute available resources, services and goods in a geographical region or country.
The macroeconomy focuses heavily on income and the increase in national production. It covers government economic policies, the working economy and attempts to understand the behavior of the population.
According to InvestopediaThe law of supply and demand tries to explain the relationship between sellers and buyers of resources.
Principles of economics
Gregory Mankiw, a well-known Harvard economist, outlined a breakdown of his understanding of macroeconomics in the so-called Principles of economics.
These principles show how people make decisions and interact with each other and which trends in macroeconomics affect the economy. According to Wikiversity, these include:
Not all of these principles are used in the article to maintain simplicity but complex understanding.
Why should you care?
Each of these principles can be applied to the search marketing strategy. However, you need to break them down to understand the big picture and apply them to your tactics.
Opportunity costs are the best place to start because you have to make decisions and develop strategies based on them in marketing Data;; However, there is always a cost to move the strategy in one direction over the other.
In search engine optimization, for example, you weigh the advantages of performing technical SEO audits and executing the recommendations contained in these audits, or carry out a content check and execute a strategy.
There are two “costs” associated with each method.
The technical cost is related to the time it takes to review the website, provide the audit recommendations, and implement those recommendations with the help of a developer or a marketing team.
The cost of content is related to the time it takes to review competitors, do keyword research, create content information, write and edit content, broadcast the content live on the website, and conduct Meta-optimizations were spent on the page.
These methods can only be carried out by one person. However, the process may take longer.
Rational people think on the side
Economists think people are rational. As search engine marketers, we have to assume that users on the Internet are also rational.
In addition, potential customers who are marginalized are considering how satisfied they will be with the next step. In marketing, this next step for visitors could be to click buy and spend money on your products and services. What are you doing that makes them do something?
Below is how this Matcha powder is “conveniently delivered to your business” and can help customers take action as they don’t want to go to business and take time out for work or family. This strategy shows compassion for people’s time.
Understanding the basics of this macroeconomic thinking gives you the perspective that every interaction with a potential customer has an impact.
Users will only take the step you’re looking for in the marketing and sales funnel if you give them a reason to do so. Make them feel like they’re making a mistake by not clicking your button.
Why? This tactic can make a significant contribution to how you optimize your websites, which leads to an increased number of leads or total sales generated. Hello, growth.
People are driven by incentives
There is a similar driver for this economic principle as before. People need to feel that their next step is worth their time and money.
For example, if you send your email to a company’s newsletter, you may receive a 15% discount on the next purchase on the website. This financial incentive will draw the user’s attention and may cause them to send their email to the list.
In addition, adding an emotion-controlled copy to a training device purchase landing page can cause a user to purchase the device because the benefits of using the device outweigh the costs.
This CRO mindset can help you test different landing page configurations to get the right conversions. Beware of becoming complacent. Your words have power; Show your audience how you will make their lives easier.
Trade is mutually beneficial
Different marketing tactics come up with the breakdown of “trade” in the marketing world: Content syndication and Guest post.
Content syndication is the process of a website republishing content on a third-party website to increase the reach of the content for a larger audience.
This can be mutually beneficial: the larger publication may receive payments and free content for its website, while the smaller publication receives coverage that it would not receive from its current audience and reach.
According to ClearVoice, the performance of Content syndication is able to combine a network of millions of users who follow every syndicated platform and contributor. If you go outside of your own following, you can share your content with a new group of people with whom you may not have interacted before.
The costs associated with content syndication depend on the website, but are often based on the cost per lead (CPL) or the cost per click (CPC). Obviously, these metrics are very different in size depending on the size of the audience you are reaching.
Similar, Guest post Refers to writing content for another website with the agreement to give the website free content in return for publication and free backlinks with keyword-oriented anchor text back to your selected website.
Guest posts can be useful for marketing directors, as they can increase your personal audience, but also increase the audience of your company’s brand. If you look at some of the greatest marketing influencers in the world (for example GaryVee), they have a much more religious following than VaynerMedia or VaynerX.
While guest posts take time to connect, nurture, reach, write, and edit, it is worth your time. Once you’re a world-class marketer, people will turn to you for opportunities for guest posts.
Pro tip: The content that works best is the content that the audience of the publication is targeting. For example, if you write a guest blog for an HR publication, the use of examples of problems and problems in the HR department will find more resonance and increase your chances of publication.
Creating mutually beneficial relationships or partnerships in marketing is a key factor for growth in 2020.
Markets organize economic activity
According to the economic principles set out by Mankiw, the market is shaped by the decisions of millions of market participants who are considered to be guided by the invisible hand.
In search engine marketing, there are various inputs that users regard as market participants: content creators, SEOs, PPC specialists, local companies, video marketers and Internet users. The cumulative decisions of these participants guide the search market.
However, the market is not necessarily perfectly managed or is continuously improving. State intervention takes place here.
Government attempt to improve market results
In the real market, the government is changing policies that try to improve results by analyzing market characteristics and adopting new policies that improve the market.
In the case of search engine marketing, Google is the government and the economic policies enacted are Google algorithms. Google is constantly updating its algorithm to improve a searcher’s user experience, which directly and indirectly increases the bottom line.
Regardless of whether these algorithm changes are selfish or just to improve user interaction, these policy changes are made to improve the overall performance of Google.
For example, Google recently introduced changes to its algorithm that reduced the relevance range for local search results. Certain locations for local businesses became less visible with increasing radius from a user’s location.
One example where Google made an algorithm change that had a positive impact on the bottom line was to increase the number of paid results at the top of the SERP (search engine results page).
This has not necessarily improved the user experience and frustrated many SEOs as organic rankings have dropped. However, this improved the market and the bottom line.
The country’s standard of living depends on the country’s production
A powerful economy is usually the result of its ability to produce and sell high quality goods and services and to return large amounts of money to the economy.
When it comes to searching, Google can only be a powerful economy if the content that is included in its index is worth the time and attention of readers.
For this comparison, we will treat each website on the Internet as its own functioning country. The standard of living in this country is its overall performance on Google (regardless of whether it represents many keywords or not and generates traffic).
Because a country’s standard of living depends on its ability to produce goods and services, any website can only perform well if it always provides first-class content. This consistent content flow generates traffic, awareness and ultimate success at Google and leads to business growth.
Let’s get technical
One of the most important applications of search efficiency is the concept of the “crawling budget”. According to BacklinkoThe crawl budget is the number of pages that Google crawls and indexes for a website within a certain period of time.
The crawl budget is determined by the crawl rate limit and the crawling requirement. The crawl rate limit reduces the number of times Google crawls your pages where they are has a negative impact on your server. The crawl demand is based on Google’s urge to crawl your web pages and fluctuates depending on the popularity and content quality of your pages in the Google index. The crawl budget takes into account crawl rate and crawl demand, and determines the number of pages that Google Bots wants to review and index.
The “need” must be defined by their algorithm, which focuses on supply and demand.
How to increase the crawl budget
To increase your website’s crawl budget, increase the amount of great content and follow Google’s Quality guidelines. In addition, meet the requirements of the market – answer the questions of your target group. Research; What do you want to consume?
By consistently creating engaging content (this can be more than just articles – think of podcasts, videos, webinars, etc.), you increase the number of pages that Google crawls on your website and increase the crawl rate limit .
Another way to increase a website’s crawl budget is to create signals that increase Google Bots’ demand to crawl and index your web pages. Different SEO tactics can generate signals that indicate increasing demand for your website. But let’s highlight the link building.
Continuous authoritative links pointing to your pages tell Google that your content is relevant and important. This should have a positive effect on your crawling budget.
Such a complex concept in macroeconomics can be limited to the simple SEO tactics we learn when entering the industry, and they can greatly affect your search success. Don’t forget your basics.
Team economy and search engine marketing strategy
When developing a search marketing strategy, you can achieve or break your goals if you understand how search engines work, how user behavior is applied, and how user behavior affects search engine changes.
Since 2009, search advertising spend worldwide has increased from $ 26.7 billion to $ 135.9 billion without a lack of continuous growth (about Statista). In addition, 70-80% of search engine users only focus on organic results.
The search engine marketing industry is growing continuously and is in an upward trend, similar to a dominant macroeconomy. If you understand the power of these statistics and how the basic principles of profitability influence the decisions of companies around the world, you can take a step up in your search engine marketing efforts.
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