Of all the Deadly Sins, the Sin of Greed is the most fatal. Greed is manifest by out of control bids and runaway content network advertising. AdWords can be a fatal siren beckoning companies toward budgetary destruction.
Relying on PPC
PPC evangelists preach how AdWords can deliver thousands of visitors to your site 7 days a week, 365 days of the year. Greed tempts you to simply spend more and more money to get more and more sales. This philosophy has two major shortcomings:
- Eventually you’ll run out of traffic to buy (yes Google does have its limits) or run into a competitor with deeper pockets.
- Money spent on PPC clicks is immediately lost after the click. You get no residual value for your money, which means that you have to spend continuously to stay in business.
A Balanced Approach
Imagine in your mind a seesaw. On one end you have your PPC traffic and on the other end you have SEO traffic. At first, your PPC traffic will be really high and your SEO traffic really low. However, the goal is to tip the seesaw so that your SEO traffic becomes very high in relation to your PPC traffic. How much this will affect your PPC budget is up to you, but for an online business to reach a long-term, sustainable trajectory this shift needs to happen.
In summary, the Sin of Greed is derived from the attitude that AdWords can fix everything; a silver bullet. While AdWords can make you very profitable right now, is you succumb to Greed you will be sorry. Repent now or perish!