We've all been there, you think you are spending more than you should, getting OK results, and then it hits you. You feverishly start doing the math in your head. You divide your monthly budget by the days in the month, then by the 24 hours you run your campaign. You just realized that your $3,000 monthly budget is spending around $4 per hour. You know since many of your bids for keywords and phrases are higher than your hourly budget, you are missing out on valuable clicks that are going to the next business that is showing.
Confused? Don't worry, you're not alone.
Pay Per Click Management can be one of the toughest jobs in the Online Advertising world when one just tries to "set it and forget it". It takes skilled professionals hours and hours of setup, tweaking, data-mining and then more hours of tweaking and data-mining. Many executives in businesses that are advertising online tend to treat it as a "fringe advertising expense," meaning that it is not on par as being as important as say traditional advertising like TV, Print and Radio. In some business cases, it may be true and not make sense for that style of business. However, in many cases, potential customers seek out the business' website first, then make a call whether or not they are worthy of their attention.
Raise the monthly budget.
It would seem obvious at this point that if you are not getting traffic due to having a lower "hourly budget" versus the phrases you are going after, then you need to raise it up. Remember, take what you are willing to spend per month, divide it by 30.2 (accounts for 31 days per some months on average), then divide that daily budget by 24 (assuming you are advertising all day). What you are left with is your hourly budget. If it seems too small, then you may want to double, triple or some other multiplication to get it performing for you.