When I was a student I didn’t have much money. But once in a blue moon, some friends and I would go for a night out at a Casino.
We didn’t expect to walk out with more money in our pockets than when we went in, but it was a good night, and we enjoyed ourselves.
Broadly speaking, you get two types of people in a Casino:
The people who go to have a good time, who also enjoy the buzz of knowing there’s a small chance they might actually make some money.
And the people who hope or believe that tonight is the night they’re going to strike it big.
We all know that the casino always wins. Right?
The AdWords model, on the other hand, is more subtle than the Casino.
The average AdWords account is wasting a sizeable part of their budget, but they don’t even know it. The account holder is walking out of the Casino smiling happily, not even realising that the money they’re making is leaking out of their pocket with every step they take.
How do I know this?
Because we see a lot of Google AdWords accounts. And I’d estimate that about 1% of them aren’t wasting far more of their budgets than they realise.
Most AdWords accounts we see waste money. Chances are that yours is one of the 99%.