Although PPC budgeting might not be the most exciting thing since sliced bread. Being good at managing your budget can have a major impact on your PPC performance.
It doesn’t have to take up too much of your time, even a quick check in at the beginning of each month or quarter can go a long way in making sure you are treating your budgets with the care they deserve.
We have put together 4 examples of things you should be doing to take better care of your PPC budgets.
Oooh, forecasting, don’t all rush at once! Forecasting can sometimes feel like just guessing, but hopefully it’s a good educated guess that can help you to make smarter decisions about where you spend your advertising money.
Remember that it isn’t always going to be 100% accurate – you can be dead off sometimes and not the psychic supreme you wish you could be.
The best way is to have a realistic expectation of performance so you can plan ahead. Spend a little time to think ahead and know what’s coming. Utilise the tools you have at your disposal such as Google Trends and Google Ads past performance data.
Be sure to check back in regularly on your focus to see how your performance is comparing and to update with any new events which may have impacted the original plan.
Create Projection Sheets
Forecasting gives you a longer term look at potential performance. However using a projections sheet can help you to understand where you’re likely to be at by the end of each month.
You can project performance by dividing the number of days gone and multiplying by the full amount of days in a month.
Nothing is guaranteed and your month end performance could change based on trends and fluctuations, but it will give you a better outlook on where you’re headed based on what has already happened that month.
Choose The Best Budget Type For Your Account
Getting a bit more down to the nitty gritty of managing campaigns.
It’s important to make sure you’re using the right budget types for your marketing needs.
Google Ads has individual campaign level or shared budgets. Make sure that you’re using the right budgets settings for your own goals.
As your campaigns evolve as time goes on, it’s important to take a step back and ensure you’re setting yourself up for success.
Always tailor it to your marketing goals, don’t just choose the same budget options because it worked last time.
Know What You Can Afford
PPC has a fantastic reputation for showing fast results but success takes time.
There will need to be a period of testing and optimising before your campaign generates profit.
This is why it’s so important to know what you can and can’t afford to spend.
Keep in mind that results aren’t immediate so you will probably be spending more than you’re making for a measure of time.
You need data to optimise too, try not to set budgets too low because if you’re not gaining enough insights to optimise your campaign, it means you are spending with nothing gained.
Time to focus!
If you find that your budget is restricted, do some forecasting and projecting around specific areas of your business offering and prioritise the most likely avenue for success first.
Of course it’s beneficial to test many different paths but if you are dealing with a limited amount of budget available for a new test, try focusing on the areas which are most likely to perform first.
We have every faith in your success!