Budgeting for your marketing campaign is important because it helps you understand the marketing channels to have the least or more allocation.
Your PPC budget should be clear to make good use of your resources. The following are the best PPC budgeting practices:
Getting Started
If you’re unfamiliar with the marketing channel, setting the budget for your PPC campaign can be a tough task.
The good thing is, there are plenty of tools to help you find the right amount such as the free estimator for AdWords. However, this tool is not 100% accurate but it will provide you with a decent estimate of how much you need to allocate to the PPC campaign and the number of conversions obtained.
If your cost per click is low and profitable, then you should allocate a good budget for your campaign. If the cost per click is high with low conversions cut the amount for the campaign and carry tests to check whether things will get better.
Base Your Budget on Profitability
If other advertising campaigns are more profitable than PPC then you should turn your attention to them.
Spend on Profitability
Do not cap your spending on profitable campaigns. Keep tracking your campaign results for most returns and to name the ones that should be prioritized for higher profits but with less spending.
Optimize Unprofitable Campaigns Instead of Slashing Its Budgets
Check your campaign to know why it has become weak and then optimize for greater profits. Enhance your campaign before you settle on slashing the budget.
Only limit the budget when you’re trying to find out the problems of your unsuccessful campaigns.
Understand Business Swings
Allocate bigger budgets on the favorable months and tighten on the weaker months. This avoids excess spending.
Create a Campaign Structure Based on Budgetary Controls
Allow Google AdWords to control your budget spreading. This ensures that your resources are allotted appropriately.
Standard Ad Delivery vs. Test Accelerated
You need to test to find the best for your business. In Accelerated Delivery, your ads are shown immediately to the targeted audiences. However, Standard Ad Delivery reserves the ads and then spread out throughout the day.
You need to carry out research to find the ad campaign that brings in more visitors to your website.
Create Multiple Campaigns
If you have a big budget, it would be a great idea to break it down into smaller campaigns that are easy to control. This will help you reap better results from your campaign.
Identify Your Opportunities by Leveraging Impression Share Data
Determine your campaign’s impression data to know the campaigns that lose impressions due to improper budget allocations. Once you find the campaigns that perform better, allocate more funds to them for improved results.
Google AdWords is one of the best in PPC campaigns but you are free to experiment with other networks to find the one that works best for you.
Once you pick your PPC network, allocate a budget and check whether it’s profitable or not. Once you establish profitability, allocate a bigger budget and time to the PPC campaign.