How to Set Your Google Ads Budget?
Unsure about how to set up Google Ads with a limited budget? Initially, in the testing stage, you try different things to see what works for your business and what doesn’t. During this process, you learn about the intricacies and complications of budgeting for Google Ads. You pick and ditch different methods to make it work. Let’s see what experts have to say about it. As Google says, “With Google Ads, you’re in charge of your online advertising costs. Never pay more than your monthly budget cap, and you can stop at any time”. Agree to it and learn a few tips to set up your Google Ads Budget.
What Is Google Ad Campaign Management?First, it all starts with the setting of the Google Ads campaign. Running and managing Google Ads is an intricate task that requires an overall understanding of Google Ad campaign management. From performance evaluation, keyword selection, copy rewriting, a recreation of creative to final testing, it’s a thorough process that requires brainstorming and careful evaluation. Ready to hit the nail? The hardest nut is to set up an ad budget. It’s time to set up Google Ads Budget.
Tips to Set up Google Ads BudgetPreviously known as Google AdWords, the Google ads budget is determined on the basis of per day expenditure for a month on an ad campaign that a business would like to spend. With this, the gross expenditure will never jump out of the assigned one, however, it may fluctuate on daily basis. It’s free to set up a Google ad account. Don’t hesitate and get started. Set up Your Advertising Goals: First thing to start with, you need to set an advertising goal that is achievable. It could be traffic, sales, brand recognition, leads or conversion. Create a roadmap to achieve the goals and follow it step by step. Traffic? Leads? High Click-through rate or Low Cost per click?
What are Your Advertising Goals?Do you know where will it take you? Will it serve the purpose of your online existence? Recognize Your Audience: Your ads may turn into a complete waste if you target the wrong audience. Your audience is the core of your ad campaign and the ad should be strategized to reach the potential audience only. To make your Google add campaigns scalable, it’s primary to reach the right audience with expected services/ products. For instance- one of the best methods to get a potential audience is an In-depth remarketing audience. Believe it or not, but the click-through rate (CTR) for remarketing is apparently higher than other forms of marketing. Detailed remarketing helps you limit your expenditure and surge the conversion rate. Set a standard daily budget for the campaign- Budget is an important part of the campaign. Daily budgeting helps you realize your goals faster and easier. Assign an average amount you would like to spend and you can make modifications to your budget.
Strategies to Set Google Ads BudgetIn order to strategize your Google ads budget, you first need to understand the different types of the budget that you can go on with at a campaign level.
- Daily Budget: It will limit the daily budget expenditure to 30.4x.
- Shared Budget: It will let you run multiple campaigns on the same daily budget.
- Monthly Budget: Estimated daily budget (if it exceeds) x 30.4 o4 you can set up a monthly budget on a campaign level.
Google Ads Budget OptimizationPicture this: Your Google ads account is new and in a trial phase. Be ready. There will be ups and downs. First thing, opt for a 1-week trial to see how it works. Say, you’ve got 4 leads or 200 clicks for 1000 INR. Is it fine for you? If not, it needs optimization. For Google Ads Budget Optimization, not a minute aspect should be left unattended. Double-check for clicks, traffic, audience, format, and result optimization to ensure that your strategy has the power to convert. Second, with the shared budget you can’t use an automated bidding strategy; calculate your daily budget for a month or two to get a fair idea of it. (Maintain a spreadsheet) Third, be careful with the automated bidding strategy. Say, you went with an automated bidding strategy while setting your budget. Go with maximum conversion or max. Conversion value and avoid ROAS or CPA on limited budget campaigns. Estimate avg. daily expenditure to determine the final budget. It should be two or three times of your daily expenditure as when you go extravagant it will surge your CPA as well.
Google Ads Campaign Types and PurposeIf you want your Google ads campaign, you should be sure about what kind of campaign you should run. Every ad works differently and the result varies accordingly. Here is the list of types of Google Ad campaigns that you can pick depending upon your goals and budget
- Search Ads- Search ads are multipurpose ads and can be used for both new customer acquisition/ and Remarking based on keywords.
- Display Ads- Display ads are purposed to retarget YouTube audience, website visitors, and gain new customer acquisitions by reaching affinity audience and in-market audience.
- Shopping Ads- Next comes, shopping ads that are highly engaging. Marketers can run smart shopping campaigns through automatic bidding and keyword-based standard campaigns for more traffic (Don’t forget to create a Google Merchant Center account for product listing)
- Video Campaigns- The most intense and profitable video campaigns are features to promote videos and reach YouTube new customers by setting custom audiences, keywords, and topics. The ads can get potential traffic through retargeting- website visitors, previous visitors of YouTube videos, subscribers, etc.
- Discovery- Easiest to implement for the custom audience by researching competitor’s keywords and remarketing for Gmail and mobile apps ads.
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