January marks the start of New Year resolutions in work life and at home. There are many PPC trends earmarked for 2020, however, before you go overboard with your ad spend, it’s important to consider your budget and what will work for you.
Place forecasting at the fore
By making educated predictions about your performance in the upcoming year, you can make better informed decisions on where to spend your PPC pounds. Planning ahead is important if you are to maximise your budget each year. Google Keyword Planner provides traffic estimates, whilst monitoring the PPC news can prepare you for any expected market changes.
Set your budget based on data
It can be tricky knowing how much you need for a PPC budget, so first things first, you need to know the value per lead, the number of leads you will need to obtain through PPC and your affordability.
Monitor performance on a weekly basis
Projections sheets allow you to analyse where you are up to with your performance targets – such as spend, clicks, conversions and CPA – week-by-week and month-by-month. They can help you to predict how the current month will end performance-wise so you can make any quick budget changes.
Choose the budget types that are best for your account
Every PPC platform has its own budget set-up, so make sure you are choosing the right settings for your business goals. You should check this every year to maximise campaign success.
Use the Google Ads Traffic Estimator
A quick and easy way to estimate how many more clicks you could expect to get (and the cost) if you increased your budget, is by using the Google Ads Traffic Estimator. These budget estimations can help you to decide whether or not it would be worthwhile spending more money.
Assign your budget according to keyword type
The lead funnel will provide you with the insight needed to know which keywords are worth spending more of your budget on. Keywords for customers at the purchase stage, at the bottom of the funnel, should be allocated more of your overall PPC budget than high-funnel and branded keywords.
Don’t expect overnight results
Although PPC can produce results quicker than other digital marketing platforms, new campaigns require a period of testing, learning and optimising before profits can be made. Therefore, make sure you set a budget that you can afford and that is suited to your business needs.
Remember to be flexible with your budget in order to chop and change your strategy throughout the year.