How To Allocate Your Ad Budget Effectively | How To Set Google Ads Budget For Small Business
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Are you confused about how to spend your advertising budget? In this video, I’m going to show you how to allocate your ad budget effectively. With the right marketing strategy, you can significantly increase your ROI.
I know about how things work in Google Ads, but I’m always getting stuck in strategy-making. Okay. Budget allocations, always. I’m looking to switch my current job, but in interviews I always clear technical questions. I think you mean, but always fail to clear strategy making and budget allocation part. How can I work on that? I need your guidance, how I can improve this? All right, so what you’re saying is you’re pretty good on the technical side of the things like how to set up a campaign, ad groups, keywords and all the rest, but you’re struggling with the strategy and the budget allocation. Let’s start with the budget allocation. That’s a very simple answer.
So if I was the interviewer and you came for the interview and I’ll ask you how you allocate your budget amongst the ten campaigns and you got $100, how much will you allocate for each campaign? If nine of them were losing money and one of them was making money. My reply would be I would put all of them. All the $100 in the campaign. Which is performing the best? And then perhaps ask the client whether they want to give me some additional budget for testing the other nine campaigns or to run them for a bit longer to see if the performance improves with a bit of optimisation.
If they say, no, we don’t have any more budget and we don’t want to increase the budget, then you say, okay, fine. Instead of $100 running on one campaign, I would reduce it down to $85 or $80 or something like that and put a little budget on the other nine campaigns. So budget allocation is straightforward. Always put the most budget into the most profitable campaign or campaigns, Right? Cut out all the wastage. If it’s bleeding money, if it’s wasting money, stop it, pause it, kill it. And that’s what you want to do. With regards to strategy making that is where you will speak with your client and ask them what are the goals of their business and what are they trying to achieve. Some companies will say we need brand awareness, and some will say we need conversions, leads or calls. Others will say we want sales online, eCommerce stores and stuff like that. So depending on the goals of your client, that’s how we would create a strategy.
So there is a simple way to do this. You ask them, okay, what is your current situation, what is your desired situation? So let’s say in six weeks’ time or two months’ time or whenever what would you be happy with in two months’ time? If I were to start working today, then the client is going to say, oh, I need ten leads a day or ten sales a day or whatever like that. Then now you know the end goal. So without that end goal, you cannot create a strategy. So always go and ask your clients what would they be happy with, and what are their goals.
And then you create your strategy to go towards it. And then you say, okay, now the strategy would be to run search ads, display, video, remarketing and all these Performance Max campaigns. Get your ads and your name out there at every opportunity, at every touch point in front of your audience and then we try to increase and improve the performance of your campaigns. So that’s how the strategies are worked at. It’s not simple, but as you keep doing it, you’re going to get better and better.
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