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What is the minimum daily budget to run an effective Performance Max campaign for lead generation? In this video, I give you my advice on calculating the minimum budget for Performance Max campaigns.
What do you think is a good enough minimum daily budget to run an effective Performance Max for lead generation? Great question. Now, Performance Max needs a fair amount of budget because it has got to do so much is doing search ads, display, video, Gmail and all that. Sometimes you might struggle with $10, $20 a day what we have found that when we are running into hundreds of dollars a day budget it starts to really gather speed and start to perform very quickly. But it may not be viable for you to spend so much money. I would recommend that if you can budget about as a bare minimum $30 or equivalent in your currency I don’t know where you are.
Let it run for a few days. You need to let it run for at least six weeks. Don’t try to make too many changes too quickly and I’m going to make a video on how to optimize PMax as well. Let it run for six weeks and see what happens. What you will find is you’re not only getting conversions but you are increasing your remarketing list. You are pixeling more people in because the click cost from display, video and all these other channels compared to search is a lot less as well. So you get more bang for your buck. So not only you are focusing on the conversion goals, you are also getting your remarketing list bigger. You’re also getting video viewers.
So you’re creating a remarketing list for your video campaigns as well and so on. So it works pretty much you know like a 360-degree marketing campaign where everywhere your client goes a prospect goes you’ll hit them. So start with about $30 if you can. If you can’t afford that then whatever budget you’re comfortable losing. Don’t overstretch yourself and don’t throw everything in Google. Which will you know where you find yourself in a situation where you’re having cash flow problems. Never do that and this advice is to anybody and everybody. It’s really important that you manage your cash flow. And you got to break even as quickly as possible with any kind of advertising. And be cash flow positive. Otherwise, you’ll never be able to scale your campaigns.
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