There are many tactics and strategies that an advertiser can choose to use during the duration of their campaign. However, not all of those tactics may be the right one and money will be wasted. Being efficient with a campaign budget is just as important as the many other pieces of the puzzle in running a campaign. So, how can you be efficient with your budget?
Common creative sizes for digital advertising campaigns include 300×250, 728×90, and 160×600. Once these creative sizes and any others you choose to use are uploaded into your campaign, wait at least 7 days to check back on the performance of those creatives. At the check-in, if 300×250 and 728×90 are performing well above any other creative assets within the campaign or a certain ad group, adjust the creative by either removing the poor performing ads or moving them to an ad group where they may be performing better. This will allow the budget within that ad group to be spent on placing those creatives that are getting better traction.
Add to Ad Groups
Additionally, 7 days after a campaign launch you may notice that one ad group is outperforming the others within a campaign. To optimize the budget, pull money from the less performing ad groups and replace the money in the ad group(s) that is receiving the most impressions, highest click-through-rate, or best cost-per-acquisition. With this adjustment, you’re ensuring that your money is being spent placing the right creatives in front of the right audience.
One final way you can budget efficiently is with the minimum and maximum bids in an ad group. A contextual ad group will have a cheaper cost than a data ad group. Therefore, the minimum bids should be less in the contextual ad group than it would be in a data group. For example, if you a running both data and contextual ad groups, run your contextual ad group with a minimum bid of $1.00 and a maximum bid of $5.00, whereas in the data ad group your minimum bid may be $2.00 because that inventory is more expensive. Certain inventory will always be cheaper than others. Test the bids cheaper first and adjust if performance is down.
Running a successful campaign can’t happen without a budget. Pay attention to the performance of the campaign and make any adjustments needed to ensure that the budget is being used in the best way possible.