A new performance planner is available in Google Ads. This tool is designed to help advertisers understand how to allocate a defined monthly budget for all of their campaigns based on Google's forecasts to optimize incremental conversions or other advertising goals. It can also be used to understand the potential impact of changes on conversions, clicks, and other performance metrics.
It is part of the new products put forward during Google Marketing Live Tuesday.
How to use it. Advertisers can also play with other entries, such as CPA, spend, and new keywords, to see Google's projected impact on the results. When we first talked about it in March, it was called Budget Planner, so it has changed names since the official announcement, but the features are pretty much the same.
You can create a budget plan by clicking on it. or conversions as a key metric. You also have the option of choosing a target: clicks, CPC spend, or average if you select clicks as the primary metric, or conversions, CPA spent, or average when conversions are your key metric.
You can see how your current settings and your planned settings should overlap with past performance. You can change the time interval of the past performance period.
It is strictly a planning tool. Unlike the Keyword Planner, for example, you can not implement changes from the Performance Planner. Instead, you will need to download the changes and download the file into the Google Ads Editor.
Requirements for campaigns to be eligible. Campaigns must meet the following criteria to be eligible for the forecast. The tool will warn you when campaigns are not eligible.
Have been working for at least 72 hoursHas received at least 3 clicks in the last 7 daysHave received at least one conversion in the last 7 days (if campaigns are focused on conversions) Search campaigns using a cost per manual CPC, enhanced CPC, target cost per action (CPA), maximize clicks, or maximize conversion bid strategy.
How the forecasts are calculated. Google uses both the history of its campaigns and the auction data in its forecasts. In addition:
Forecasts are directional and are updated every 24 to 48 hours. They take into account holidays and seasonal traffic depending on the type of business and the location. Forecasts are all the more accurate as forecasts are generated around the start date. If your campaigns do not have enough conversion data to create a forecast, but they have enough clicks, you can manually enter a conversion rate to display the conversion forecast.
Why we have to worry about it As we wrote in March, this tool will not tell you how much budget you should start, but it can provide directional information (keyword here) on how changes in spending might affect performance of campaigns that already have enough historical data. .
About the Author
Ginny Marvin is the editor-in-chief of Third Door Media and manages the daily editorial operations of all our publications. Ginny writes on paid online marketing topics including paid search, social networking, targeted posting and retargeting for Search Engine Land, Marketing Land and MarTech Today. With over 15 years of marketing experience, she has held senior management positions in both in-house and agency management. It can be found on Twitter under the name @ginnymarvin.