Why should your business use a performance planner? Digital marketing offers a means of communicating with consumers that is both cost-effective and high-impact, making it an attractive option for smaller firms with lesser marketing budgets that are competing with much larger businesses.
This is due to the fact that many components of digital marketing can be managed in-house using the time and resources that are readily accessible, or they can be partially outsourced to supplement the efforts of your own marketing team. In this post, we are going to take a look at why using Google’s Performance Planner is an absolute necessity for any business or marketing manager who is going to go on this path, as well as how to get started with this tool.
Why should your business use a performance planner?
Performance Planner is one of the digital marketing tools that Google offers to businesses. It works in tandem with other Google marketing tools such as AdWords, Analytics, and Search Console, among others, to make it simpler and more fruitful for companies to market their goods and services on Google. It takes into consideration billions of search queries and updates its data once every 24 hours.
This enables you to estimate the performance of Google ads for Search, Display, and Shopping campaigns. After that, it generates a simulation of relevant ad auctions that have taken place over the previous seven to ten days, providing you with meaningful data that also takes into consideration factors that influence performance (seasonality, competitor activity, past performance, existing performance, and landing page).
Why use Performance Planner?
Performance Planner is essential for effectively regulating the costs of online advertising campaigns because it instructs you on how to adjust your bids and budget so that each of your campaigns is optimized for a certain measure.
It does this through a process known as machine learning, which involves collecting and analyzing billions of search queries in order to assist you in making more educated choices. Additionally, it lets you evaluate what influence prospective modifications to your campaign will have on various KPIs, which enables you to maintain your advertising campaign aligned with your objectives.
The reasons why Performance Planner is so effective are as follows:
- It provides recommendations that are confirmed by machine learning, improving the performance of your campaign.
- It enables you to develop campaigns that are specific to your advertising budget.
- It reveals opportunities during specific times of the year.
- It gives you the opportunity to investigate a variety of results by simulating campaign conditions before the actual execution.
How to set up a Performance Planner
Within your Google Ads account is where you will find the Performance Planner tool.
The tool will automatically identify advertising campaigns that are qualified for the tool; therefore, if your campaign is not being displayed, it is quite likely that it does not fulfill the requirements for the campaign. All of the eligibility requirements can be found on this page, but the following are the most fundamental requirements for contests:
- Having received more than three clicks within the past week
- Utilizing bid tactics such as improved CPC, manual CPC, or target CPA
- One conversion was received within the past seven days.
- Having a duration of at least seventy-two hours
- If (condition), then you will be unable to use the Performance Planner.
- Your advertisements have been running for fewer than seventy-two hours now.
- In the event that you have not obtained any clicks or conversions
- If any of your campaigns have been removed.
- In the event that you are running your campaigns on a common budget,
As soon as you have an eligible campaign to work on, the first thing you should do is select the performance measure that you want to track from the drop-down option. This contains the number of clicks as well as conversions and the value of conversions.
After that, choose the dates of the forecast period that you want to cover and the amount of time that you want to cover it for (number of days). You also have the option to choose a target, and the vast majority of marketing professionals will enter their CPA or ROAS (conversion value/cost) goal here.
Understanding the results
The Performance Planner will then generate two resources – a Plan Summary that lists your metric increases/decreases by campaign according to the plan, and an Ads Editor file that can be uploaded to Ads Editor, streamlining changes you want to make to your budget and bids.
- The summary graph – This is a simple, clean graph that tracks campaign performance in terms of the settings you input, giving a clear visual of the forecast. If you are above the blue line, your campaigns are already performing above Google’s expectations, and if they are below, it’s an indicator that you need to change your spending or bidding and other elements to get back on track.
- The before/after metric comparison table – This table tracks the spend, key metric, and target metric along both existing and planned tracks, making it easy to see a high-level view of growth potential in your campaign.
- The compare tab – This is a useful chart for tracking existing settings, planned settings, and past performance in a simple and insightful format.
Reviewing and implementing your plan
Enter the Google Ads Editor to examine and put your plan into action, improving both the effectiveness and efficiency of your advertising spending. The following is the procedure:
Sign in to your Google Ads account, and then click on the symbol that looks like tools and settings. You can find this button in the top right corner of the page.
Choose Your Favorite Performance Planner
- Simply select the strategy you wish to investigate further and put it into action.
- Simply locate the download icon in the upper right-hand corner of the screen and click on it.
- Select the file using the Ads Editor (.csv)
To assess and put your strategy into action, you can import a CSV file into Google Ads Editor by following the instructions found here.
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