So, we take the monthly budget and divide by 20 to set a daily limit (most platforms allow for a daily allocation).
This amount needs to spread across each campaign.
How to Optimize Budget
In order to spend budget effectively we need to analyse each campaign on an ongoing basis based on conversions and leads. Each 2 - 5 days we look at the spend and conversion rates and decide to turn up or down spend. As we have an allocated budget we turn down one campaign that is underperforming by the same amount we turn another, high performing one up.
Platforms we advertise on.
LinkedIn
Google
Bing
Facebook / Instagram
Our Advertising History
Google
Historically, we have overspent slightly on Google for the return we received. This was due to launching early 2022 and launching a complex set of campaign ad groups and keywords and locations. A good idea but budget would need to be larger.
Actions: Currently optimizing and focusing Google Ads as we decrease budget. This budget can be fed into LinkedIn or other platforms.
LinkedIn
LinkedIn has been our best performer in terms of conversion and spend to date.
Actions: Focus on LinkedIn for all campaigns, really get to know audience and trial different targeting constantly.
Bing
Very new. Performs like Google but a little cheaper. Also, less impressions and traffic. A smaller Google.
Actions: Cut ad groups that are not converting.
Facebook / Instagram
Extremely new and not enough invested to measure a true ROI.
Actions: Suggestion would be to hold off on this completely until 2023.
Overall Requirement Suggested
Gather and collate all data and cut non-performing campaigns. Put this spend into performing campaigns and expand those campaigns.
Include USA in more targeting
Specific messaging and targeting. Move further away from general advertising.
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