Driving Budget Efficiency To Manage PPC Budget
In the world of PPC, where every click matters, budget efficiency plays a crucial role in driving account performance and ensuring that your PPC budget is allocated in the most effective way possible.
In this blog post, PPC Executive, Donya, delves into the powerful impact of budget efficiency and how as an agency, we use it to drive results for our clients.
How Can I Best Allocate My PPC Budget?
In order to get the most from PPC activity, effective budget management is key.
Through campaign data analysis and correctly identifying areas where budget might be being wasted, advertisers and businesses can make sure that their PPC budget is reallocated to the most profitable account activity, including high-performing campaigns, ad groups, and keywords.
By mastering budget efficiency, you can ensure that every penny invested in PPC generates a significant return.
3 Steps To Budget Efficiency
Whilst every account and client is different, with varying pain points and strengths, there are some steps that will work for everyone when it comes to driving effective budget management.
Here’s the three things we never miss when it comes to making better budget decisions for clients:
- Eliminating Wasted Budget:
One of our primary objectives as an agency is to identify and remove wasted budget for our clients.
Through meticulous analysis and monitoring of campaign performance, we can identify underperforming keywords, ad groups, or campaigns that are draining budget without delivering desired results. By eliminating the areas of wasted budget, we’re able to redirect budget towards more productive avenues, which in turn, maximises ROI for clients.
- Optimising Campaign Structure:
A well-structured PPC campaign can lay the foundation for success and as a specialist PPC agency, we possess extensive knowledge and expertise in campaign structuring to ensure that budget is allocated strategically across different campaigns and ad groups. By grouping keywords effectively, optimising ad copy, and fine-tuning bidding strategies, we know how to help our clients achieve a higher CTR, lower CPC, and ultimately, drive more conversions.
- Continuous Monitoring and Data Analysis:
It’s crucial to continuously monitor and analyse campaign data in order to drive budget efficiency and best allocate PPC budget.
Using reporting tools and technology to monitor KPIs such as CTR, CVR and CPL, we can identify trends, spot opportunities for improvement, and make data-driven decisions to optimises PPC campaigns for success.
What Other Factors Can Affect A PPC Budget?
There’s no ‘one-size-fits-all’ for managing your PPC budget, so being aware of the surrounding factors is essential to make sure that you are driving budget efficiency where possible for clients.
During super competitive times such as Black Friday, it’s common to see an increase in competitor activity, which in turn, can affect budget efficiency and allocation due to an increase in CPCs. However, seasonality can also work in favour when looking to efficiently allocate PPC budget, as conversion rates tend to increase during these times, with more consumers shopping with the intent to purchase.
Basically, being aware of the surrounding factors that might affect a client’s budget, paired with continuous performance and data analysis, is the best way to set yourself up for success when it comes to driving budget efficiency.
Case Study: Miele
PPC testing plays an essential role in driving budget efficiency, as this is what allows us to explore and understand the most efficient, high-performing campaigns and account details.
This is what we did for longstanding client, Miele, when they wanted to provide extra budget, to ensure that it was being spent in the most effective and efficient way possible.
Conducting a 30-day test on products within a certain category to highlight how it could help drive budget efficiency, we saw the following results:
- 182% ROI increase
- 275% revenue increase
- 400% sales increase
- 64% cost-of-sale decrease
To find out more about how we could better help you drive budget efficiency and best allocate your PPC budget, contact us here.