Your ad budget is probably the most important factor to consider when starting an ad campaign. Crunching the numbers may seem difficult – how much are you supposed to spend? What are other marketers spending on their ad campaigns? Are you overspending, and will you get a positive ROAS? The new Google Ads New Budget Report can help you ease these anxieties.
What’s Up with the New Google Ads Budget Report?
The New Google Ads Budget Report is great because it will allow marketers to visualize monthly ad spend behaviors. This is meant to come as an aid to advertisers who want to see how, more exactly, their budgets are spent from one day to the next.
Google Ads’ New Budget Report also highlights daily spending, monthly limits, and your monthly ad forecast. Furthermore, it allows you, as an advertiser, to see exactly how budget changes can affect your ads’ performance.
With the new report, your budget report becomes a graph, with the monthly spending limit represented by a grey line and the predicted monthly spending forecast represented by a dotted blue line. The same graph will also show you a cost-to-date spending, which is represented as a solid blue line.
The shaded blue area of the graph shows the upper and lower bound of aggregate spend that will occur on a given day. When there are changes to the average daily budget, this is represented with arrows on the date range of the budget change.
Google Ads’ New Budget Report will show your daily spending. This might be up to twice your average daily budget, but it’s good to get exact numbers to utilize your money to its fullest potential. This tool is also great because it can show you the days when your ad is more likely to get clicks and conversions.
If you choose to set a monthly limit, you won’t be charged more than your average daily budget times the number of days in a month. This is great – because each month has different days, you can not only notice trends regarding your ad campaign, but you’ll always know how much money you’re spending and making on your ads.
This feature allows you to track your monthly spending, the cost to date, and any other changes to your budget you have made along the way.
Who Will Benefit from Daily Campaign Spend Tracking and Why?
The new Google Ads Budget report helps advertisers fully understand their budgets and how they affect their ad campaigns. There is less room for error when determining a campaign’s spending limits, and how changes can positively or negatively affect ad performance. Furthermore, this information can be used to project the approximate amount that is to be paid at the end of the month, which is a great tool for smaller campaigns and businesses with smaller ad budgets.
Also, the ads budget report is helpful because it can help marketers prepare for the month ahead. Tweaking the budget, crunching the numbers, and using that to gain a better understanding of how your money is being used in ad campaigns is the key to guarding your ROAS!