Maximizing Results with a Limited Budget in PPC Advertising
Many advertisers face the challenge of working with a tight budget for pay-per-click (PPC) advertising. This limitation can make it difficult to maximize results and achieve the desired outcomes. One of the first questions that often arises is, “How much should we spend?” This question is pivotal as it sets the stage for the entire PPC strategy.
Setting Expectations For The Account
With a smaller budget, managing expectations for the size and scope of the account is crucial. It’s essential to balance your company’s PPC budget with the cost, volume, and competition of keyword searches in your industry. Implementing a well-balanced PPC strategy that includes display and video formats can help engage consumers.
First and foremost, determining your daily budget is key. For example, if the monthly budget is $2,000, the daily budget would be set at $66 per day for the entire account. This daily budget will also dictate how many campaigns you can run simultaneously, as the $66 will be divided among all campaigns.
It’s important to note that platforms like Google Ads and Microsoft Ads may occasionally exceed the daily budget to maximize results. However, the overall monthly budget should not surpass the Daily Budget x Number of Days in the Month.
Prioritize Goals
Advertisers often have multiple goals per account, but a limited budget will restrict the number of campaigns and goals you can focus on. Common goals include brand awareness, leads, sales, and repeat sales. For instance, a small budget can be used to promote a scholarship program, dividing the daily budget of $82 between leads (search campaign) and awareness (display campaign).
Location Targeting
Location targeting plays a vital role in reaching the right audience and managing a small ad budget effectively. Focusing on essential target locations where your customers are located is key. You can refine location targeting by states, cities, ZIP codes, or a radius around your business. Adding negative locations where you do not do business can help prevent irrelevant clicks that waste budget.
Ad Scheduling
Ad scheduling allows you to control your budget by running ads only on specific days and during certain hours of the day. Limiting ads to hours of business operation can be beneficial for smaller budgets. Reviewing hourly results over time can help determine if there are hours of the day with a negative return on investment (ROI).
Set Negative Keywords
Developing a well-planned negative keyword list is essential for budget control. Negative keywords prevent your ads from showing on irrelevant keyword searches and websites. Proactively generating negative keywords and regularly reviewing query reports can help refine your list.
Smart Bidding
Smart Bidding, powered by Google AI, is a game-changer for efficient ad campaigns. It automatically adjusts bids to serve ads to the right audience within budget constraints. Strategies include Maximize Conversions, Target ROAS, and Target CPA.
Try Display Only Campaigns
Display campaigns can expand your reach to a wider audience for branding and awareness. Audience targeting, including topics, placements, demographics, and remarketing to website visitors, can enhance your display campaign’s effectiveness.
Performance Max Campaigns
Performance Max (PMax) campaigns use automation to maximize conversion results across channels. This campaign type can be beneficial for limited budgets as it utilizes AI to create assets, select channels, and audiences in a single campaign.
Target Less Competitive Keywords
Researching and targeting less competitive keywords can help you compete effectively on a smaller budget. Utilize tools like Google Keyword Planner to compare and estimate keyword performance.
Manage Costly Keywords
High volume and competitive keywords can be costly. Consider restructuring these keywords into their own campaign, experimenting with match types, and writing more relevant ad copy to improve quality and reduce costs.
As you implement these strategies, managing a PPC account with a limited budget involves strategic campaign management, data-driven decisions, and ongoing optimizations. In the world of paid search advertising, every click counts, and with the right approach, every click can lead to meaningful results.
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