Budget is a fundamental variable to your advertising and campaigns, which depend on it. When managing them, it may be difficult to estimate the course of your ad´s performance, depending on your budget and various settings. Therefore, Google Ads roll out new tool that will help you with planning and forecasting. You may find it in Tools tab in your Google Ads account.
What to expect from planning?
Budget planner tool is a new tool from Google Ads that helps you track the course of your ads and campaigns. Draft budget can be based on two metrics – clicks or conversions. At the same time, you can choose a target you want to follow – clicks, spend, or average cost for click/acquisition (depending on preferred metric). Numbers for this target can be entered either manually or based on the performance in previous periods.
After setting all variables, Google will generate draft budget plan.
Because this feature is only in testing period and slow roll out, it may not be available for you. Also, at the time it does not use all bidding options.
First wait for the data
Not only will this tool help you to plan your budget, but it also offers options for comparison of forecast. For these you need analytical data from the previous performance of your campaigns. Therefore, this tool is not suitable for those who are just starting to advertise. Without these data, this tool may work unreliably or not at all.
Thanks to comparison, you can find out how your current settings (do not) correlate with your previous results. Followingly you may adjust your settings and boost the performance of your campaign.
Forecasts are updated each 24 – 48 hours, taking into account your current settings and historical data. The calculations also include holidays or seasonal traffic. Based on these forecasts, the tool further formulates various hypotheses, such as “highest number of clicks per spend”.