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In the past few weeks we’ve talked about the number of Active Ads within your campaign, and how to limit your Bids and Budgets. This week, we’ll walk through the last two letters in the “ABCs” of making sure your campaign daily budget is paced properly:
When consumers are left to their own devices (pun intended), they are far more active within the online marketplace. That is to say, when the average user is at work, their consumption of social and online media is a little more limited than it would be when they’re not at work. So, Saturdays and Sundays (and sometimes Fridays) are almost always higher volume days, as opposed to the standard work-week days of Monday and Tuesday. Since the potential to spend more exists when the marketplace is busier, why not try to spend more of your weekly budget on days where there are more users present?
If you think of your Daily Budget as 1/7th of a Weekly Budget, you can easily adjust your Budget Pool within Nanigans software to reflect your priorities. Simply decide which days you’d like to spend more of that $7,000 per week allocation — spending more on the busier, more fruitful days (like Friday, Saturday, and Sunday), and less on days where there isn’t as much traffic (like Monday through Thursday). Instead of a rigid $1,000 per day, spread it out so your budget “finish line” is different on a day to day basis. Our software’s pacing algorithms automatically recognize a new budget goal, and will pace toward the proper number for each calendar day.
We’ve all heard the clichéd expression “Rome wasn’t built in a day.” Well, neither was a multi-national online advertising campaign. It takes time to hit your spend goals and key performance indicators with any sort of consistency, so try to be realistic about the numbers you expect to see after the first day since the launch of your campaign. If you’re eventually looking to spend $1,000 per day, but you’re only able to spend $500.00 on Monday, the first day of the campaign, that’s great! You can build on this performance!
Push some more ads to new audiences, increase the number of active ads in your existing audiences, raise your Maximum Bid, allow for more rapid budget expansion – do whatever it takes to get closer to that goal, because if you missed the mark on Monday, there’s ALWAYS Tuesday.
The point is that it’s not the end of the world if you don’t hit your Daily Budget on the first day of the campaign, or the first day of a new campaign initiative. In fact, you should expect to miss that number in the early hours post-launch. By being diligent with your campaign setup, making the appropriate tweaks where needed, and remembering that no dart thrower ever hit the bullseye on their first try, you’ll build on your previous day’s performance and get closer and closer to hitting that Daily Budget – consistently and on time, at the end of each day.