Overview
The Budget Allocator is a powerful tool that analyzes the performance of your Google Ads campaigns and provides weekly budget allocation suggestions. These suggestions are tailored to optimize your campaigns based on your account's target metrics, such as Cost Per Acquisition (CPA), Return on Ad Spend (ROAS), or maximizing clicks. This article will guide you through the prerequisites, how to generate and apply budget allocation suggestions, and tips for improving the tool's effectiveness.
In this article we will cover,
Prerequisites
Review and apply Budget allocation suggestions
Improving the Effectiveness of Budget Allocation
Prerequisites
Before using the Budget Allocator, ensure the following prerequisites are met:
Review account performance target: Make sure your account target is set correctly, this can be review and changed under Site Settings . The Budget Allocator can optimize for CPA or ROAS, so make sure it's setup correctly before you review the suggestions.
Total Account Budget: The Budget allocator will never suggest to increase your overall budget, the total budget will stay the same until you manually change the total budget in the UI.
Generate and Apply Budget Allocation Suggestions
Follow these steps to generate and apply budget allocation suggestions using the Budget Allocator:
Step 1: Access the Budget Allocator
Open the Budget Allocator tool from your dashboard or navigate to from Campaigns and click Manage budgets from the top right of the page.
Step 2: Review Weekly Budget Suggestions
Automatic Analysis: Each week, the Budget Allocator will analyze the performance of your campaigns based on your selected target metric (CPA, ROAS).
View Suggestions: The tool will generate budget reallocation suggestions, such as increasing the budget for high-performing campaigns and decreasing it for underperforming ones.
Step 3: Evaluate Suggestions
Assess Performance Data: Review the performance metrics that the Budget Allocator used to make its recommendations. This may include data on conversions, click-through rates, and overall ROI.
Consider Campaign Goals: Ensure that the suggested budget allocations align with your individual campaign goals and overall account strategy.
Step 4: Apply Budget Suggestions
Apply Individually: If you agree with specific suggestions, click "Apply" next to each recommendation to implement the budget change for that campaign immediately.
Apply All: To apply all the suggested budget changes at once, click the "Apply All" button. This will instantly update the budgets across all campaigns according to the tool’s recommendations.
Adjust Total Account Budget (Optional)
Modify Total Budget: If you need to change your total Google Ads account budget, input the new amount into the Budget Allocator. The tool will then generate new allocation suggestions based on the updated budget.
Review New Suggestions: After adjusting the total budget, review the new suggestions and apply them as needed.
Review Budget changes in Activity history
You can always go in an review the change log of what budget changes that have been made by click the Activity history link.
Improving the Effectiveness of Budget Allocations
To get the most out of the Budget Allocator, consider the following strategies:
1. Regularly Review Campaign Performance
Weekly Reviews: Even though the Budget Allocator provides weekly suggestions, it's important to manually review campaign performance regularly. This ensures that the tool’s recommendations align with any changes in your marketing strategy or external factors.
Adjust Target Metrics: If your business objectives change, such as shifting from maximizing clicks to focusing on CPA, update your target metric in the Budget Allocator to get relevant suggestions.
Conclusion
The Budget Allocator is a valuable tool for optimizing your Google Ads budget by providing data-driven suggestions tailored to your target metrics. By following the steps outlined in this guide and applying the recommended strategies, you can make informed decisions that enhance the effectiveness of your ad campaigns. For any further assistance or troubleshooting, please refer to the tool’s help section or contact support.