As an online marketer or as an advertiser you have to constantly change your spending plans so that you spend the most on a campaign that returns the maximum on your investment. Google announced a new feature that will enable you to do just that without breaking a sweat. You can now plan your daily spend budget more judiciously across several campaigns in an AdWords account. Your ability to stay within the allocated marketing budget increases and this obviously saves you time and money. Here is how the shared budget works:
For example let us assume that you are a sports apparel dealer and are running three simultaneous campaigns
A mobile search campaign
A remarketing campaign for those that visited your site but did not become your customers
- A normal desktop campaign targeted at old school desktop user
Your marketing budget for these campaigns is $150 per day. Out of which you allocate a AdWords budget of $100 daily for the desktop. For the Mobile campaign you allocate $30, and for the remarketing campaign you plan to spend only $20. You have observed that every single campaign of yours hits its daily budget and you are happy with that. However, there are some days, like holidays and weekends, when there are fewer clicks on the Desktop campaign and you manage to spend only $80. Now this could happen because of the holiday or due to the weekend when most buyers, who surf and browse while in the office, are not on their respective desks. So you essentially have $20 as unspent. Now it would be immensely helpful if you could allocate this surplus $20 to your mobile campaign. In the present scenario you would have to manually do the changes and allocate the extra $20 to the mobile campaign. This means it puts some constraints on your time.
This is where shared budgets come in handy. With shared budgets you can make automatic adjustments across campaigns. You no longer have to monitor your campaign and make changes to the allocation on your off work days.
Creating a shared budget is easy and simple. All you have to do is log into the AdWords interface and go to Shared library and select Budgets. Once you have selected budget follow the steps mentioned there in to create your shared budget.
You can also review the performance of all your campaigns in the Shared library and determine the performance metrics. In case you need to know more watch this space as we will keep you updated.