Performance and Pay-per-click marketers have to constantly keep an eye on their spending budget, and ad performance, and somehow predict the future. This is not only impossible but can also put your entire marketing budget at risk of getting wasted. Most ads can depend upon the high and low season, chosen audience, traffic, and so much more. It can be impossible to create a new model for every ad that you run.
So, many marketers choose the Google Performance Planner tool. All you need is a reliable internet connection like Spectrum advanced home wifi and some basic knowledge to run it. The tool can help create better plans for your ad spend and assess how well your ad can do under set circumstances. This article will talk about the tool in detail and help you understand how it can help your business.
What is a Performance Planner?
The tool is part of Google’s suite that includes other digital marketing tools like Google Analytics, AdWords, and Search Console. It is one of the most reliable tools to make your Google ads perform even better and track their performance in changing conditions. The tool can help you figure out any current and future opportunities for your business. Moreover, you can track and improve ad performance over campaigns for Search, Display, and Shopping. The planner helps you understand the opportunities while managing your budget and adjusting campaign settings to get desired outcomes.
How Does It Work?
Performance Planner updates the data it uses every 24 hours so you can rest assured that its results are accurate and up-to-date. The AI tool uses the latest search queries and comes up with the most accurate forecasts possible. It also takes into consideration your landing page, what your competitors are up to, and relevant ad campaigns from the last week to ten days.
The tool can help you assess your situation during peak and low times as it includes variables like the season, competitor activity, etc. However, if you think there are too many variables including the market size and status, you should update the settings every week instead of monthly.
The tool uses AI and machine learning to measure the simulations with actual performance and create even better results. You will need to run a few ads to generate enough clicks or conversions for Performance Planner to work more accurately.
Benefits of Performance Planner
The Performance Planner tool can help you effectively manage your campaign costs by carefully considering all the metrics you have used. It can help you change your bid and then optimize each metric to fit your needs and budget requirements. You can use it across your campaigns and get more fine-tuned results and forecasts. The tool uses Machine Learning to incorporate your history with the current trends in the market. As a result, you can get closer to your set goal and manage everything using one tool only.
You can rely on the results because the data is updated on a daily basis. Moreover, the process involves accessing billions of search queries every day and then leveraging them for better forecasts. The tool works effectively to gauge the effects of a market change over any one or all of your metrics. Moreover, it can help you keep your ad budget and results in line with the intended goal.
Requirements for Eligible Campaigns
Not all Search, Display, and Shopping campaigns are eligible for Performance Planner. Here are the basic requirements for being eligible that are the same for campaigns across the board.
- The campaign should be running for at least 72 hours.
- It should receive at least 3 clicks within the last 7 days.
- Receive 1 conversion in the last 7 days.
- Using multiple bid strategies like enhanced CPC, manual CPC, and target CPA.
The Performance Planner will not work for any campaigns that don’t fulfill the above criteria. Moreover, you cannot run the tool for deleted campaigns as well as the data is pretty much lost. The above criteria are general for all types of campaigns. However, there are further details for each type that can be found on the Google Ads Help page for Performance Planner.
Setting It Up
If your campaign matches the above criteria, you can then set the Planner up easily. Select the performance metric that you want to track from the drop-down menu. This can be anything from conversion, clicks, and conversion values.
Then the next step is to determine your forecast period. This includes setting the dates and the number of days. The tool also lets you set up a goal/target and you can add your ROAS or CPA in this section.