As a business, you’ve probably contacted many PPC professionals by now and asked them to analyze your budget and basically predict the future.
Well, this is certainly a daunting task and some of the most common questions companies ask include:
1. Is it possible to spend an extra $10,000 this month? Would that be a good idea or not?
2. How much could we spend without impacting our CPC (cost per click)?
3. How many conversions and clicks does our current budget leave on the table?
4. Are we doing our best to increase our impression share?
The truth is that if you really want a fairly good Guide To PPC Budget Forecasting, then we’ve come up with one below. Let’s take a closer look at it.
Your AdWords account
The first step in our Guide To PPC Budget Forecasting is to go to Campaigns and then consider adding in the lost Impression share and Impressions Share columns. Now download the data for the last month (thirty days), but if you think you made some pretty important changes, then download the data for the last 2 weeks.
Use Excel to open your data spreadsheet and then check your live campaigns. After that, you need to calculate the way your budget would look if somehow you could regain your lost impressions.
For instance, let’s say that you have a TV campaign that you’re getting only 40.76% of your impression share.
To see how much you’d be getting if you could pick up the remaining 59.24, you need use a specific formula that goes like this: (Impression Share/Impressions) multiplied by Lost Impression Share due to budget.
By using this formula, you’ll be able to calculate your numbers and learn more about the potential for your campaign and see exactly how much you’re missing out on. After making the necessary changes to your campaign, you’ll be able to greatly improve your ROI!
Pretty neat-o huh?