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My first time performance forecasting - help with best practices

Visitor ✭ ✭ ✭
# 1
Visitor ✭ ✭ ✭

Hi community,

 

I was recently hired for an entry-level position in a lead gen firm. I didn't have a lot of AdWords experience, but I'm starting to get a grip on it now.

 

Next up we're going to do some performance forecasting for a new product: B2B Coffee machines in Norway. I have not done this yet, therefore can you help me with some advice on best practices here? I need to present the following:

 

1) Cost per lead (average)

2) Conversion rate %

3) Projected leads (monthly)

 

From that we can calculate the expected gross margin with information from our sales team.

 

I have a long list of keywords from Keyword Planner (KP) and keywordtool.io. I've tried to upload them to the forecasting feature in KP but I don't know exactly what to make of it.

 

When I compare the results in KP, they seem very different than the same product in other markets. Also what about match type? I guess it doesn't take into account that I will put all keywords in phrase and exact match.

 

Furthermore, some of the keywords are very broad, and likely won't bring in as qualified traffic as a more longtail one. KP doesn't take this into account, I guess? What do I do then, since it does skew the results. The fact that I have some predetermined info in the area is not something KP can handle of course.

 

Anyway, I guess I just need some general guidance. Maybe there is a better way to go about this? When I try to forecast, I feel it just ends up being an estimation of coffee machines leads in the neighboring countries.

 

Thanks!

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Accepted by topic author Martin S
June

My first time performance forecasting - help with best practices

Rising Star
# 2
Rising Star

Based on my experience you can't present the accurate data for KPIs which you have mentioned unless you have previous AdWords performance history. Especially in b2b. 

 

You can't predict conversion rates even if you have data from organic traffic or other traffic sources as conversion rate would be different. 


The best way is to start giving ads on most relevant keywords + remaketing using test budget. Once you will get first results you can predict something.  

Cheers, Alexey
UAWC Agency

My first time performance forecasting - help with best practices

Visitor ✭ ✭ ✭
# 3
Visitor ✭ ✭ ✭

Those are very good points, Alexey. I will try and communicate that I need a test budget before I can say anything with certainty. Then I guess I have to make some guesstimations based on neighbor markets and keyword planner, to even get the thing going.

My first time performance forecasting - help with best practices

Top Contributor
# 4
Top Contributor

I would start by the estimates provided by the marketing team about the max CPA, adjust the CPC accordingly and make changes  "on the fly". That said, it does require close monitoring of performance(s) during the first month.

Moshe, AdWords Top Contributor , Twitter | Linkedin | Community Profile | Ad-Globe
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My first time performance forecasting - help with best practices

Visitor ✭ ✭ ✭
# 5
Visitor ✭ ✭ ✭

Thanks MosheTLV!