Mother's Day Tips: How to get the most for your money
With the countdown to Mother’s Day getting closer, now is the right time to get your bids and budget right.
If you set up your new campaign after Zee’s post here you will have set up some bids and a budget to get your ads running. With a few days data in your account now is a good time to take a closer look at your bids and budgets.
Your budget should be based on whatever your business is comfortable spending on advertising. If you compare your budget against your return on investment you will be able to tell if your budget is too high or too low. Conversion Tracking is a quick and easy way to work out what your return on investment is, if you’re having any trouble working this out.
With Enhanced Campaigns you get a lot more freedom in terms of what you can bid for users in certain locations, at certain times of the day, and on different devices. By adjusting your bids you can control your bids and be smart about how you spend your budget.
For example, if you run a cake shop and are promoting your Mother’s Day cookies and you know that you get the majority of your leads from users on mobile phones, you can adjust your bids for mobile phones so that they are worth 120% of your desktop bid. This would make a $1.00 desktop bid a $1.20 mobile bid. (However, if you don’t want your ads to show on mobiles at all you would adjust your bid on mobile devices to -100%.)
Bid adjustments also have the flexibility to work in conjunction with each other. For example, If you knew that you got the best return from from customers shopping within a 5 mile radius of your cake store you could adjust your bid for users in that radius to 150%. Top Contributor Jon has written a great article on this here.
Bid adjustments layer on top of each other, with a multiplier effect. Using our example above, if you had a user on a mobile phone (+20% of original bid) in a 5 mile radius of your store (+50% of original bid) your bid for this user would be worked out like this:
$1.00 x 1.2 x 1.5 = $1.80
The flexibility of using bid adjustments with Enhanced Campaigns means you can tailor your campaign to your company’s individual needs and make your strategy more focused.
Has anyone tried this in their campaigns or have any tips for bid adjustments? Please share your thoughts and tips on this thread!