Budget Matrix, not Bid Matrix.
You've heard of a Bid Matrix, but I have with me something called a Budget Matrix. The reason why this was built is because the client has a set budget of $45,000 per month.
This means, we have to split all the campaigns, and give them all a little bit of love budget wise. But we have the hypothesis that if one of these campaigns gets a full budget day, we might not need to run them again because the impact would be huge.
Think about it. A little bit every day, or full attention on the day we think that campaign drives the most awareness/leads/CR/whatever. I'm going with latter.
So, here it is. On these days of the weeks, we think these campaigns give us the right balance of the goal of that campaign. The goals are quite diverse, and we don't follow the typical marketer goal of "high CTR wins!"
Our goals can be a mix of any of these:
- Conv. Value/Click
- Conversion Rate
- Avg CPC
- Bounce Rate
We don't have a formula for this, like the legendary CPI. So, so far we've been eyeballing the time of day and day of week optimization based on how well it fits with the goal. And it's worked great. We even pause and unpause campaigns on days of week and that's worked very well too.
Now by bringing it all together, we figured out which days of the week these campaigns would do well. Now that it's out of the way, here's what that looks like:
The upper case X means, you can do without it
The lower case X means absolutely try to run this campaign on this day
But here's the problem, and the reason for this post; we have many campaigns (there are more search campaigns, you just don't see them), and only about $1500 per day to spend.
So how would we do it?
We know we're going to end up using Automated Rules to increase/decrease budgets, pause/unpause campaigns.
The search campaigns bring most of the leads during the week, but we want the awareness generated by Display and Video. But again, how are we going to execute it?
I want to pose this question to the community and the gurus within to see how they would do this. I would love that help.
Budget Matrix, not Bid Matrix.[ Edited ]
February 2017 - last edited February 2017
Hi @Mark H,
I am glad to see you are really making a great job with those campaigns. I am not sure whether or not my interpretation of your query is correct, however, here is what I think of that.
By using the *Create rule: Change daily budget* feature under the *Automate* drop-down you can specify separate day of the week budgets for any particular campaign of yours. (A simple example is to raise budget by $10.00 each midnight across 6 days and drop it by $60.00 at midnight on the 7th day. That would take 7 rules to be created for any particular campaign.)
Now as for your overall budget of $1,500 per day, you can distribute that amount across your campaigns based on the table shown above in your post, in regard to any particular day of the week.