If the planning of the advertising budget has always involved some uncertain bets, that of the year 2021 seems particularly complex. In fact, the Macedonia Phone Number List Covid-19 crisis has impacted the economy in an unprecedented way and has generated more rapid and unpredictable developments than ever. Google statistics To meet the challenges of a future marked by uncertainties and seize the opportunities of this new year, it is necessary to forge a posture that is flexible and responsive . Here are some tips to optimize your advertising spend in 2021 . To fix objectivesOne of the main hurdles companies face in budget planning is uncertainty about the real utility of planned spending. Indeed, if certain marketing operations, by their situation at the end of the conversion tunnel, promise a high return on investment , others such as notoriety campaigns are, in essence, less income-generating: it is therefore sometimes difficult to assign them business objectives.
Look to the futureStatistics from past years have long, and rightly so, served as a basis for predicting spending in the coming year. However, since 2020, this constant between past and future seems shaken. What was yesterday may not be tomorrow. In addition, the economic instability of 2020, aggravated by the difficulty for companies to react to the unexpected, makes it an unrepresentative year in terms of performance. The solution ? Look forward . In other words, it’s about predicting what 2021 has in store for us. What is the current situation in your market ? From your company ? What are the emerging trends ? What are the requests made by Internet users in your industry?
Look To The Future
google performance plannerTo help you with your budget predictions, Google has developed a performance planner . This tool can predict the status of your key performance indicators up to 18 months in advance , across all of your Google accounts. Enough to provide you with sufficient data to establish a provisional budget as close as possible to future reality. What does the evolution of CPCs reflect on your different keywords? Of course, answering these questions is not child’s play and requires a certain amount of analytical work.
Be flexibleWhile budget agility is already the watchword for many digital advertising players, some advertisers used to favor a fixed advertising budget allocated to each lever. It will therefore be time for them to consider some changes, since the year 2021 seems to call for more flexibility .In view of the dazzling changes linked to the acceleration of digital uses, it will be necessary to reassess the distribution of your budget more frequently than normal, for example every week instead of every month. Whether it’s sponsored links on search engines or social media advertising , most major advertising platforms offer highly accurate performance metrics that will help you identify which ads to allocate more budget for, and the ones you can do without. This agility strategy will help increase your return on investment and boost your performance.
To Fix Objectives
To deal with this problem, it is essential to treat all of your ad spend as an investment . To do this, each expense considered must meet clear and achievable objectives , whether they are conversions, engagement or lead acquisition. It is also necessary to design your marketing actions as an interconnected ecosystem , in which each lever contributes to the success of another. This way, you’ll be able to assign concrete business goals to each of your spend, regardless of what stage of the buying journey it focuses on.
It is possible to bet on automation to maximize your chances of conversions and thus promote the achievement of these objectives within the limit of the budget envisaged, for example thanks to the bidding strategies target CPA (cost per acquisition) and target ROAS ( return on ad spend). In order to support your budget planning with decision-makers by presenting them with forecast results, do not hesitate to use the auction simulators made available on the Google Ads platform.
In summary, the planning of advertising budgets for the year 2021 will be placed under the sign of flexibility , continuous optimization and confidence in the future . This strategy will allow you to adopt a posture conducive to new opportunities, while reducing the risks associated with the uncertainty that hangs over the present times. Are you looking to put in place an efficient acquisition strategy in line with the current challenges of the market? Contact us .