Google Ads is launching a new tool called the Performance Planner. The goal of this tool is to identify the ideal budgets for your campaigns and drive additional conversions by giving you bid and budget recommendations, which highlight how you could maximize one out of three performance metrics: clicks, conversions or conversion value. While this seems over-simplified, the Performance Planner can also make projections based on other adjustments like spend levels and cost per transactions (CPAs). Using the tool, you can easily click on different spending points to see the projected conversion change results. For example, you could see how raising a CPA from $10 to $15 would affect conversion volume. Meaning, keeping return on ad spend (ROAS) and gross profit margin (GPM) in mind, you could A/B test different CPAs within your ROAS and GPM ranges to see how overall conversion rates and conversion values affect your bottom line. Additionally, you can get a higher level view of each campaign’s spend and allocate budgets from there. You also will have the ability to add keywords and get projections on how those additional keywords would affect conversion performance. Show How does the Performance Planner work?There is a help article available that explains how the Performance Planner has been developed and engineered to provide the most accurate forecasts as possible. The help article outlines the algorithm Performance Planner uses: So how do you use the new Performance Planner tool?To be clear, there are a few requirements. Below is an excerpt from the Google support page: 1. Review the RequirementsIf these seems too labor intensive, don’t discard the tool just yet. When you’re creating the plan, the tool will only let you select “forecastable campaigns” to add to your plan. 2. Create Your PlanNote in the screen shot above, you have the option to select a target. While this is an optional field, it is recommended that you include this in your plan. The “Target” you would include is your CPA or ROAS goal. If you disregard this field, Google’s calculations will max out cost in order to max out your key metric, meaning that your CPA or ROAS goals will not be taken into account in the provided projections from Google. 3. Download Your ResultsThe final step is to download your results much like you would when running a script in Google Ads. You can either download a Plan Summary into a .csv file in
Excel that lists metric increases and decreases by campaign. Look out for our next post on the benefits and cautions when using the Performance Planner. Sources:https://www.ppchero.com/guide-to-google-ads-performance-planner/ What can the performance Planner recommend Google Ads?The Performance Planner can recommend: Campaign-level Target CPA (cost-per-acquisition). Performance Planner can recommend your target CPA at the campaign level. It can help improve ROI so you can get more conversions within your target CPA.
What is the use of Google Display Planner tool explain it?The Google Ads Keyword Planner tool is a useful resource for building strong keyword lists and helping to get your PPC campaign off to a running start. A free-to-use feature within Google Ads, its tools for generating keyword ideas and bid estimations can help you plan your marketing strategy.
What does performance Planner automatically do?What does performance planner automatically do? It provides you automatic forecasting about your existing campaigns that how they will perform in the future.
What is the purpose of Google Ads?Google Ads is a product that you can use to promote your business, help sell products or services, raise awareness, and increase traffic to your website. Google Ads accounts are managed online, so you can create and change your ad campaign at any time, including your ad text, settings, and budget.
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