When it comes to your business’s budgeting needs, there are fortunately numerous tools you could implement. One of these could be the Google Performance Planner, and today, we’ll be looking at what the Performance Planner is and how it could serve your business and its overall marketing budget.
What is the Google Performance Planner?
The Google Performance Planner is a unique tool designed for businesses operating Google Ads. The tool analyses billions of advertising market metrics to provide unique market condition insights to businesses and marketers. This, in turn, can help the brand to customise and personalise its marketing approach and strategy.
Notably, the Performance Planner is a tool that can be used across many different marketing campaigns. Moreover, its regular updates ensure that it continually provides the most effective and valuable content for businesses using it.
Which Marketing Campaigns Can Be Used With the Performance Planner?
If your business is to get the most from the Performance Planner, it’s crucial to remember that metrics are key. Without a relatively generous amount of data to work from, the efficacy and the performance of the Performance Planner will be limited. To this end, while you can manually input predicted data, conversions, and the like, the Performance Planner will only do so automatically once your campaigns have reached a certain value.
The Performance Planner can be used with almost any plan. The only exception to this is for campaigns that have been deleted, are in the draft stage, or have been running for fewer than ten days since being created or otherwise edited.
How Does Google Performance Planner Work?
Before we can look any further, we must consider how Google’s Performance Planner software works. The tool works by scanning billions of search queries. Google updates its Performance Planner tool on roughly a daily basis, although this can vary slightly from day to day. The tool can thus simulate Google advert auctions for the past week, covering many aspects, including landing page statistics, competitor activity, seasonability, and the like.
When to Use the Tool?
At this point, you might be wondering: when should my business use the performance planner tool? The performance planner tool is commonly used throughout the year to analyse and assess marketing campaign successes and highlight any areas of opportunity to drive greater conversions or cut costs for the campaign. However, businesses can also use the tool to understand seasonal variations and opportunities, along with sudden spikes or troughs in demand for a product or service.
Ideally, it would help if you allowed your advertising campaign to run for a generous period before attempting to use the Performance Planner tool. The tool is most successful when it has a larger quantity of data to work with. A larger data pool allows it to generate the most accurate forecasts; however, this often may not be possible for new or smaller campaigns. To this end, the tool is predominantly used for established campaigns. Marketing managers can still input manually predicted conversion rates, however, if they want to use the tool without the automated forecasting functionality (although it should be noted here that manually entering data may result in less reliable forecasts).
Creating a Plan With Google Performance Planner
Creating a plan with the Performance Planner insights is easy. Google has specifically input this functionality into their Google Ads manager account.
To create your first draft plan, head to Performance Planner from your Google Ads account and select “create a plan.” This will prompt you to select which marketing campaigns you want to include. For the best results, you should include campaigns with a similar overall goal.
Once you have created your draft plan, you can view forecast graphs relating to your chosen campaigns. These forecast graphs can offer a generous selection of valuable data, and they will cover all of the metrics you selected during the plan creation stage. The “Compare” functionality also allows you to directly analyse the forecast and current metrics based on the inputted changes, helping you make the most from your advertising campaigns.
Now, all that’s left to do is review your chosen campaign adjustments and, if they seem appropriate for your business, implement them! Implementing a new plan is, once again, effortless; head to the Performance Planner and select the draft plan that you want to implement. Then, select the download icon from the top right corner of the screen, and choose “Ads Editor File.” Then, follow the provided instructions to import the downloaded file into the Google Ads Editor, and you can then implement that plan to improve your advertising campaign’s conversions overall.
Benefits of the Performance Planner Tool
There are numerous benefits associated with using the Google Performance Planner tool. Of course, there’s no doubting that the cost for running a Google Ads campaign can add up over time. To this end, marketers must take the time to consider different opportunities for their marketing campaigns. After all, every marketing campaign is different, as is every business’s marketing budget, goals, and the like. To this end, the performance planner can offer precious insights into these topics. Some of the Performance Planner’s primary benefits include the following points:
- The Performance Planner tool allows users to quickly and easily see the projected budget for their advertising campaigns based on either monthly or quarterly campaign performance.
- Following the Covid-19 pandemic and the disruptions it brought about, businesses can now use the Google Performance Planner tool weekly or fortnightly, providing new data insights into the current market conditions for businesses struggling with rapid market changes.
- Performance Planner provides insights and advice so advertisers can make the most of their marketing campaigns without changing the final budget for the adverts.
- Advertisers can run numerous projections and estimates for their advertising campaign statistics with the Performance Planner, allowing businesses to develop a tailored approach to advertising based on different, customised ad campaign settings.
These are just a few of the benefits associated with using the Performance Planner tool. Notably, Performance Planner analyses billions of metrics every week, so the opportunities for customising your marketing and advertising campaigns are almost limitless.
Learn more about the performance planner here.
Today, we’ve taken a look at what the Performance Planner is and how it could be an excellent option for your business’s management needs. So, don’t compromise; to learn more about the performance planner and the benefits that it could offer, get in touch with our team today, and we’ll do our best to help you find the optimal solution for your needs!
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