Managing Ad Spend Budget Big vs. Small
Managing budgets big or small is a part of the paid media buyer skill tree. And it’s a great skill to hone in on if you are just starting out at your entry level role. In your current role you might be dealing with about $10k ad spend. Or you might be dealing with an account with a larger scale over $50k-$100k ad spend per month. And I wanted to share a few insights I’ve learned managing an account at that scale on the higher ad spend level.
1. Checking in on Spend Daily - When you are managing a budget that starts to dip into +$100k monthly you want to be sure you are checking it daily. You want to ensure that the account is spending on par and not under/overspending for the day. I preferably check in on spend 3 times a day and adjust on how we are pacing.
2. Create Reports to help you manage - If you are sending these reports to the client or viewing them internally with your team, having a well structured report on your KPI’s allows you to see at a high level for both front end and back end metrics. Think of reporting as a check up when you go to the doctors office, as you are going through these reports and performance shifts it gives you an idea on where to start digging.
3. Know how much spend is being distributed throughout the account - Having an idea on what percentage of spend goes into your search, shopping, and display campaigns gives you a guide as to what percentage of spend goes into what campaign type.
4. Familiarize yourself with automated rules & tools - Taking the time to learn these tools such as google editor, automated rules, bidding strategies, and labels can save you a bunch of time when it comes to make quick edits to a big account!
5. Secret Gem - Create an excel tier list of all of your campaigns from your most efficient to your least efficient. Throughout the day if you are over pacing and need to pull back you can pause those inefficient campaigns. You are still spending but you are spending on your highest converters. It’s a small trick but something that I use on my client’s accounts and it works.
