Data has become the key to business success in the technology and digital era.
These numbers give you a holistic view of the performance of your advertising campaigns. Google Ads is one of the most popular platforms today.
In May 2019, Google released a tool called Performance Planner. Businesses are quick to take advantage of it to optimize their business operations.
So, how can Performance Planner help your business?
Continue reading this article to find out!
An Overview Of Performance Planner
One of the most useful Google Ads tools is the Performance Planner. It allows users to forecast the efficiency of Shopping, Search, and Display campaigns based on advertising budget.
Performance Planner’s calculation range is wide when scanning up to billions of search queries. They will update once every 24 hours.
This quick update will help users monitor and recognize performance changes when different methods are applied.
Data and research from Google show that the conversion rate for your campaign can increase by 43% with the support of this tool.
In addition, Planner also allows users to control the spent budget. As a result, you will have a more effective plan to optimize efficiency metrics.
The three main elements that this tool can present to the user are:
- Past index: The watch date range can range from 30 days to a specific date.
- Current index: Current conversion rate and clicks.
- Search queries: Keywords that users are searching for the most.
How Can Performance Planner Serve Your Business?
Your business will get a lot of benefits when using the Planner tool. Let’s find out more information about them below.
What Are The Uses Of Performance Planners?
As noted above, this incredible Google Ads tool helps you get an overview of your campaign’s key, overall metrics, and performance. You can also identify campaign changes after the adjustment.
Through this tool, businesses can:
- Adjust campaign settings to uncover results.
- Manage budgets for each campaign and across different accounts.
- Access and make predictions for campaigns.
- Understand business opportunities for seasonal periods.
What Are The Benefits Of Performance Planners?
Performance Planner is a tool capable of calculating billions of search queries to predict the future. Indicators will be updated every 24 hours to ensure accuracy.
This tool will trigger relevant ad auctions for seven to ten days. Some variables include landing pages, competitor activity, and seasonality.
The technology behind it is machine learning to fine-tune forecasts for businesses. It also helps measure the quality of the tool after data collection and simulation run.
The efficiency of measured campaigns improves daily based on actual data.
As a result, Planners bring the following benefits to businesses:
- Review your campaign’s outcome and data by month or quarter.
- Suggest ways to improve campaigns while still optimizing costs.
- Identify possible changes to performance and spend goals if campaign settings are changed.
Requirements To Use The Performance Planner
There are different campaigns your business can launch. Some of them include:
Among them, Search campaigns are one of the most popular. These include the following metrics:
- Manual cost-per-click (CPC).
- Max clicks.
- Enhanced CPC.
- Max conversion value.
- Max conversions.
- Target cost-per-action (CPA) bidding strategies.
- Target return on ad spends (ROAS).
- Target impressions share bidding strategies.
Other campaigns include other metrics such as:
- Target cost-per-install (tCPI).
- Search lost IS (rank) column.
- App engagement ads.
- Target cost-per-action (tCPA).
The essential requirement to use the Planners tool is to determine if your campaign is eligible. Please refer to the section below to learn more.
Your campaigns are considered eligible if:
- They have been running for at least 72 hours.
- In the past seven days, the campaign received at least three clicks.
- It should have achieved at least three conversions in the last seven days for conversion-focused campaigns.
- Search campaigns using enhanced CPC, maximize clicks, manual CPC, target CPA, or maximize conversions bidding strategy.
Otherwise, your campaigns will not be eligible if:
- They have been deleted.
- They are in a draft or experimental state.
- You are not using a target CPA or manual CPC for the campaign.
- You changed the asset to meet the eligibility conditions but have less than ten days of runtime.
How To Use The Performance Planner Tool?
The first step to using the Planners tool is to create a Planner. Specific access steps include:
- Sign in to your business’ Google account.
- Click the Tools and Settings icon.
- In the drop-down menu, you will see the Planner icon.
Then, click the plus sign to create a new Planner and select the campaigns you want to analyze.
For the earliest and most accurate forecasts, choose campaigns with similar goals. Once you’ve created a Planner, start adding key metrics and date ranges to your spending forecast.
Try out a variety of scenarios to help Google Ads identify the optimal growth opportunity.
Some notable metrics are conversion rate, conversion value, and clicks. Alternatively, you can select the period or date range you want to see.
These options will help businesses determine how long it takes to reach their maximum conversion rate. It makes planning for increased performance easier.
The histogram of this tool is a blue forecast line. It shows the current status of the campaign, like Average Conversion Rate and CPA, as well as its optimal position.
If your position exceeds this line, your campaign is performing well. On the contrary, you will need to make some adjustments to reach the end goal.
Please refer to the following video to better understand the process of using this Google Ads tool.
If you have any questions regarding Google Ads analytics, keep reading below.
Why Should You Use Performance Planners Monthly?
Businesses should use this tool monthly to get the best overview of campaigns. It allows you to determine your optimal bid and average daily budget allocation.
The goal of this tool is growth in conversions for any future spending scenario.
However, if your business is affected by market changes, plan weekly instead of monthly. Short forecasts give you more flexibility.
How Does A Performance Planner Improve Business Sales?
Performance Planners use seasonal trends, auction data, and other metrics to determine how your settings changes will affect the goal.
As a result, you can save a lot of time guessing and preparing a plan. With a spend scenario, this tool suggests how to maximize conversion rates.
What’s The Best Practice For Using Performance Planners?
The best way to use Performance Planners is to separate campaigns with different marketing goals into other Planners.
This method ensures a clear distinction between spending streams so that there is no confusion between two different budget and marketing goals.
In conclusion, how can Performance Planner help your business grow?
The tool collects and displays essential data related to seasonal trends, auction data, and other metrics. As a result, businesses can make predictions, plan more accurately, and track changes.
Once this data is in place, your ad campaign’s conversion rate and performance will increase rapidly. As a result, businesses can thrive.
With all these features, you won’t want to skip this Google Ads tool if you’re going to increase sales in the future.