How can you manage your display ad budget without overspending?

1 Set clear goals and KPIs

Before you launch any display ad campaign, you should have a clear idea of what you want to achieve and how you will measure it. Do you want to increase brand awareness, generate leads, drive sales, or something else? What are the key performance indicators (KPIs) that will tell you if your campaign is successful or not? For example, you might use impressions, click-through rate, conversions, cost per action, or return on ad spend. By setting realistic and specific goals and KPIs, you can allocate your budget more efficiently and track your progress more accurately.

2 Choose the right bidding strategy

When it comes to display ads, the bidding strategy you choose should depend on your goals and KPIs. Bidding strategies are the methods that determine how much you pay per ad impression or click. Common bidding strategies include Cost per thousand impressions (CPM), Cost per click (CPC), and Cost per action (CPA). CPM is good for increasing brand awareness and reach, CPC is good for driving traffic and engagement, and CPA is good for generating leads and sales. To get the best value for your money, select a bidding strategy that aligns with your goals and KPIs, and monitor your bid performance to adjust it accordingly and optimize your results.

3 Use targeting and segmentation

One of the best ways to manage your display ad budget without overspending is to use targeting and segmentation. Targeting and segmentation are the techniques that allow you to show your ads to the most relevant and interested audiences, based on criteria such as demographics, location, interests, behavior, or keywords. By using targeting and segmentation, you can improve your ad relevance, quality score, and conversion rate, while reducing your cost per impression or click. You can also avoid showing your ads to people who are unlikely to respond or who are already customers.

5 Track and analyze

Finally, you should always track and analyze your display ad campaign performance and results. By using tools such as Google Analytics, Google Ads, or Facebook Ads Manager, you can collect and review data on your ad impressions, clicks, conversions, costs, and returns. You can also use dashboards, reports, or charts to visualize and compare your data. By tracking and analyzing your data, you can gain insights into your strengths and weaknesses, opportunities and threats, and trends and patterns. You can then use these insights to make informed decisions and adjustments to your budget, strategy, and tactics.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?