As a leader in your organization, managing a team and budget is par for the course. But in the world of online advertising, tracking your ad spend budget is easier said than done. All too often, unknown variables can lead to bottom-line surprises for marketers. Here are three tips you can use so you stay in control of your ad spend budget—and not the other way around.
1 – Use an advertising budget template
But not just any one. Using our ad spend template can help you track your ad spending to ensure you stay within your budget—or even under it—each month.
You can customize this advertising budget template based on the platforms you use. The built-in summary report on the right side of the spreadsheet automatically tallies your ad spend as you update the information, making it a real-time tool worth your while.
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2 – Crunch the numbers—and use them to your advantage
One of the upsides of online advertising is that you have data right at your fingertips. Use these easy-to-access numbers that demonstrate meaningful progress on your campaigns, such as clicks, click-through rates and impressions, to create reports so you can dig into the ever-important matter of ROI. Those numbers, in conjunction with your ad spend, help supply you with critical data for your analysis.
Then, ask yourself: Did we do better or worse with our ad spend this month? What’s working, and what isn’t? How can we boost our performance moving forward?
3 – Communicate and adapt to maximize results
Now that you’re armed with critical data, don’t keep it to yourself. Set up regular meetings with your key team members to discuss marketing activity performance. Then, make any adjustments necessary so you can allocate additional funding to the best-performing categories—and dump the ones that aren’t helping you reach your goals.
Need help managing your ad spend budget or creating a custom advertising budget template? Contact us today to set up a complimentary consultation.