Allocating a budget
When it comes to your first paid campaigns, allocating a suitable budget that ensures representative results is key. Whether you spend £10,000 a day or £10 a day here’s how to get the most out of your budget.
Let's breakdown how you might distribute your budget:
- Begin with a testing phase: Dedicate a segment of your budget, approximately 20%, to trial various ad formats, audiences, and messages. This will provide you with useful insights to refine your campaigns in the future.
- Concentrate on successful campaigns: After identifying high-performing campaigns during the testing stage, allocate a larger chunk of your budget, about 50%, to expand on these campaigns.
We’ll talk later on about how an agency can save you time and money when getting started with your paid ads campaigns
- Set aside for continuous optimisation: Reserve a portion of your budget, roughly 20%, for ongoing examination, modification, and improvement of your ads to guarantee peak performance. We suggest reviewing your ads regularly to find out what responds best to your audience.
- Maintain a contingency: Finally, hold back a small slice of your budget, around 10%, as a buffer to address unexpected events or to try out emerging strategies.
By adhering to this budget distribution strategy, you can ensure your initial £10,000 is effectively utilised to maximise efforts and attain your objectives.
Remember, the secret to success lies in strategic channel selection, exhaustive testing, and budget distribution. With planning and optimisation, startups can utilise paid ads to attract and retain devoted customers, laying the groundwork for growth in the future.
Choosing the right channels
As you begin on your journey with paid ads, it's crucial to choose the most appropriate advertising channels that are in line with your business objectives and appeal to your target audience. During the initial testing phase, Google and Meta are particularly recommended due to their extensive targeting options and a broad range of campaign choices.
Prior to making a decision, it's worth asking yourself the following questions:
- Do potential clients search for my product or service as part of a purchase decision?
- Where is my target audience likely to be found?
Why an agency is key to maximising your (ROI)
Working with a PPC agency, such as a Google Partner can help you save money on ad spend and make more from that ad spend, here’s why:
- Save time and money during the testing phase
During the testing phase you may have a great idea of channels you think will perform best for your business, or you may have no idea at all, both of which are fine. By working with an agency you will receive guidance and support backed by industry knowledge, experience and statistics from your competitors. Rather than conducting hours of research and development yourself, an agency can recommend the best ways to try and test your strategy, whilst also advising you on what to avoid. This can give you a great head start based on knowledge and experience whilst saving you time and money, which can be vital for startups and businesses with little paid PPC experience.
- A breadth of experience
Working with an agency gives you a headstart based on knowledge and experience that has built up over years of working with our clients and for ourselves. An agency will most likely have experience working with clients in your industry and will have appropriate research methods to ensure your budget is distributed strategically. They can advise you on the channels you choose to distribute your budget in, what type of content you produce and the ideal budget you should be using.
- Learn from our mistakes
Years of experience come with mistakes. When you have been in the business for a long time you often have many learning curves that result in a foolproof strategy. At Influx our team has been conducting paid advertising campaigns for over a decade.
In conclusion, spending your first £10,000 in paid ads is not just about allocating the funds but about being strategic with each step. It's about starting with a testing phase, focusing on successful campaigns, setting aside funds for ongoing testing and of course continuously optimising to maximise your returns.
Remember, the whole process requires careful planning, testing, and strategic budget allocation. By following these steps, businesses can use paid ads to their advantage.
As experts in Lead generation and paid ads, our mission is to help your business grow. We can provide our services to take complete control of your process, or we can create a tailor-made package to integrate with your existing resources. We develop data-informed strategies, constantly monitoring and optimising your ads for profitable sales and leads.
If you are looking for support with your paid ads strategy or are looking for some assistance with your marketing strategy then get in touch.