Why Should Your Business Use Performance Planner?

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Advertising is an extremely important part of a business’s success, especially digital marketing.

By properly embracing advertising and putting the right time and effort into it, a business can promote itself to a much wider audience and get new customers. 

This is especially useful for small businesses that have limited budgets because online advertising can be an effective way to compete with large companies and really get in touch with customers.

But how can you organize an effective advertising campaign?

Google’s Performance Planner tool is one of the best ways to manage your digital marketing and advertising.

It allows you to create plans for how (and how much) your business will spend on advertising, as well as give you ideas on how changes to your plan could impact important performance and metrics.

Why is all this going to be useful to your business, though? Why should your business use Performance Planner?

We’ve got all the answers for you. In our informative guide below, we’re going to clearly explain why your business should use Performance Planner.

Plus, we’ll properly explain what Performance Planner is and how you can set it up – and understand its results.

What Is Performance Planner?

Performance Planner is a tool that Google offers, specially created to help individuals and businesses create a scheme for their digital marketing and advertising.

It does this by allowing them to create plans for how they will spend their advertising money, as well as how much they should be allocated to that area. 

On top of that, Performance Planner can give them an idea of how small and big changes to their plan might affect things, such as the general performance of the business and important metrics.

This forecasting can be especially useful because it can give your business an idea of how you can grow and change, while still maintaining success. 

In fact, forecasting can be used before you even begin your digital marketing plan.

Performance Planner allows you to create your plan and then see how it might perform should it be implemented.

This reduces the risk a lot because it can warn you of potential failure before you implement a digital advertising plan. That way, you can avoid the plan, and go back to the drawing board.

Why Should Your Business Use Performance Planner?

There are plenty of reasons that your business should use Performance Planner.

The Google developed tool uses machine learning to build its understanding of advertising success and failure, analyzing loads of search queries from its billions of users all over the globe.

With that information at hand, Performance Planner can:

  • Give your business an idea of how you should allocate your budget toward digital marketing, and how much your bid should be. For those who don’t know, a bid (in terms of marketing) is the maximum amount of money that an advertiser will pay for every click that one of their advertisements gets.
  • Show your new advertising opportunities during specific periods of change, giving you a seasonal look and adjusting to how audience attitudes change across those times.
  • Recommend the best courses of action for your digital advertising, backed up with machine learning research.
  • Test before trying. With Performance Planner, it can give you an idea of all the potential outcomes that could happen if you implement your advertising campaign, allowing you to see which ones could succeed and which ones could fail before you even apply them.
  • Give you information that will let you create digital advertising campaigns that are directly tailored to how your business is going to spend on advertising. Whether you’ve got a large budget or a small budget, Performance Planner will help guide you on the best way to use your money.

How Can Your Business Use Performance Planner?

How Can Your Business Use Performance Planner?

Now that you’ve seen all the benefits of using Performance Planner, we’re going to look at how you can get started with it.

Unfortunately, though, your advertising campaign will need to meet some criteria in order for Performance Planner to work with it.

There is a range of criteria to meet, but we’re going to look at some of the most essential.

For one thing, your business’ advertising campaign needs to have been running for 72 hours or more.

If it’s been running for less than this three-day period, your campaign won’t be eligible. 

Additionally, your campaign needs to have received over 4 clicks or more in the past week.

If your campaign has had 3 or fewer clicks from users across the previous 7 days, then it isn’t going to be eligible for Performance Planner.

On top of that, your campaign needs to have received at least 1 conversion in that time, too.

What is a conversion? It’s the term for when the user who has received your marketing message properly responds to what your ad has been asking (for example, call your business or buy a product).

Speaking of conversion, your campaign can use Performance Planner if it’s been using target CPA.

This stands for Cost Per Action, which is when you only pay when the ad causes a conversion.

Alternatively, though, you are eligible if you’ve used CPC.

This is Cost per Click, where you pay for every time a user clicks the advert, regardless of whether there’s a conversion.

How Do You Understand Performance Planner?

Performance Planner will show your results in a variety of ways.

A metric comparison table will show you how your spending is working and how the success might grow over time, while a graph will show how your campaign is performing – and how it is forecasted.

When you’re beating forecasts, the campaign appears over the blue line.

Final Thoughts

Google’s Performance Planner tool is essential to businesses because it allows them to plan advertising campaigns and forecast future success.

For more ideas on how to use Google’s Business Planner, see Peter’s article inside Wealthy Affiliates.

To learn more about Wealthy Affiliates, read How Does Wealthy Affiliate Really Work?

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