Why is using the performance targets feature after utilizing the performance planner recommended? what is one way that performance planner helps businesses increase sales?
It is recommended to use the performance targets feature after utilizing the Performance Planner. This practice allows you to monitor targets set in the Performance Planner and to receive alerts and recommendations when a campaign is not on track.
But first, how do you make good use of this performance planner if you do not know What is a performance planner and how it works?
What is a performance Planner?
Performance Planner is a tool that lets you create plans for your advertising spend and see how changes to campaigns might affect key metrics and overall performance.
Using Performance Planner, you can:
- See forecasts for your campaigns.
- Explore outcomes by adjusting campaign settings.
- Understand opportunities in seasonal periods.
- Manage budgets across accounts and campaigns.
Here are some amazing benefits of using the performance planner?
Benefits performance planners?
With the performance planner, you can achieve this.
- See your campaigns’ projected monthly and quarterly performance.
- Get suggestions that can help your campaigns perform better for the same spend.
- Find out how your spend and performance goals are affected if you change your campaign settings.
Looking at the benefits above, you will by no doubt see an amazing use for a performance planner, and how it can affect your business in a positive way.
How can you get the most out of the tool, if you have No idea how the Performance planner works?
How The performance planner works?
To give you the most accurate forecasts possible, Performance Planner takes into account billions of search queries and is usually updated every 24 hours. Performance Planner simulates relevant ad auctions over the last 7-10 days, including variables like seasonality, competitor activity, and landing page.
After running simulations and collecting data, the accuracy of Performance Planner forecasts is measured for running campaigns against their actual eventual performance and machine learning is used to fine-tune your forecasts.
If your campaigns haven’t had enough conversions to create a forecast, but they have enough clicks, you can manually enter a conversion rate to see conversion forecasts.
See the table below to find out if your campaigns are eligible to use Performance Planner.
|Campaign type||Eligible campaigns|
|Search campaigns||Use manual cost-per-click (CPC), enhanced CPC, max clicks, max conversions, target return on ad spend (ROAS), target cost-per-action (CPA) bidding strategies, or target impression share bidding strategies Have been running for at least 72 hours Have received at least 3 clicks in the last 7 days Have received at least one conversion in the last 7 days (if the campaigns focus on conversions) Target impression share campaigns (only) – Have a Search lost IS (budget) of <5% over the last 10 days|
|Shopping campaigns (Smart and Standard)||Have received at least 100 impressions in the last 7 days Have received at least 10 conversions and/or conversion values within the last 10 days Have been active each day with a minimum spend of $10 or more in the last 10 days Target ROAS standard shopping campaigns (only) – Have a Search lost IS (budget) of <5% over the last 10 days|
|Display campaigns (Smart and Standard)||Have not changed bid strategies in the last 7 days Have been running for 7 days or more Have had at least 5 conversions (or 20 clicks for Maximize clicks) and more than $10 in cost within the last 7 days Have not been recently budget-constrained *Not supported for Discovery campaigns|
|App campaigns||Have been running for 10 days or more Have not changed bid strategies in the last 10 days Have received at least 10 conversions in the last 10 days Have not been recently budget-constrained Use app install ads with target cost-per-install (tCPI) or target cost-per-action (tCPA) bidding strategies|
- Have been deleted
- Have been changed to meet the eligibility requirements, but have been running for less than 10 days with the new settings applied
- Are in a draft or experiment state
Performance Planner forecasts conversions based on the conversion types in the “Conversions” column of your Google Ads performance reports. Learn more about the account, campaign, and ad group performance
Performance Planner is also available for a manager account.
The Performance Planner can recommend Campaign-level Target CPA (cost-per-acquisition).
What does a performance planner automatically do?
- Applying bid adjustments to specific locations
- Including or excluding “Google search partners”
- Using “Target impression share” as an automated bid strategy
- Campaign-level Target CPA (cost-per-acquisition)
The correct answer is: Campaign-level Target CPA (cost-per-acquisition)
Performance Planner helps improve return on investment so you can drive more conversions within your target CPA.
It’s a best practice to separate campaigns with different marketing objectives into different Performance Planner plans, so that spend isn’t reallocated between two different marketing objectives. Instead, consider grouping campaigns by marketing goal or budget.
- Learn more here: Skillshop Search Certification
- Last chapter: Increase conversions with Performance Planner
- Sub-Chapter: Take action with Performance Planner
The performance planner is very good for your business, you should learn how to implement it accordingly to get the feature working well for you. Every benfits can be applicable to the usage in every business operation online.
You can apply same to your blog, ecommerce website and business website.
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