What can the performance planner assist you with? Google Ads Performance Planner

This blog is a complete guide to Google Ads Performance Planner, a powerful tool that can help businesses improve their return on investment in Google ad campaigns. This allows users to understand key metrics and predict future conversions, clicks, and costs based on current analytics.

Sheema Unnisa

APR 23, 2024

Performance Planner is a potent tool in Google Ads that lets you simplify the process of maximizing the impact of your ad campaigns through various operations. This tool allows businesses to improve their return on investment on your ad campaigns.

In simple words, you can drive more conversions with the same ad budget by efficiently utilizing this tool. Here in this complete guide, we are going to explore what can the performance planner assist you with and how can it efficiently forecast campaign performance.

What can the performance planner assist you with

Google Ads performance planner can assist you in various things, including:

This tool allows you to predict future conversions, clicks, and costs based on current analytics such as spend levels and return on investment targets.
It will help users understand the changes in campaigns through detailed key metrics, suggests a certified Google ads agency in Bangalore.
It will allow you to find the best way to distribute your ad budget across various campaigns, minimizing the risk of loss.
This tool can also help you identify various opportunities before they even appear and help in relocating the budget to improve the overall performance of the ad.
With its vast database, this tool takes into account various seasonal changes and market trends to forecast the future performance of the ad, allowing users to pre-plan for high-traffic periods such as holidays or sale events.
This tool also provides with what-if analysis which will allow users to explore various hypothetical situations and their potential outcomes. This can help in making informed decisions using the tool’s various variables.

How can performance planner serve your business?

By understanding what you can do with the performance planner, businesses can manage their ads better and significantly increase their profits. Some of the key factors that this tool offers for businesses include:

This tool helps in determining the budget distribution across various campaigns. This can allow businesses to maximize their return on investment.
Businesses can also forecast monthly and quarterly performance of the campaigns which allows them to mitigate the risks and invest more thoughtfully.
It helps in adapting to diverse changing market trends which allows businesses to stay up-to-date with the latest market trends to understand them better.
It allows businesses to test various scenarios before actually implementing them to see the potential outcomes without affecting the current campaign.
It also provides timely recommendations on how to adjust various bids and budgets across various campaigns to improve the overall performance of the business.
Businesses can set targets for clicks, conversions, or impressions. This tool will give various guidelines to accomplish them.

Why should your business use performance planner?

We have already talked about the major benefits of using the Google Performance Planner tool, let us now discuss how businesses can make informative decisions to increase their returns on ad budget spent. This is essential no matter what industry your business serves, here are the impactful ways

It allows businesses to distribute their budget across several ad campaigns and suggests ways to maximize the return on investment.
You can forecast monthly and quarterly performance which will allow you to set more realistic expectations.
Businesses can test 2-3 ad campaigns and a performance planner will assist you in predicting the performance of the ad, which can be used to find the ad that can perform well.
You can benefit from the predictions of seasonal changes such as festivals, events, and the latest trends that can help you modify your ads and increase the return on investment.
Businesses can also set targets for clicks, conversions, or impressions which can help in managing Google ads better.

How to use Performance Planner in Google Ads

Eligibility criteria:

Google Ads Performance Planner comes with eligibility criteria and a few steps to activate it:

You need to have running and active Google ad campaigns to get an option for a Performance Planner.
Your ads must have at least 3 months of previous data for accurate predictions and forecasting.
The ad should be active and the budget should be consistently spent on the ad for at least the last 3 months.
It only supports a few ad campaign types such as search, shopping, and display.

Activation steps:

Sign into your Google Ads account using your Gmail account.
Go to the tools and settings menu, and under the planning sub-menu select Performance Planner.
Select the ad campaigns that you want to plan for.
Sequentially proceed through the whole process and create a plan based on the data goals you have entered.

Once your ad campaigns are eligible and you have followed all the activation steps, you can start using the tool to optimize your ad campaigns.

Basic understanding of Google Ads, how to navigate the tool?

Navigating the Interface

1. Campaigns Tab

Function: Select the ad campaigns from your existing list to include in your plan.

Graphs: Various graphs show performance projections for selected ad campaigns.

2. Forecasts Tab

Function: Analyze the performance of the forecasts based on your inputs.

Graphs: Shows click, cost, conversion forecasts, and more.

3. Settings Tab

Function: Adjust the settings of the ad campaign like date range, target CPA, or ROAS .

Graphs: Updates projections based on implemented or selected settings.

4. Download Plan Button

Function: Download your plan’s data for offline analysis.

Graphs: N/A

Understanding the Basic Graphs

1. Performance Over Time Graph

Displays: Trends over the selected period.

Use: Monitor changes and adjust strategies accordingly.

2. Key Metrics Comparison Graph

Displays: Side-by-side comparison of clicks, impressions, etc.

Use: Assess performance against different metrics.

3. Budget Allocation Graph

Displays: How the budget is distributed across campaigns.

Use: Optimize spend for better ROI.

Maximizing the Tool’s Potential

Regularly keep your plan updated with current market trends and business goals.
Utilize ‘What-If’ scenarios to test different budget and bid strategies to see potential outcomes.
Analyze historical data by using past performance data to make future decisions.
Monitor competitor activity to stay aware of competitor bids and strategies to adjust your plan.
Use machine learning insights and take advantage of Google’s machine learning for better forecasting .
Focus on conversion metrics to prioritize metrics that align with your business objectives.
Use various recommendations to implement Google’s automated suggestions to improve performance.

Conclusion

All in all, the Google Ads performance planner is a must-have tool for any kind of business who are working with ads and are looking to increase their ad performance and return on investment. As discussed above, what can the performance planner assist you with Google Ads campaign including it can help businesses make decisions with less associated risks and costs and allows users to distribute the funds across various ad campaigns. The huge database of the performance planner will allow you to predict the future of the ad’s performance which can help in budget allocation.

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