Monitor your ad spend and budget, ensuring that you stay on track and avoid any nasty surprises
Find reporting templates for all these related data sources
What’s this?
This template helps you stay on track with your online advertising budget. Basically, it compares two values, ad spend and ad budget.
Ad spend is exactly what it sounds like: the amount of money you spent on a given campaign. Ad budget is the amount of money you budgeted for said campaign.
To make sure you don’t go over your budget or don't underspend it, you need to monitor your ad spend closely. Without this template, you’ll have to review your spendings on each ad platform you use, one by one.
Let’s say you use Facebook Ads, Google Ads, and TikTok Ads. Ideally, every day you should access all the three platforms to check what you spent. Do you have the time to go through such a lengthy process?
Very probably, the answer is no. So, you’ll be happy to know that our template does all the hard work for you, gathering data from all platforms you use into a single dashboard.
What problem does it solve?
If you have an online business, chances are that you’ve already heard of Google Ads. This platform has a pay-per-click or pay-per conversion model. You can choose one of the two, but most beginners end up using pay-per-click because there are requirements to make you eligible for pay-per-conversion, including having already a certain number of conversions recorded in the last 30 days.
Google Ads lets you set a monthly budget and it won’t charge you more than the budget you set. That’s good news, but what does it mean in terms of clicks or conversions?
Let’s say you use the pay-per-click model and set a monthly budget of $100. You used Google Ads’ smart bidding features, so it automatically sets the best cost per click for you. Let’s say you never monitored the campaign.
15 days after launching the campaign, you get a notification from Google Ads saying that your ad is no longer shown, because you’ve finished your budget. Been there, seen that ;)
This is a terrible surprise you could easily avoid by monitoring your spendings daily. After a week, you would have started noticing that your budget could finish too soon, so you’ll have lowered manually the cost per click. This template** lets you monitor spending data in real time**, to prevent disasters like this one.
How does it benefit my business?
You spend a good deal of money on online ads, so you’re definitely expecting positive ROI. And of course, you want to double down on the platforms that are giving you a good ROI, and stop investing on those that are only wasting your money.
Let’s say you have two ad campaigns, one on Google Ads and the other on Facebook Ads. You spent the same amount of money on both campaigns. But your report shows you that:
- On Google Ads, you’ve already spent 60% of your budget and only have had a thousand clicks;
- On Facebook Ads, you’ve only spent 10% of your budget and you already have 13,000 clicks!
With this data on hand, making decisions is easy. You can choose to invest less money in the lower-performing channel or device to shut it down completely, focusing your efforts and investment only on the highest-performing one.
