A budget is critical in managing the calories you eat, your personal finances or the line item budget of your organization. You are never completely sure that you are within budget on a daily basis. Not so with Google AdWords where you can set a daily budget.
But first about budgets in food and finances:
- Calorie Counting: Unless you enter every food you munched into apps like MyFitnessPal you are eating more than you planned to eat. And that goes for all calorie management systems including Weight Watchers recently in the news with Oprah getting involved. You have to do something – constantly.If you do not actively watch your calories -you go over budget.
- Under and Over budget in organizations: Everyone can recall the number of times you have found that you have exceeded the budget on a certain line item while money remains unused in other line items. Unless you have an easy process to reallocate budgets you just stop doing long term impact things because the budget has run out. You stay with the urgent and try to fight fires as best you can with the money left on that line item budget. Here you have the paradox of overspending on some items and under-spending in others.
- Personal finances is over the budget: With the holidays and shopping most people will be over-budget despite all kinds of resolutions. You cannot program or persuade your credit card to not go over the $20 dollar budget you had set for each gift. And you don’t want to be a scrooge over the holidays- so you go over budget. The budget review will take place only in December and January when the credit card bills start arriving.
Not so with Google AdWords and most other digital and social marketing platforms. You set a daily budget for AdWords and you can be sure that there are no surprises. Your ads stop appearing if your daily budget is exhausted but there is no risk of exceeding your budget.
You may be missing out on showing your ads if your budget is depleted.But the comfort of knowing that you will be within the daily budget is like having some warm soup on a cold day…
A monthly review will let you know your impression share. Impression share is the number of times your ads were shown compared to what was possible if you had a bigger budget. Competing products might have taken over some of the impressions and depending on the results you see of your campaign – you can change your daily budget at any time.
Turning back to calorie counting – if you have exceeded your calorie count for the day there are two rather tough options viz. 1) Stop eating or 2) Get on the treadmill. About StratoServe Digital Marketing Services.