Before diving into budget allocation analysis, it would be helpful to set up a dashboard with your desired view. To do this, you can utilize several settings:
1. Define the scenario for budget optimization
You can view the current scenario used for budget optimization here:
To make changes, simply click on this block. A flyout window will appear, allowing you to make several adjustments:
Default settings are applied for the budget optimization scenario. When you first see the dashboard, you can already gain inspiration and explore the scenario settings on your own as the next step.
1. Setting #1: What you are optimizing for. Here, you can decide whether the results of the Budget optimizer should be calculated in order to achieve:
'More revenue' or
'More conversions'.
The choice of the option strongly depends on the specific strategy you have in mind.
2. Setting #2: Ad spend target. Here, you can decide how you would like to modify your budget:
If you want to spend more, simply move the slider to the right and select the appropriate percentage of change.
If you want to spend less, simply move the slider to the left and select the appropriate percentage of change.
3. Setting #3: How should the redistribution of ad spend be limited? Here, you can decide the scope of budget allocation:
'Within channels' means that the budget will be allocated between different campaigns within specific channels.
'Within data sources' means that the budget will be allocated between different campaigns within specific data sources.
'No limit on redistribution' means that the algorithm will allocate the budget as effectively as calculated across all possible properties, including channels and data sources.
The results of the Budget optimiser suggestions will vary based on the selected strategy. For example:
If you want to see budget optimisation suggestions limited to allocation within channels, such as 'Email marketing channel' and 'Branded search channel', you can select 'Within channels'.
If you are looking for inspiration regarding budget optimisation within the context of data sources, such as allocating budget within Google Ads data source and Facebook Ads data source, you can choose 'Within data sources'.
If you want to explore the full range of possibilities for budget allocation between all channels in a custom grouping and all used data sources, you can select 'No limits on redistribution'.
Once you have selected a scenario that you prefer, simply click on the 'Update scenario' button. This will initiate a recalculation of the budget optimisation results.
2. Select the date for analysis
You have the flexibility to choose any available date for analysis. Simply click on the timeline dropdown at the top of the page, which will open a calendar. From there, you can select the desired date for analysis:
If there is no data available for a specific date, that date will be marked as grey in the calendar and cannot be selected. This can occur, for example, for dates prior to when the Budget optimiser configuration was set up and activated.
Please note that there is a predefined lookback window, that is set when the Budget optimiser configuration is created. In the screenshot above, the lookback window is set to 30 days, as indicated in the caption next to the calendar dropdown. This means that when a date is selected, such as August 31st, 2023, the algorithm will analyze the budget spend parameters for each day within the 30-day interval leading up to August 31st, 2023. This data will be used to provide suggestions on effective budget allocation for August 31st, 2023.