As explained previously, we’ve started the PPC Back to Basics blog series to help assist those new to PPC, new to Bing Ads and those who just want to sharpen their PPC skills. In this post, we’ll focus on the budgeting functionality, available budgeting options and we’ll demonstrate how to set up your daily or monthly campaign budget.
If you’re new to PPC and you’re not sure how budgeting works, put simply, your Bing Ads budget is the total amount you’re willing to spend across your campaign’s ad groups. Bing Ads allows you to set your budget on a daily or monthly basis. The daily option lets you control how quickly your budget is spent, while the monthly option allows you to set a monthly maximum that depletes as customers click your ads.
Daily standard budget:
The daily standard budget is the default option when you set up the ad group. This option offers several benefits:
- The budget is spent smoothly throughout the day.
- If the click-through rate (CTR) is higher than expected, the rate of spend may be slowed to ensure budget is available at the end of the day.
- Your budget limit is a general target, allowing the actual daily spend to be slightly higher or lower (NOTE: you will not be charged for any clicks that exceed your set budget amount).
Daily accelerated budget:
- Does not “smooth out” clicks across the entire day.
- Bing Ads spends your daily budget as quickly as clicks occur -- the entire daily budget could be spent in the first few hours of the day.
- When the daily accelerated budget limit is reached, ads stop serving until the next calendar day.
- Functions similarly to the daily accelerated budget only over the duration of a month.
- Budget is depleted as clicks occur.
- When the limit is reached, ads pause until the first day of the next calendar month.
When selecting a budget option, consider how often you plan to monitor and change your budget. Evaluate your advertising goals and total available budget to determine the best approach for your campaigns.
If you monitor your campaign each day, you may want to choose “Daily Accelerated” to help maximize your impressions. This option is recommended when you have a high budget and can accommodate ad traffic occurring throughout the day.
Set a “Monthly Budget” if you don't anticipate changing your budget very often. The monthly budget option works well when you have a high or unlimited budget, and can accommodate all potential ad traffic.
If you are running a new campaign, or are a new search marketer, use the default “Daily Standard” budgeting for a week or two. Collect enough data to evaluate your performance and campaign needs.
Setting a daily or monthly budget
When you set up your campaign, you’ll be asked to make your budgeting selections.
To choose the daily budget option, select “Daily” from the drop-down menu next to the “Campaign budget” box. In the “Campaign budget” box, enter your daily amount.
When you set a daily budget, the Bing Ads system multiplies the daily amount by the number of days in the current month and automatically calculates the maximum monthly budget. Expand “Daily budget options” to select how you want the budget spent, Standard or Accelerated.
Changing your budget
Your budget is directly affected by your keyword bid amounts. Since keyword bids can vary, be sure to monitor the bid amounts and frequency of clicks. To make edits:
- Go to the “Campaigns” page and hover over the “Budget” column of the “Campaign” row you want to update. Click the pen icon to proceed. You can only change the budget amount this way.
- Change the budget type and the amount by selecting the campaign and choosing the “settings” tab. Under “campaign settings” alter the “Campaign budget” information.
At some point during your campaign, your budget will most likely need some attention. To manage your budget, access the Budget Suggestions tool from the “opportunities” tab.
For each campaign with a depleted or nearly depleted budget, Bing Ads will provide a recommended budget, along with an estimated increase in clicks. Using this tool allows you to easily make adjustments to budget recommendations and apply new budgets to your campaigns. This nifty tool with Bing Ads gives you flexibility on how to serve ads. Your choice depends on how active you are monitoring and modifying your campaign(s).
Now that we’ve gone over budgeting, which budget option will you choose to manage your Bing Ads campaign(s)?
Thank you for reading and we hope this helps you budget your campaigns in Bing Ads. Feel free to leave any comments or questions below. We love your feedback!
- Ricky :-)