Google Ads has introduced Advanced Plans for its Performance Planner tool to help you optimize YouTube ad campaigns. The update primarily targets campaigns with Action and Awareness objectives. Have a look at what it means for marketers and how it can impact YouTube advertising.
Why This Matters For Marketers?
Google Performance Planner is built mainly for users running demand gen campaigns. By demand generation, we mean any campaign that aims to create awareness and interest for a product. Most probably, a new brand does this to break into the market. Performance planners can help them to calculate the reach and conversions in advance.
The new update gives detailed insights on how to improve your demand generation campaigns on YouTube. From now on, marketers can forecast the potential outcome of campaigns based on different factors such as budget allocation, ad formats, and buying methods. With more control over these elements, advertisers can make better data-driven decisions.
Features That Stand Out
Check out the main features of Performance Planner:
- Better Budgeting Tools: It lets you know how budget changes will affect the performance to help you fine-tune the ad campaign strategy. If your current campaign is not working out, you can see how reallocating funds could change the outcomes before making any actual changes.
- Improved Forecasting: As mentioned earlier, you can get a bird’s-eye view of the outcomes expected from a campaign through metrics like engagement rates, conversions, etc. This way, you can simulate different scenarios before publishing a campaign.
- Optimize Buying Methods: Most importantly, Performance Planner gives you a breakdown of the effectiveness of various ad formats. As a result, you can choose the right buying strategy based on your objectives.
- Data-Driven Decision Making: Performance Planner utilizes machine learning and past campaign performance to make recommendations on the best allocation of resources. That means advertisers like you can use Google’s vast data pool for the decision-making process.
How It Helps?
The biggest advantage of this new tool is that it bridges the gap between budget management and campaign objectives. Ad specialists can now set more realistic goals. Plus, they can use the valuable data for better budget allocation.
In fact, advertisers can reap the greatest benefits of Performance Planner in multi-format campaigns as it allows cross-campaign adjustments that affect both brand awareness and direct action goals. For instance, advertisers can now simulate different budget scenarios for skippable ads, bumper ads, or TrueView campaigns and check out how each format might contribute to the final results.
And, brands that are working on a tight budget will really get addicted to the tool. They can use the forecasting features to plan ahead to reduce ad wastage.
Bottom Line
As the massive audience base of Google platforms is expanding with time, more advanced ad targeting features are expected to roll out soon. Stay in touch with the websites to get more of such latest updates!
