As the most commonly used search engine, Google is a great place for businesses to advertise their products and services. Google Adwords is a great way to get your ad out there and it is easy for anyone to start a campaign and create ads. In my previous blog which can be found by clicking here, I mentioned how to create ads but it also important to know about the cost of creating ads and what you need to know about setting up your budget in Google Ads.
What you need to know:
Although it is important to have a creative ad, setting your budget and knowing how much you should actually spend on advertising is equally important. In Google Adwords, businesses can actually set their own budget and choose exactly how much they want to spend on advertising. A cool feature with Google Ads is that Google can suggest a budget and tell you how your budget ranks in comparison to competitors. Below is an image of what Google Ads told me about my budget when I was creating a campaign for my blog and you can see that it suggested a higher budget if I wanted to increase my chances of having my ad rank higher and appear higher on Google.
The main idea to understand about Google Adwords is that you choose a bid strategy which basically is the amount of money you're willing to pay for a click on your ad. The book, Introduction to Adwords mentions a helpful example of what happens when you set your bidding strategy to $5 per day. "It doesn’t mean Google is just going to take $5 from you—you actually have to get people to click on an ad, and that’s the main part of the AdWords story" (Kelsey).
Some cool features of Google Adwords regarding budget:
-You can have Google automatically choose a bid strategy which can be helpful if you are looking for an easy way to generate more traffic and get more people to click on your ads. Google can recommend a price strategy that can increase your website traffic based on what competitors are bidding.
-You can schedule an end date for your campaign/ad: This is beneficial because if you forget to set an end date Google will continually charge your card based on the budget you set, which can be bad if you don't want to spend a lot of money on advertising. Choosing an end date can ensure that you won't go over budget on advertising especially if you are a busy business owner.
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