We are very sorry to remind you of this again, but if you were not born with a silver spoon in your mouth you must track your budget regularly🧐 You already know the importance of this in your social life, but there are many different points that you should pay attention to in the world of ecommerce.
This situation is very similar to actually constructing a building. If you don't allocate enough budget to your marketing performance, you will find that your marketing is damaged by the slightest concussions, similar to using insufficient materials in the construction of a building. Likewise, if you overspend, you may not get the performance you want from the profit and loss ratio in the long run and you may be disappointed.
These types of problems often arise when many details are overlooked. In fact, it is not uncommon for these problems to occur, and should not be disappointing. However, the important point is to identify the problem and act quickly for improvement. In this article, we will look into the situation of over or under spending your budget, which can cause problems that can grow with the snowball effect, and how to avoid it.
The Importance of Tracking Your Budget
If you voluntarily have a champagne taste on a beer budget, then we have nothing to say😏 However, if things are not under your control and overlooked details become a problem for you, tracking your budget is critical.
1) Helps you to stick to your budget
Tracking your budget regularly allows you to see the activities you have done for the point you want to direct your expenses after a certain period of time. So, you can compare the amount you plan to spend with the amount you spent and see if everything is going the way you want. Moreover, you can focus not only on the points you overspend but also on the parts you neglect by under-spending.
2) Allows you to expand your spending plan
Regularly tracking your budget not only shows you what you're spending money on but also where you can budget. For example, when you notice points that perform well at a lower cost than you think, you can direct the remaining money to different areas. Thus, you can create much more advanced and branched budget planning.
3) Balance in all things
You know what they say, no matter what business you're in, always try to create "Balance in All Things". Of course, this does not mean that you should budget equally for everything in your ecommerce business. It means that you need to do budget tracking to create a balance on how you should use your budget and maintain this balance. That's why you need to do budget tracking to create your own balance and create sustainable planning.
How to Track Your Budget to Avoid Over/Under Spending
If you want to do budget tracking to avoid over or under spending, the best way to do it is to use a budget tracking tool that will provide you with the necessary data completely automatically. You can do this using Google Analytics, but if you don't have Google Analytics experience and haven't taken a course on it, it can be quite confusing at first. Therefore, what you need is a tool that has an interface that is easy for anyone to use and that will get you the data you want with just a few clicks. Well, the only tool that is this great is of course heybooster😏
With heybooster, you can do budget racking very quickly, fully automatically. Bringing together data on many details that you would normally miss, heybooster offers detailed data reporting on where you should focus. Thus, instead of spending long hours in front of the screen, you can save time and direct your energy to other areas.
Moreover, thanks to heybooster, you can set up daily, weekly, and monthly alert options and be instantly informed of any changes. Unlike many tools, instead of just offering monthly reporting, we provide you with monthly forecasting by considering the changes on a daily basis, so you can see the points you need to focus on more clearly with heybooster.
Let's take a look at the insights heybooster offers for budget tracking!
Identify Your Products with Unusual Cost Increases
The costs of products you promote with Google Ads may increase from time to time. This is normal, but you need to follow up and take action to prevent an increase as soon as it occurs. Thanks to heybooster's Ads products with unusual cost increases insight, you can identify products that have increased in cost by more than 20% in the last 7 days. In this way, you can prevent the wrong investment by detecting the products that cause you to spend more than necessary from the budget of your advertising campaign. Because sometimes only one product can prevent you from promoting other products by causing you to spend most of your budget without you noticing.
Before this situation creates a snowball effect, it is very important to be fully automatically alerted and take action on this issue. Thanks to heybooster, you can access this data very quickly and sell the necessary steps!
Detect Your Overlapping Keywords
Search campaigns are one of the best methods by google ads to promote your business marketing in the searches you want to highlight. If you want to stand out in any search, you need to set up a campaign for a keyword related to that search in Google Search Ads.
You use DSA campaigns to get impressions on searches related to your target audience's searches that can match your brand. In other words, you try to appear in the searches of your target audience, but you may be wasting your budget to promote the same keyword by getting traffic from DSA for a keyword you have already invested in search campaigns. As you spend on the same keyword from the DSA campaign, your budget will be exhausted before you can invest in new search terms.
But don't worry, heybooster is with you! Thanks to heybooster, you can receive notifications that there are overlapping keywords, so you can take the necessary moves to save your budget. In this way, you can make progress in a planned and controlled manner.
Here is an example of reports where heybooster detects overlapping keywords for you! Meet with heybooster to reach these reports completely automatically!
Get Your Treemap Analysis of Non-Branded Keywords
One of the best ways to track whether the campaign you will allocate will bring you income is tree-map analysis. By doing this analysis, you can track your Google Ads expenditures by allocating how much to which campaign.
One of the most critical points of this follow-up is that in a system where you are trying to establish a balance between campaigns, it allows you to prevent situations such as destabilizing the balance by allocating more than the necessary budget to certain parts. For example, one day, DSA campaigns may cause you to spend more budget than you think, causing you to not be able to allocate a budget for campaigns that will allow you to optimize ROAS.
That's where heybooster comes on the scene to help you out. With heybooster's Treemap Analysis of Non-Branded Google Ads Campaigns insight, you can receive alerts when such a situation occurs, so you can be aware of the situation and take firm steps forward.
Keep an Eye on Your Campaign Spending
Similar to the other situations mentioned above, sometimes your Google Ads campaigns can cause your budget to be spent more than planned. In such cases, if you don't act quickly, it can turn into a growing problem over time and cause disappointment for you in terms of using a balanced budget.
Thanks to heybooster's “spent on ads campaigns increased by more than 40% yesterday” alert, you can immediately learn when your Google Ads campaigns have exceeded 40% of the average budget usage in the last 7 days and thus you can keep the situation under control.
Never Waste Your Budget on Products with No Conversion
Sometimes, among the products promoted in Google Ads, there may be products that do not bring the expected rate of conversion, although they use an above-average budget. If the product grabs the attention of users and the conversion rate is low even though users are interacting with the product, there is a problem. If you do not prevent this situation, you will waste your budget and miss other points you need to focus on.
With heybooster's High-spending products that do not convert insight, you can avoid this situation and avoid unnecessary spending. With this insight, you can see products that cannot convert despite high spending and receive an alert about this situation.
Let's meet the miracles of heybooster now!
Conclusion
In order to increase your business marketing performance, it is very important to follow the budget and take quick action at the necessary points. As well as the strategies implemented by everyone, there are also details that many people overlook and that will make you stand out. Therefore, it will be much more beneficial for you to create a more comprehensive plan by focusing on these details.
Your business marketing performance will now be much stronger with heybooster insights that will enable you to do this tracking and take firm steps by focusing on the details.
