Your PPC budget depends on how advanced you are with tools like Google’s Keyword Planner, Google Analytics, and digital marketing in general, the short answer may be. Before spending single penny it’s vital to define what you’re spending for. Setting actionable, quantitative goals with a timeline for your PPC spend is a must.
Your monthly and annual budget is a huge part of your PPC strategy, so whether you’re new to PPC or have been doing it for years, it’s worth taking a step back to figure out if you’re making the most of your spend. The most important consideration for budget planning is your lead needs. You’ll need to sit down and figure out some characteristics of your leads, such as:
- Lead quality
- Target cost per lead (CPL)
- Buying cycle
- Visitor frequency
- Geographic location
If you’re not sure what your target lead looks like, start by answering the following questions:
- What can I afford to spend?
- How do I place value on a “lead?”
- What is my current conversion rate?
- How many leads do I need through PPC?
After getting answer of all these questions you can easily set your PPC budget.