You can hire the best copywriters on the market, create a perfect design and take the best courses to launch your own paid media campaign. Sounds good? We agree.
However, here are some reasons why you may look at your shiny new ad and wonder why only 10% of your current budget was used – And we recommend checking the exact reason as soon as possible: Today, timing is almost everything.
The Budget Itself
Well, here’s an easy one. Check out your settings – Maybe your input is 100$ for a lifetime rather than a daily one? Maybe you meant to use a lifetime budget but accidentally set up the end date for a month from now instead of next week?
Those settings are crucial both for making sure your budget is fully used, as well as assuring that you won’t exceed the target budget – Just ask those who used a daily budget instead of a lifetime one and didn’t understand how their campaign got to thousands of dollars instead of a friendly and steady media budget.
The Audience
Every social network needs an audience that’s big enough – With at least a few hundred users it can use. Did you just upload a list with 120 customers? Think bigger. You can use those lists to create lookalike audiences. Still, if your page has only a few dozen likes or your website only gets a couple of hundred visits monthly, you need to gather more data before you can use that audience (Or again, go with the lookalike options).
The Bid
How much are you ready to pay for the privilege of showing your ads to your target audiences? This question is the wind behind the bid option, where you set up the maximum amount you’re ready to pay.
Why is that option important? It’s simple: There’s a 99.9% chance that you’re not the only one who targets that audience, and your competitors also aim for their share of the pie. The Bid option is used to determine the outcome between everyone who targets the specific audience – With a winner on top.
If your bid is too low, then your competitors will be the ones who’ll get their paid campaign running, resulting in a slow or even nonexistent rate for your ad manager. Ready to step up your game? Try and raise the bid and see if it changes the picture.
You can Investigate – Or Let us do it for you
The world of paid campaigns is vast, and there can be various reasons that affect your campaign’s performance. At Synapse, we’re familiar with all the relevant reasons, and we’d love to save you some time and effort by helping you reach your digital goals.