This article is for you, who daily revisit Google and Facebook to adjust your campaigns’ budgets. We know how hard is to make the ends meet at the end of the month, sometimes you expend a lot more than planned and some other very little.
Well, I have good news: you don’t have to do this anymore!
Pareto has created a tool that has saved more than 500 hours of work in the media operation – only in the first month – by automating the budget management of OmniChannel campaigns, also known as OBM (Omnichannel Budget Manager).
What is Omnichannel Budget Manager?
This is one of the many tools available on Pareto Ads, developed with an algorithm capable of optimizing your campaigns’ daily budgets using AI (Artificial Intelligence). The optimization is based on artificial neural networks, matching your optimization goal (Roas, CPA or Clicks) to your campaigns’ daily spent. This optimization takes place not only between different campaigns but also in different campaigns off different platforms (e.g. Google Ads and Facebook Ads).
Thus, the algorithm adjusts your marketing investment daily, this way it gives new opportunities for the campaigns with greater performance based on your selected target.
Therefore, if you have two campaigns focused on sales, one on Google and another on Facebook and the Google result is better (with higher ROAS results or lower CPA) OBM will be able to migrate budget from Facebook to Google and thus maximize your return.
How do I set it up?
It takes only 3 steps for automation to start saving your time and money:
1) Connect your Google Ads and Facebook Ads accounts to Pareto.io
2) Cluster your campaigns by target and bid strategy type
Attention! This configuration is essential for the best OBM usage.
The main point is to separate your campaigns into Clusters. Campaigns within the same Cluster are considered similar and there should be no preference for one of them.
For example, two traffic campaigns in Facebook Ads, one with Look Alike and another with Interest Audiences – in principle, the one that brings the most people for the least cost is the best.
Campaigns within the same Cluster must have the same objective and type of result. This way, the AI can compare the performance of each campaign within the Cluster based on its key metric (CPC, CPA, ROAS, or CPR) and make the necessary adjustments accurately.
Then, campaigns in the same Cluster should have the same conversion event (link clicks, site purchases, form registrations, conversations started, among others). In addition, they should have similar bidding strategies.
Thus, we should separate and label each cluster according to its objective, as in the examples below.
Here are some good cluster samples:
- CPA Cluster: a Facebook campaign with signup event and Lower Cost bidding strategy and one LeadAds campaign;
- More robust CPA Cluster: a Search campaign on tCPA (signup event), a Facebook Conversion campaign with signup event and Lower Cost bidding strategy, and a LeadAds campaign;
- CPC Traffic Cluster: a Google Display campaign in Maximize Clicks and a Facebook traffic campaign with a Lower Cost bidding strategy;
- ROAS Sales Cluster: a Google Shopping campaign on tROAS and a Google Search campaign on tROAS;
- More robust ROAS Sales Cluster: a Facebook Catalog campaign with a minimum tROAS strategy, a Google Shopping campaign in tROAS, and a Google Search campaign in tROAS;
- Video Cluster (CPV): a YouTube campaign and a Facebook VideoView campaign;
- App Cluster (CPI): a Google App Install campaign and one Facebook App Download campaign.
Obs: Android’s CPI is different from iOS’ CPI on average by 400%. Be careful not to have them in the same Cluster.
One last tip for when you create Clusters: it is important to analyze the campaigns’ history to understand how much money you will make available for each Cluster. In addition, it can be interesting to place new campaigns in a specific cluster before joining them in a Cluster with old campaigns – due to the low history of results, it can be “deprioritized”.
Your daily budget adjustment days are almost over!
3) Set your desired monthly budget for each cluster and activate the Budget Manager
All set. Now what?
You can manage each cluster performance in the Reports area.
We recommend you check the daily adjustments in your Workflow. In this area, you can also check your change history.
It is always good to remember that this automation is a helper, which means that you are the boss and controls it.
Here are some tips to help you manage it:
- Keep in mind to update your clusters’ monthly budgets;
- If there is a change in the overall budget target, adjust the ad platform’s target and then update your clusters’ target;
- Avoid adding a campaign with less than two weeks of history to an existing cluster;
- Do not add campaigns with different objectives in the same Cluster. For example, campaigns optimized for ROAS and CPA should not go together. Similarly, we should not add Page Views campaigns together with Add to Carts.
Keep in mind that OBM will never make any adjustments that differ from ad platforms’ best practices. This means if you have to make some sort of aggressive change apply them directly to the respective ad platforms.
In this article, we present you to Pareto’s Omnichannel Budget Manager, the most complete Digital Marketing optimization tool to make Google Ads and Facebook Ads budget management easier. This tool saves you hours of your day spent on budget adjustments, avoiding configuration errors and problems with campaigns going into learning, and relies on Artificial Intelligence to correctly choose the best budget.
If you already work with Paid Media and realized how this tool will save you hours of work, do not waste time and access Pareto.io now.