Understanding macro trends is crucial for making informed decisions within your PPC account. This is why businesses must create a holistic monitoring plan that takes all relevant data points into account.
3 ways to stay on top of PPC performance covered how to monitor your paid search performance comprehensively.
This article will demonstrate how to set up monitoring and analysis processes for macro-level events that impact your overall PPC performance and business.
Various external factors may impact your paid search efforts. Thus, your PPC monitoring plan should help you surface emerging trends in your industry so you can adapt your advertising strategies accordingly.
Tracking news cycles, PR, and competitor activity can provide valuable insights into your industry and how your advertising performance compares.
Here are some benefits of macro-trend monitoring for PPC:
This can result in significant cost savings and help companies to achieve a better return on investment (ROI) for their advertising efforts.
These monitoring tools are useful for staying on top of PPC macro trends.
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Year-over-year (YoY) projections based on historical data can set realistic expectations for your campaign result.
YoY projections improve forecasting accuracy, enable you to make data-driven decisions, facilitate long-term strategic planning, and improve accountability.
A few free resources can help you build projections based on your historical PPC performance.
Microsoft Advertising, Google Ads and Google Sheets
Download your historical performance data directly from the ad platforms (Google and Microsoft) to create month-to-month projections for the upcoming year.
You will want to adjust your forecasts by excluding data impacted by specific strategies or changes in your PPC accounts.
For example, your company may have run a one-time sale over the summer, which boosted sales. But this is not an annual sale, so it should not be built into your projections model.
Google Performance Planner
Performance Planner is a free tool offered by Google Ads that helps advertisers create and forecast the performance of their Google Ads campaigns.
You need to input essential information about your campaign, such as your target location, ad format, bidding strategy, and budget.
You'll also need to list keywords you plan to target in your campaign. Once you've entered this information, the Performance Planner will analyze historical performance data from your Google Ads account and use machine learning algorithms to project how your campaigns will perform in the future.
If you want to develop a more robust projections program, you could check out the following tools:
Regularly checking your competitors' advertising activity can give you a better understanding of what's working for them and what isn't.
Discover competitive insights with the core PPC platforms. Google and Microsoft provide tools that offer insights into competitor activity.
Google Ads Auction Insights
Google Ads Auction Insights is a free tool that compares your performance to other advertisers in the same auction.
You can use it to see how often your ads are shown alongside your competitors' ads and identify areas where you may fall behind.
Microsoft Advertising Competition Tab
The Competition Tab provides valuable competitive insights for your campaigns. Their Auction Insights reports can give an overview of your competitors' performance metrics and how they compare to yours.
You can use Google Alerts to monitor your company, but it's also an excellent strategy to set up alerts for your main competitors. They may make significant announcements that would be insightful for your campaigns.
If you have critical competitors in your industry, you should also consider attending their earnings! You can gain valuable insights from these calls. Companies provide earnings reports, strategic initiatives, and more.
Some helpful paid subscription tools can help inform your competitive monitoring practices. Check out the tools listed below if you need more than the free tools.
Numerous external factors can impact your PPC performance. Therefore, you should prioritize campaign performance and optimize based on that data.
Understanding your competitive landscape and monitoring trends and competitors will help provide you with a slight edge.
The post How to keep up with macro trends that impact PPC performance appeared first on Search Engine Land.
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