Paid Social Ads Made Easy - Budget Tips & Tricks (Free Template)

Summary

This video script outlines a strategic approach to paid advertising, emphasizing the integration of inbound principles with outbound strategies. It highlights the importance of media planning, buying, and optimization, offering actionable tips and a template for an effective paid media plan. The script discusses targeting the right audience, aligning ads with customer intent, and tracking key metrics like ROAS for maximum ROI. It also touches on budget allocation using the 70/20/10 rule and the choice between manual and automated bidding strategies, ultimately aiming to create a customer-centric marketing approach that drives growth and profitability.

Takeaways

• 📈 Paid advertising is an effective method for customer outreach, allowing you to target a specific demographic and increase brand awareness.
• 🎯 The key to a successful paid media strategy is understanding your audience and aligning your ads with their intent at each stage of the buyer's journey.
• 📊 Measurable metrics and easy-to-track ROI make paid advertising an attractive option for businesses looking to increase revenue and reach their ideal customers faster.
• 🚀 Media planning, media buying, and media optimization are the three essential steps to a successful paid media campaign.
• 🎯 Start with media planning by setting clear goals, identifying key performance indicators, and researching your audience to choose the right platforms.
• 🛍️ Media buying involves executing strategies to maximize your budget and purchasing paid media placements, including setting bids and automating purchases.
• 📈 Align your media buying with the buyer's journey to understand customer behavior, segment campaigns, and predict costs of attracting new buyers.
• 💰 A revenue-based approach to budgeting for paid media typically involves allocating 7-8% of gross revenue, while a goal-driven approach focuses on achieving specific objectives.
• 📊 Use a free paid media template to set goals, budget, and track the performance of different ad types and platforms.
• 🔄 The 70/20/10 rule is a guideline for budget allocation across the marketing funnel, prioritizing channels that generate leads and allowing for experimentation.
• 🚦 Choose between manual and automated bidding strategies based on your campaign size, historical data, and the level of control you desire over your ad placements.
• 🏆 An optimized paid ad campaign can significantly improve key performance metrics, as demonstrated by the success story of Wheel the World.

Q & A

What is the main focus of the video?

The main focus of the video is to explain how to apply inbound principles to outbound paid advertising and provide actionable tips and templates for creating an effective paid media plan.

What are the benefits of paid advertising?

Paid advertising benefits include raising brand awareness, targeting quality leads, fast results through accessible metrics, easy measurement of costs and ROI, and the ability to adjust and optimize campaigns.

What are the three essential steps in a paid media strategy?

The three essential steps are media planning, media buying, and media optimization.

How does media planning help in a paid media campaign?

Media planning helps by setting goals and key performance indicators, researching the audience, and choosing the right platforms based on buyer personas, which directly impacts ad placement and bid strategy.

What is the purpose of media buying?

Media buying connects the right ads to the right audiences at the right times and places, executing strategies to maximize budget and purchasing paid media placements, aligning advertising content with customer intent at each funnel stage.

How does media optimization contribute to the success of a paid media campaign?

Media optimization involves understanding customer behavior, segmenting campaigns by user intent, evaluating ad performance, adjusting messaging, identifying risks and gaps in the marketing funnel, and predicting costs of attracting new buyers.

What is the recommended budgeting approach for paid media?

Businesses typically budget around 7% to 8% of gross revenue for paid media. A goal-driven approach involves choosing a budget to achieve specific business objectives and calculating ROI to understand campaign goals' impact on the overall budget.

How does the 70/20/10 budget split rule work in paid media?

The 70/20/10 rule simplifies budget allocation across the marketing funnel: 70% for awareness stage, 20% for consideration, and 10% for decision. It prioritizes channels that generate leads and brings in search ads and remarketing, as well as testing ad formats.

What are the advantages of manual bidding in paid advertising?

Manual bidding allows for control over maximum CPC, management of bidding aggressiveness, bid revisions for underperforming keywords, and the ability to apply changes at specific times.

What benefits does automated bidding offer in comparison to manual bidding?

Automated bidding leverages real-time data for competitive and relevant ads, maximizes clicks and conversions based on objectives, optimizes targeting performance, and reduces ad costs by finding optimal bid amounts for campaign goals.

What was the impact of an optimized paid ad campaign for Wheel the World?

The optimized paid ad campaign for Wheel the World led to a 65% increase in bookings, 23% growth in leads, a 64% decrease in cost per lead, and expanded access to travel experiences for people with disabilities.

What is HubSpot's role in the success story of Wheel the World?

HubSpot's CRM platform helped Wheel the World by providing data across applications, keeping teams aligned, and leveraging buyer persona data to identify the most effective marketing channels for their business.

Outlines

00:00

🚀 Inbound Principles for Outbound Advertising

This paragraph introduces the concept of applying inbound marketing principles to outbound paid advertising. It emphasizes the importance of creating a paid media plan that maximizes budget and bidding strategy. The speaker explains that paid advertising is a popular method for customer outreach, offering benefits such as fast results, measurable costs, and easy ROI tracking. The paragraph outlines three essential steps in paid media: media planning, media buying, and media optimization. It stresses the need for understanding the audience and choosing the right platforms, setting goals and KPIs, and aligning advertising content with customer intent at each stage of the funnel.

05:00

📊 Budgeting and ROI in Paid Media

The second paragraph delves into the intricacies of budgeting for paid media and understanding the return on investment (ROI). It discusses the revenue-based approach and goal-driven approach to budgeting, providing a practical example of how to use a paid media template to set goals and allocate a budget. The paragraph highlights the importance of tracking key metrics such as cost per click (CPC), revenue generated, and return on ad spend (ROAS) to evaluate ad performance and make informed decisions about budget allocation. It also introduces the 70/20/10 rule for budget distribution across the marketing funnel, offering insights for both beginners and established businesses.

10:03

🛣️ Bidding Strategies for Ad Placements

This paragraph discusses the two primary bidding strategies for ad placements: manual and automated. It uses the analogy of a road trip to explain the differences, with manual bidding being the road atlas that allows for personal control and course corrections, and automated bidding being the navigation system that uses machine learning for optimization. The paragraph outlines the benefits of each method, such as manual bidding's ability to manage aggression and bid revisions, and automated bidding's use of real-time data for maximizing conversions and optimizing costs. It advises on when to use each strategy, suggesting manual bidding for new campaigns and automated for high-volume accounts with sufficient historical data.

🌟 Success Story: Wheel the World

The final paragraph concludes the video script with an inspiring success story of Wheel the World, a travel company catering to people with disabilities. It illustrates the impact of an optimized paid ad campaign by sharing the company's achievements: a 65% increase in bookings, 23% growth in leads, and a 64% decrease in cost per lead. The story emphasizes the power of leveraging buyer persona data and identifying effective marketing channels, as facilitated by HubSpot's CRM platform. The paragraph ends with a call to action, encouraging viewers to take a free certification course for planning, buying, and optimizing ad campaigns, and to engage with the content by liking, commenting, and subscribing.

Keywords

💡Inbound Principles

Inbound principles refer to a marketing strategy focused on attracting customers through valuable content and experiences, rather than interrupting them with traditional advertising. In the video, it's emphasized that applying these principles to outbound paid advertising can lead to effective campaigns that resonate with the target audience's interests and needs.

💡Paid Advertising

Paid advertising is a marketing technique where a business pays a publisher to display its content to a targeted audience. It's highlighted in the video as a popular method for customer outreach, brand awareness, and lead generation, with the benefits of being measurable, adjustable, and optimizable.

💡Media Planning

Media planning is the process of determining the advertising objectives, researching the audience, and selecting the appropriate platforms for a paid media campaign. It's crucial for aligning advertising efforts with customer intent and business goals, as discussed in the video.

💡Media Buying

Media buying involves the execution of strategies to connect the right ads with the right audiences at the right time and place. It includes setting bids and automating purchases to maximize the budget and reach the intended audience effectively.

💡Media Optimization

Media optimization is the ongoing process of evaluating ad performance, adjusting messaging, and identifying risks and gaps in the marketing funnel. It's essential for understanding customer behavior and predicting the costs of attracting new buyers, as highlighted in the video.

💡Budgeting

Budgeting in the context of paid media refers to the allocation of funds for advertising campaigns. The video explains that the right budgeting method depends on business goals, revenue, and industry standards, with a revenue-based approach typically budgeting around 7% to 8% of gross revenue.

💡Bidding Strategy

A bidding strategy in paid advertising determines how an advertiser competes for ad placements. The video discusses both manual and automated bidding, where manual allows for setting a maximum CPC and automated bidding uses algorithms to optimize conversions.

💡Marketing Funnel

The marketing funnel is a model that represents the customer journey from initial awareness to final conversion. The video emphasizes the importance of aligning media buying with the buyer's journey and using the funnel to allocate the budget effectively.

💡Return on Ad Spend (ROAS)

Return on Ad Spend (ROAS) is a metric that measures the efficiency of advertising by comparing the revenue generated to the advertising cost. It's a key performance indicator in performance marketing, as highlighted in the video, that helps businesses understand how well they are maximizing their advertising budget.

💡HubSpot

HubSpot is a CRM platform that integrates data across various applications, ensuring that all teams have access to the same information and can work in alignment. It's mentioned in the video as a tool that helped a travel company leverage buyer persona data for a successful Google Ads campaign.

Highlights

Applying inbound principles to outbound paid advertising can enhance the effectiveness of your media plan and budget strategy.

Paid advertising is a popular method for customer outreach, offering fast results and easy-to-measure costs.

Advanced targeting in paid ads helps increase revenue by reaching ideal customers more effectively.

Three essential steps for a successful paid media strategy are media planning, media buying, and media optimization.

Media planning involves setting goals, researching your audience, and choosing the right platforms for ad placement.

Media buying connects the right ads to the right audiences at the right time and place, maximizing budget efficiency.

Aligning media buying with the buyer's journey helps understand customer behavior and optimize marketing funnel.

A revenue-based approach for paid media budgeting typically uses 7% to 8% of gross revenue.

The goal-driven approach to budgeting assigns a dollar amount to each objective and calculates ROI to understand campaign impact.

The free paid media template helps set goals, budget, and track campaign performance for better optimization.

A 70/20/10 budget split rule of thumb can be applied across the marketing funnel for efficient spend allocation.

Manual bidding allows for control over maximum CPC and the ability to make bid revisions for underperforming keywords.

Automated bidding uses machine learning algorithms to optimize conversions and target performance.

For new campaigns, starting with manual bidding helps the algorithm understand target audiences before switching to automated.

Wheel the World used a strategic Google Ads campaign with HubSpot's help, leading to significant growth in bookings and leads, and a decrease in cost per lead.

Harnessing the power of paid ads and inbound marketing creates a customer-centric approach that drives meaningful connections and profitability.

HubSpot's CRM platform provides a synchronized data environment for teams, enhancing collaboration and alignment.

Transcripts

- Have you put time, research

and effort into high quality content

but no matter which algorithm hack or,

SEO strategy you follow, you can't gain traction?

In this video, I'll break down exactly

how to apply inbound principles

to outbound paid advertising.

Along with actionable tips and templates,

to create an effective paid media plan

to get the most out of your budget

and bidding strategy.

Let's get to it.

Paid advertising has long

been a popular customer outreach method.

You pay a publisher to display your content

to a targeted demographic.

In return, you raise awareness of your brand

and target quality leads that convert

into paying customers, nice.

Accessible metrics give fast results.

Costs are easy to measure.

ROI is easy to track

and campaigns are adjustable and optimizable.

With advanced targeting like this,

paid ads are one of the best ways to increase revenue

'cause it's easier to reach your ideal customers

and hit your business goals faster.

But buyers want solutions and value.

So how can you seamlessly mix this

into your paid media strategy?

There are three essential steps.

Number one, media planning.

Number two, media buying.

Number three, media optimization.

Media planning.

Before you launch a paid media campaign

you need to find your goals

and key performance indicators,

research your audience

and choose the right platforms.

Everything starts with the people that buy from you.

This has a direct impact on where

and when you show ads and your bid strategy.

Each platform has its own benefits and drawbacks

so do your buyer persona research first.

Media buying is the next critical step

in connecting the right ads to the right audiences

in the right place at the right times, right?

Right.

Here's where you'll execute strategies

for maximizing your budget

and purchasing paid media placements.

This includes setting bids

and automating purchases

which I'll dive deeper into in just a bit.

Your main goal is to align advertising content

with customer intent at each funnel stage.

Let's say you wanna convert website visitors into leads

engaging with those who opt in to your email newsletter.

You could show your ads

to people who've already visited your website

by mixing Facebook and Instagram ads

with display ads on third party websites.

Or maybe your goal is to reach

bottom of funnel customers that haven't

completed a purchase, addressing buyer (indistinct).

You could retarget Instagram followers

with a promotion, discount, bonus or gift,

as a friendly reminder of your offering.

When your media buying is aligned

to your buyer's journey,

you'll be able to understand customer behavior,

segment campaigns by user intent,

evaluate ad performance, adjust messaging

identify risks and gaps in your marketing funnel

and predict costs of attracting new buyers.

All important metrics to track, test, measure

and adjust in your ongoing optimization process.

There's a lot you can learn

from that dollar and how it performed,

which will determine

what you can afford to spend.

Now when it comes to your paid media budget

choosing the right method will depend on

several things such as your business goals,

total revenue and industry.

Businesses using a revenue based approach

typically budget around 7% to 8%

of gross revenue for paid media.

This percentage will vary depending

on your business size and industry.

A goal-driven approach however,

means choosing a budget best suited

to achieve business objectives

and assigning a dollar amount to each.

And calculating that ROI

will help you understand how your campaign goals

impact your overall budget.

Let's take a look at how to do this

using our free paid media template.

Open the template, click the generate tab

to set your goals and budget.

We'll choose increased sales

to existing customers from the dropdown menu

but you can customize base on your needs.

If you're working with a small budget

or are new to paid media, start small,

then scale based on what works and what doesn't.

For budget, let's use $500.

Next, let's pick the ad types

and platforms that'll help achieve your business goal.

In the type column here

you'll find a list of paid media to choose from.

Let's say you've got a new product

and want to launch two campaigns this month

for the same offering.

A Google search ad and a Pinterest ad.

You've previously seen great performance on Pinterest

and wanna allocate $350 to social.

You're also interested in how search ads perform

and put $150 towards that channel.

Go to type and select search.

For the date let's enter Jan one to Jan 31st.

For platform, enter Google.

In the description field here,

we'll type search ad for new product.

Then type 150 in the spend field.

Now let's do the same for the Pinterest ad.

The next step is to launch

then analyze campaign performance.

Okay, your Google ad got 175 clicks

and the Pinterest ad 225, not bad.

The cost per click or CPC will auto-populate here

with 86 cents for the search ad

and a $1.56 for social.

Now, at first glance, it looks

like the Google ad performed better with a lower CPC,

but not so fast, my friend.

Since your goal is to increase sales to existing customers,

you wanna check how your ads impacted revenue.

The search ad generated $400

while the social ad made $1200.

Let's add this to the template in the revenue column.

Now let's look at the return on ad spend, or ROAS.

This is the golden metric of performance marketing

so you know you're maximizing every dollar spent

with real deal returns.

You'll see here that ROAS is

$2.67 cents for the search ad.

While the social ad has a return of $3.43 cents.

This means the Pinterest ad

was more efficient even though the CPC is higher.

As you monitor performance and optimize campaigns,

you can use this data to make a case

to increase your paid media budget

to bring higher return over time.

Now that you've established your budget

in most profitable areas of opportunity,

what's the best way to divide that spend?

Your marketing funnel will help here.

One rule of thumb is the 70/20/10 split.

This simplifies budget allocation across the funnel

and can be applied in a variety of ways.

If you're just starting out,

you could allocate 70% of your budget

to the awareness stage.

20% to consideration,

and the remaining 10% to decision.

This prioritizes channels that generate leads

needed to populate your other audiences.

Think social ads like Facebook, Instagram and Pinterest.

The next 20% brings search ads

and remarketing into your mix.

With 10% for testing ad formats

that push price points and promotions

like Google Shopping and display ads.

For established businesses,

implement a 70/20/10 split,

with 70% on proven channels,

20% on safe bets and 10% on experimentation.

In this split, your 70% bucket is all

about refining your success record

of tried and tested media.

The next 20% is media,

which may be more costly or risky

but has a bigger potential new audience.

And the 10% is for testing new channels

ensuring campaigns don't get stale.

Just remember, the 70/20/10 approach,

isn't just a one and done success story.

It's a framework for testing

and adjusting which efforts

drive the most engagement and ROI.

And we dive deeper into the strategic allocation

of those dollars in our free paid media course.

Now another important decision that'll impact

your bottom line, is your bidding strategy.

For this, let's take a road trip.

There are two ways you can bid

on your ad placements, manually, or automated.

Manual bidding lets you set your

own maximum CPC for your ads,

and automated or smart bidding on some platforms,

uses machine learning algorithms

to optimize your conversions.

So manual bidding is your road atlas.

Well, automated bidding is your navigation ad.

If you want deeper insight into the experience

manual bidding lets you choose your preferred route.

Plus, the slower pace gives you time

to react and course correct.

The key benefits being,

managing how aggressively to bid on keywords,

bid revisions to underperforming keywords

to correct performance drops

and controlling exactly when these changes are applied.

If efficiency is what you want

then the pros of automated are

leveraging real-time data,

so ads remain competitive and relevant.

Maximizing clicks and conversions based on objectives.

Optimizing targeting performance on audiences

driving the best CPA, cost per acquisition,

and ROAS, return on ad spend.

And reducing ad costs by finding

optimal bid amounts for campaign goals.

Automated bid strategies, while powerful,

aren't perfect navigational tools.

You'll still need to make informed choices

for a smooth ride.

Use this when you have high volume accounts

or large advertising budget.

You have enough historical data

to optimize your set goal

and predict future bids.

You want to manage efficiencies

and don't have time to monitor a manual campaign.

For new campaigns, start with a manual bidding strategy

to keep tight control of your keywords and CPC.

This gives the algorithm the time

and data it needs to understand target audiences.

Use this for small campaigns with small budgets.

If you have less than 30 days of audience data

and time to monitor campaign results

after you get enough conversions

using a manual strategy,

then switch over to automated to drive that traffic.

Both will require that you monitor

your campaigns to evaluate

if the bid strategy will get you to your destination.

For those of you who stuck around with me

and thank you, by the way,

here's an inspiring success story

to show what an optimized paid ad campaign

can do for your dollar.

Wheel the World, is a unique travel company

that provides successful travel

for people with disabilities.

To identify high intent leads,

they needed to understand how to connect and earn,

the trust of their customers

during the lead to sale journey.

With HubSpot's help,

a Google Ads campaign allowed them

to leverage buyer persona data

and identify the most effective marketing channels,

for their business.

This strategic campaign led to a 65% increase in bookings,

23% growth in leads,

64% decrease in cost per lead

and change people's lives by expanding access to

travel experiences that didn't previously exist.

Very impressive.

It all, the buyer's journey is a critical part

of your paid advertising strategy,

and when you harness the targeting capabilities of paid ads

with the nurturing power of inbound marketing,

my friend you create a customer-centric approach

that drives meaningful connections

and supercharges growth and profitability.

If this video got you inspired

to build a successful media strategy,

take our free certification course.

You'll learn how to plan,

buy and optimize ad campaigns

across various channels,

while gaining valuable insights

from industry experts to maximize ROI.

And as always, make sure to like, comment,

and subscribe to stay up to date

on the latest tips and strategies all across marketing.

Now, if you excuse me, I'm gonna go put in a bid

for a little bit of nap time.

Feeling a little tired these days, you know?

Until then, I'll see you next time.

- I can find this client info.

- Have you heard of HubSpot?

HubSpot is a CRM platform

so it shares its data across every application.

Every team can stay aligned.

No outta sync spreadsheets or dueling databases.

HubSpot, grow better.

(upbeat music)