ADVERTISING BUDGET METHODS
Setting Your Advertising Budget
·
Your
advertising goals.
·
The
type of YouTube ad you’re running.
·
Advertising
audience targeting preferences.
·
Your
daily budget.
And of
course, the cost to create the video itself.
As of 2021, the average business sets a $10 daily budget for its YouTube
advertising campaigns. The key is to set a reasonable budget and be realistic
about your advertising goals.
YouTube is a
great way to maximize traffic and increase awareness for your business, but
it’s important that you set a clear objective right from the start.
Also keep in mind that since YouTube requires that you pay only for the ads
that are viewed, you’ll be able to effectively determine your overall
advertising costs based on how many views you’re aiming to reach.
You’ll also want to closely monitor your results. You can easily gauge the
effectiveness of your ads by tapping into the available metrics that will give
you important engagement-based data, such as likes, shares, comments,
watch-time, and what Google calls “brand lift”.
Brand lift
is “a measurement of the direct impact your YouTube ads are having on
perceptions and behaviors throughout the consumer journey.”
So, begin by
creating a cost outline that includes all your upfront costs, such as video
creation, script writing, etc.
Then, choose
the right type of ad for your business and set a reasonable campaign goal.
Tip:If
you are looking to decrease advertising costs, you might want to consider
working with a YouTube advertising partner where they take care of the video
production process for you.
Resource:https://www.youtube.com/ads/resources/creative-directory/