Planning the Budget
Once the targeting parameters have been chosen, we can determine the approximate number of available visitors you can mail to each day. You control the budget by setting daily or monthly limits that can be adjusted as the program runs.
If the client insists on a fixed budget amount, we set a monthly “cap” of spending, which will either amortize the spend-per-day, or reach a budget limit and then stop for the remainder of the month.
A challenge with a fixed monthly spend is that we find the Agency has to “sell” the program again each month. Again, this should be treated as ongoing program, and we won’t actually get meaningful reporting until at least 60 days in. The targeting parameters directly affect the budget and number of cards sent each day:
- If your client’s budget isn’t enough to cover all the available visitors, we can set additional filters to prioritize and optimize the spend to reach those people most likely to respond.
- If your parameters are too restrictive to get the card volume you’re trying to reach, we can adjust them after the program begins.
Important note: We can see from the dashboard how many mailable addresses exist, but we can’t determine the impact additional targeting parameters (suppression or geo-fencing) has on actual mailing volume until we start the actual program.
The best way to plan a budget is to think of it as an ongoing, monthly program. Your business will be getting continuous website traffic, most which will not convert on their first visit. This channel helps you convert that daily traffic, and can be continually optimized to increase conversion rates. Budgets can also flex based on the seasonality of your business.
After the program is outlined, it’s time to prepare for the launch.
This is again a good time to connect with your Modern iO Retargeting Specialist to review any custom needs. As a team, we’ll go over your budget, the best URLs to focus on, the conversion URL, and everything needed to set the campaign up.