The holiday season is a critical period for brands looking to capitalise on a surge in consumer activity. But with more competition comes a higher cost of advertising, and without the right strategies in place, your budget can quickly spiral out of control. Preparing for the holiday ad rush means understanding how to optimise your ad spend and ensuring your campaigns are ready to deliver the best results at minimal cost.
In this guide, we’ll break down the best strategies to help you allocate your holiday ad budget effectively, adjust bids, and maximise your campaign’s ROI.
Strategies for Adjusting Bids and Allocating Higher Budgets
Adjusting your bid strategies during the holiday season is a game-changer. With more competition for ad placements, being proactive with your bids can help secure prime spots without breaking the bank.
Key budget allocation strategies to consider:
- Allocate higher budgets to high-performing campaigns: Review your existing data to identify the best-performing campaigns, and provide more budget for these. While you may have biases about which products you want to push, it’s important to focus on the facts. Data-driven decisions ensure your resources are directed toward the ads most likely to convert.
- Leverage automated bidding tools: Platforms like Google Ads provide automated bid strategies designed to help advertisers remain competitive while sticking to a budget.
- Increase bids on priority products: If you have specific products or services that are popular during the holidays, increasing your bids for those items can also drive more traffic and conversions.
Balancing between manual and automated bid adjustments will help you optimise your holiday season ad spend and improve efficiency.
Refining Targeting for Holiday Shoppers
While targeting requires precision and care year-round, it's even more crucial during the holidays. Shoppers are looking for specific products and deals, and if your ads aren’t tailored to these preferences, you’ll lose out on valuable clicks.
Consider these tips when refining your targeting:
- Segment based on intent: Tailor your ad sets to different groups, such as deal-seekers, last-minute shoppers, or early planners. This allows you to serve the right message to the right audience.
- Utilise remarketing: Retargeting past visitors who didn’t convert during the year can help you capitalise on holiday purchases. These customers are already familiar with your brand and may be more likely to buy during this high-spending season.
- Focus on local targeting: Many consumers search for local deals during the holidays, because it’s more convenient for them. Ensure your campaigns are adjusted to capture these searches through geo-targeting.
Bidding Techniques to Maximise ROI
Bidding during the holiday season is a delicate balance between staying competitive and managing your budget wisely. With increased competition and fluctuating demand, ad costs can rise rapidly making it easy for you to overspend without realising it. To strike that elusive sweet spot, you need to be strategic, using techniques that allow you to capture high-converting opportunities while keeping costs under control.
Here are a few bid strategies for the holiday season worth considering:Use Enhanced CPC (ECPC): This semi-automated bidding strategy adjusts your manual bids based on the likelihood of a conversion. It allows for better control over your budget while giving you a boost in competitive auctions.
- Target ROAS (Return on Ad Spend): By setting a target ROAS, you can instruct platforms like Google Ads to automatically adjust your bids to achieve a specific return. This is especially useful during the holidays when conversions are often higher in value.
- Dayparting: Also known as ad scheduling, dayparting allows you to adjust bids for certain times of the day or week when your audience is most active. For example, higher bids during peak shopping hours can lead to better ad positioning and increased visibility when it matters most.
- Bid adjustments for mobile: It’s a proven fact that mobile shopping surges during the holidays. By increasing your bids for mobile searches, you can capture the growing number of mobile shoppers and drive more traffic to your site.
Monitoring and Adjusting in Real-Time for Optimal Performance
The fast-paced nature of the holiday season means that ad performance can shift rapidly. What works one day may not work the next, so real-time monitoring and adjustments are crucial.
To optimise your campaign performance in real time, here are a few pointers to keep in mind:
- Track key metrics closely: Regularly monitor CPC, CTR (click-through rate), and conversion rates to see if your ads are under- or over-performing. If your CPCs are rising too quickly without a matching increase in conversions, it may be time to tweak your bids or targeting.
- Utilise A/B testing: Run tests on different ad copies, images, or calls-to-action (CTAs) to see which ones resonate most with your audience. Small adjustments can lead to big wins in performance.
- Adjust budgets dynamically: If you notice that certain campaigns are performing exceptionally well, allocate more budget to them on the fly. This flexibility ensures you’re investing more where you’re seeing the best return.
- Leverage real-time data tools: Many ad platforms now offer real-time reporting tools, which allow you to see how your campaigns are performing minute by minute. This is especially useful during high-traffic periods when rapid adjustments can prevent wasted spend. By keeping a close eye on your campaigns and making real-time changes, you’ll maximise holiday ad performance and ensure your budget is working as efficiently as possible.
Fortify Your Ad Campaigns for the Holidays With Xugar
At Xugar, we understand how critical it is to get your holiday campaigns right. From optimising CPC during holidays to fine-tuning bid strategies, our team of digital marketing experts is here to help you make the most of this high-stakes season. We’ll work with you to create tailored strategies that maximise your return on ad spend and drive meaningful results, even in the most competitive periods.
Partner with Xugar, and we’ll help you navigate the complexities of budget optimisation, real-time monitoring, and campaign adjustments so you can focus on fulfilment, or maybe take a holiday break.