How Ads spend worked before monthly budget limits

 Let’s quickly refresh on what spend on Google Ads looked like prior to this new tool.

Before monthly budget limits, every campaign in Google Ads was required to have a set daily budget. That daily budget guided Google on how much it should spend per day to average out to a projected monthly spend. However, depending on the temperament of the ads auction, daily budgets would ebb and flow—even spending higher than anticipated.

This is because Google is programmed to dynamically adjust your spend for the day based on what’s needed in order for you to perform. For example, if you set a daily budget of $10, you may end up spending $8 one day and $12 the next to average out to a rough $300 for the month.

However, if cost of bids goes up due to external factors like competition, then you can easily go over that daily budget consistently resulting in an overall higher spend for a 30-day period than expected.

 
 
Did you know that the Google Ads now gives you visibility into your daily spend? Learn how to use the Google Ads budget report here.

Is the monthly spend limit right for you?

In order to implement a monthly spend limit, you’ll need specific database by industry to still have your daily budgets set up. But, if you’re unsure whether a monthly spend limit is the right move just yet, let’s quickly compare how your campaigns would function with or without this feature.

Daily budgets with no monthly account spend limit

Essentially, this works like the campaigns we already have, know, and (in some cases) love. These are the campaigns that are already familiar to us, as they have always required a daily budget without the new monthly spend limit feature.

The benefits

Aside from already being familiar to us, campaigns that use this model have additional benefits:

  • Less restricted: These campaigns are less restricted than campaigns with a monthly spend cap. Google will only be considerate of the daily budget which allows for wiggle room for you to continue growing your reach.
  • You can adjust your daily budget at any time (though this applies to monthly spend limits too)
  • Unlike the monthly limits, daily budgets are set at the campaign level. So, you can manage spend campaign-by-campaign if one takes priority over the other.


The drawbacks

Here are some drawbacks to campaigns using daily budgets but no monthly account spend limit:

  • Since daily budgets have the flexibility to go over what they’re set to, it can be harder to keep your spend in control as Google takes reign over your costs.
  • While some may prefer to manage budgets campaign-by-campaign, if you have a larger account, it can be hard to keep track of your many different budgets for each.
  • Daily budgets that are set too low can be just as limiting as a low monthly spend limit since either of those could cause your campaign to show less, causing a loss of impression share due to budget.

Daily budgets with a monthly account spend limit

Now, take your regular campaigns with just the daily budgets, and tack on an account level monthly spend limit on top of that. This works by having Google’s algorithm use your daily budget for campaign level spend and bids while simultaneously tracking overall account spend to keep to your monthly budget limit.

The benefits

Using the monthly budget limit, here’s how you can benefit:

  • Now you can finally manage how much you’re spending in total on Google Ads!
  • Whether you have one or many campaigns, you will never have to pinpoint where spend is bleeding out to stop it.
  • In a way, monthly spend limits act as an extra safety measure to ensure you keep costs in a comfortable spot.
  • If you were ever wary of using Google’s automated tools like Smart Bidding or Smart Campaigns, the new account level monthly spend limit makes these features more approachable since you know you’ll still have the upper hand when it comes to overall spend.

The drawbacks

While the monthly spend cap and daily budget work hand in hand together to optimize, at the end of the day your monthly spend limit will override and stop your campaign from running if you hit your limit. This means that:

  • If your spend limit is so low that your campaign hits it halfway through the month, then your ads will stop running for the remainder of the month.
  • It may be difficult to manage for larger accounts juggling multiple daily budgets on top of the monthly spend limit.
  • You’ll need to set aside time to stay on top of your monthly spend limit as it’s not just a “set it and forget it” type of feature. You’ll want to check on it in relation to your historical spend to ensure it’s not too high or too low.

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