Paid Advertising Recommendation for Buhi Supply Co. The Director of Digital Marketing for Buhi Supply Co.
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Question:
The Director of Digital Marketing for Buhi Supply Co. is curious if there's an opportunity to improve the return on investment of the paid advertising budget for Buhi in the upcoming year. You've been asked to analyze the data and make a recommendation for them to read when they're away on an upcoming business trip...
Buhi's budget for paid advertising this past year was approximately $11,000 and it's currently invested in two strategies across six 3rd party Channels:
Paid Search (SEM)-Google
Paid Search (SEM)-Bing
Paid Social-Facebook
Paid Social-Instagram
Paid Social-LinkedIn
Paid Social-Twitter
With a performance-focused goal of maximizing the number of Conversions, the director believes there's an opportunity to streamline the number of paid advertising Channels from six this year to the three for next year. The total paid advertising budget for next year is 'flat' at $11,000; however, the Channels have changed their terms, and each one requires a minimum investment of $3,000.
Analyze this year's data following these questions to enable you to make a data-supported recommendation for next year's paid advertising budget:
Questions:
1. What are the three Channels you'd recommend continue to be used next year?
2. How would you allocate the budget across these Channels to maximize the number of Conversions?
3. What's the forecasted change in Conversions next year based on this 'top three Channels' paid advertising strategy?
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