Instructions This tool allows you to estimate how much budget you need to deliver on goals for paid media channels. Steps General - Depending on your business type and objective, choose either eCommerce or Leads/Sign Ups from the tabs at the bottom of the Tool - Enter the paid media channel name in column A - Enter the goal or the revenue target you hope to achieve by using this channel in Column B - You only need to enter metrics in the colored cells, don't change the formulas in the non colored cells eCommerce Budget Forecasts 1. Enter your AOV (average order value) for your paid channel, the typical amount people spend when they buy from you in Column C. You can get your AOV in the eCommerce section of your website Analytics Tool or by diving your total revenue by your total sales over a set date range When you enter your Revenue Target and AOV this will tell you how many sales you need to deliver on your goal in Column D 2. Enter the eCommerce conversion rate for your paid channel in Column E, this is the % of people who visit your website who also buy from you You can get your eCommerce conversion rate from your website Analytics tool for each channel or by diving total sales by total visits from that channel When you enter your eCommerce conversion rate, this will tell you how much traffic you need to get on your site to deliver on your goal 3. Enter your Cost per Click (CPC) for the channel in Column G, this is the typical cost for driving a click to your website from the paid digital marketing channel You can find your CPC in each paid channel in the ads dashboard, e.g. Facebook Ads Manager or Google Ads etc When you Enter your CPC, the tool will show you how much you need to spend to drive the traffic required to your website to deliver on your revenue target Leads/Sign Ups Budget Forecasts - Repeat the steps above without using AOV (as this is an eCommerce metric only). Use Lead/Sign Up Goal conversion rate for each paid channel instead of eCommerce conversion rate Note: if you don't have historical metrics available, e.g. AOV, conv rate or CPC, use industry benchmarks (which you can Google to find) to help with your forecast

important notes

class : Digital Marketing Analytics

our company that we need to find the above budget is : dicks sporting goods.

if you need more information please email me to send you the original copy of this question.

again it is Digital Marketing class, i picked other ECONOMICS because i did not see something close to Digital Marketing.

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