Preventing overspend has become one of the most urgent challenges in the digital media buying industry. Why?
- More and more advertising budget has been shifted from offline to online (COVID-19 certainly further catalyzed this trend)
- Digital media buying remains a very manual process, which means mistakes are bound to happen
- There are more and more digital media buying platforms every year and these platforms are getting increasingly complex
Indeed, mistakes in digital media buying have always happened. But now with the increasing amount of campaigns and digital advertising budget, there are more and more mistakes and these mistakes are getting more and more expensive.
And just looking at the number of discussions we have been having with prospects since BlackFriday (yep, not even a week ago) due to overspend, proves precisely the point.
Out of curiosity, we did a little research on Google, looking for existing answers to what to do to avoid overspend in digital ads. Good news is… many before us have quite thoroughly explored this topic, as Google gives approximately 22 million results.
However, the bad news is… None of the existing tips is efficient or automated or cost-saving, let alone preventive. Here are some examples of the search results:
- Don’t forget to turn off ads
- Monitor your campaigns closely
- Implement a peer review system
- Spend time and build a budget monitor on Google Sheet
- Do some data mining and discover spending issues through data anomalies
These are all great ideas, but they are not really cutting it because either they are just a kind reminder lying in the back of your head, or they are adding an extra layer of manual work, or they require lots of financial investment (to open more head counts, etc) and time.
Therefore, we decided to write this blog post to talk about why Grasp can be the ultimate solution to avoid digital campaign overspend, especially during this time of year when overspend occurs often and that it starts to hurt lots of businesses.
It’s true that there are some other ad tech solutions that involve “quality control”, among many other aspects that they touch on simultaneously.
However, what makes Grasp different is that ensuring operational excellence (i.e. no overspend, correct campaign setup, clean BI data) is the only thing we do. Preventing overspend is our mission, our bread and butter.
At Grasp, we provide a dedicated powerful set of automations just for the sole purpose of overspend prevention. Ever since the deployment of Grasp, all of our clients see a massive drop in their overspends, which is the most important KPI to show the effectiveness of our solution.
If you happen to be searching for an answer to campaign overspend on Google and you find this article, please reach out, and we can show you how we automate overspend prevention.