This particular month appears to have started on a Sunday so adjustments must be made to budgeting around having five Sundays in the month. In the end it uses the average spend amounts for that day of the week in order to come up with the projected spend. This sheet breaks out average spend per weekday, and takes into account the amount of days that have passed, along with the amount of days remaining for each day of the week. One way that a colleague of mine, Kevin Klein, who is known as a guy who doesn’t follow best practices, separates out day of week when budgeting is by utilizing an Excel sheet setup like below. How can you budget based on the day of week? There are a few ways to go about this and each way essentially does the same thing. In all of these scenarios the common denominator is that you can not treat each day of the week the same when budgeting. Some ecommerce accounts will see that Sundays (when a lot of people are shopping from home) are their strongest days in terms of sales so they might raise bids to receive more traffic on this day.
Some companies see conversion rate drops on the weekends so bids are lowered during these days.
An example of this scenario is business-to-business organizations, which normally receive less traffic on the weekends. What this formula does not consider is the different amount of clicks received by day of week, or the recent changes you have made to the account that might impact the spend levels.Ī lot of accounts receive a drastically different amount of clicks per day of the week. Therefore projecting out each day to be an average day in terms of spend. This formula gives you the current daily spend average and multiplies it by the total amount of days in the month. =(Current Spend/Amount of Days)*Total Days in the Month
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