LinkedIn, the world’s largest professional networking platform, has rolled out a significant update that promises to be a boon for small businesses: the Dynamic Group Budget. This feature allows businesses to allocate a budget to a Campaign Group, which will then be automatically and optimally distributed across the various campaigns within that group.
Why is Dynamic Group Budget a Big Deal for LinkedIn Advertisers and Small Businesses?
Previously, each campaign on LinkedIn required a minimum daily budget of €10. For small businesses aiming to target multiple audiences, utilize diverse ad formats, and implement retargeting strategies, this could quickly escalate their daily advertising costs. Changing one of those parameters requires advertisers to set up a new campaign. So one audience that an advertisers wants to target with a single image, single video and carousel ad format requires €30 in daily spend minimum. And that’s for one audience, in one language without even retargeting them. With the new update, businesses can set a budget starting at just €30/day for the entire Campaign Group, making LinkedIn advertising more accessible and budget-friendly.
Optimized Ad Spend
The Dynamic Group Budget feature doesn’t just distribute the budget evenly across campaigns. It intelligently identifies the best auction opportunities for results across campaigns and optimizes the spend towards the campaign group’s objective’s optimization goal. This ensures that every euro spent is used effectively to achieve the desired results.
Flexibility in Ad Formats
The feature supports various Sponsored Content ad formats, including single image, carousel, video, single job, event, and document ads. This gives businesses the flexibility to experiment with different ad formats without worrying about individual campaign budgets.
Consistency in Campaign Settings
All campaigns within a campaign group need to have the same objective, bidding strategy, and budget type. This ensures consistency in advertising efforts and simplifies the campaign management process.
Recommendations for Best Practices
LinkedIn suggests analyzing results at the campaign group level for a better understanding of budget results. They also recommend starting with a daily budget of at least $100 USD or €100 EUR for the campaign group. €30 is the minimum, which is great for small businesses to test LinkedIn advertising. But at Root Agency we agree with LinkedIn that you shouldn’t spread your budget too thin. A €30/day campaign group with 20 differents campaigns, might not perform as you want it to. Moreover, it’s advised to run a campaign group for at least a week before making any changes, ensuring that the campaigns have enough time to gather data and show results.