The Optimize Budgets tool allows you to efficiently assess and adjust budgets for both individual accounts and multiple accounts (portfolios) across various platforms.

The tool analyzes the spend on campaigns and shared budgets within your accounts. It enables you to optimize your budgets by assessing the spending capacity of both individual and shared budgets. Additionally, the system identifies portions of your budget that are unlikely to be fully spent and reallocates them to campaigns that still have room to grow. This helps ensure that budgets go toward campaigns with the strongest potential for improved performance within the selected date range, leading to more effective budget management overall.

Enhance Efficiency with Smart Strategy Suggestions: Get instant, data-backed budget reallocation suggestions. Optmyzr tests multiple scenarios for you and highlights the strategy with the highest potential impact.

Establish Control with New Constraints Settings: Define specific limits on budget adjustments at various levels, including account, portfolio, and individual budgets, to maintain better control over your spending.

Streamline Management with Bulk Actions: Save time by executing bulk operations such as applying specific percentage changes across multiple budgets simultaneously.

Make Informed Decisions with Media Mix Charts: Utilize insights from media mix charts to understand how budget changes will impact various platforms and channels, enabling you to make informed, strategic decisions.

To access the new Optimize Budgets tool, navigate to the Budget Management section in the left-side menu and click on 'Optimize and Reallocate Budgets.'

You will land on the 'Optimize Budget' tab of the 'Budget Control Center'. You can switch tabs and navigate to the Budget Dashboard directly from here.

The Optimize Budgets tab includes two sections, Individual Budgets and Summary & Media Mix Charts. But first, let's walk through how you can set up the tool by selecting budgets, optimization strategy, date range, etc.

By default, all budgets from the selected account or portfolio will be displayed and selected for optimization. You can click on the 'Budgets Included' button to select specific budgets that you want to include. You will have the option to group budgets by portfolio or accounts, and filter by status, type, name, and cost.

Click on the 'Edit Limits' option to set percentage limits for how much you want the total account budget and individual budgets to change. This ensures that the suggested adjustments will not exceed the thresholds you specify.

You can control how much budgets are allowed to increase or decrease by defining limits at three levels:

By default, the system will select the current budget cycle, but you can select a different date range.

Note that projections and optimization suggestions are not available for past dates, but you can manually edit budgets. You will not be able to see the projected impact for those edits.

You can also offset the date range by a certain number of days to account for conversion delays.

The Optimize Budgets tool offers two system-generated optimization suggestion strategies

You can also make changes manually and optimize budgets without Optmyzr suggestions as well. This strategy gives you full control over budget changes, without any system inputs.

Once you select an optimization strategy and edit limits, the system generates budget optimization suggestions. You will be able to see the overall impact of applying the suggested changes.

The Individual Budgets tab is where you can view details of suggested changes and their impact on individual budgets. You will also be able to edit and lock certain budgets to exclude them from the overall budget reallocation.

If you’re satisfied with the current value of a budget and don’t want it to change, you can lock it. Locked budgets are excluded from optimization suggestions, while the rest continue to receive recommendations.

By default, budgets that were modified in the last 7 days are automatically locked to prevent unintended changes.

Utilize the bulk actions feature to apply changes to multiple budgets at once. You can increase or decrease budgets by a specific percentage or reset them to their current values. You can also lock and unlock budgets at once.

You can download and share the budget reallocations suggestions as a CSV file.

You can choose which columns you'd like to see in the Individual Budgets tab using the column selector option on the top left of the table.

The 'Summary & Metric Mix Charts' or 'Detailed Impact Summary' tab in the Optimize Budgets tool provides a visual representation of how the suggested budget changes will affect different platforms and channels. It includes:

Expected Impact on Key Metrics: Projected changes in the total budget and other key metrics based on your proposed budget adjustments.

Similar to the column selector in the Individual Budgets tab, you can choose metrics for which you'd like to see projected changes.

Budget Change by Channel: Understand the implications of budget reallocations on specific advertising channels.

Once you've gone through both the tabs and understood the overall impact of the suggested budget adjustments, you can apply changes. You will see a final warning informing you how many budgets will be impacted by applying the changes.