We often have goals to meet in our advertising campaigns. These goals usually have a time frame, meaning they are goals for “this month” or from the 15th of this month to the 15th of next month, etc. In order to estimate how we are doing with that goal based on how many days have passed in the month and how many days remain, we need to use Custom Fields of the “Date” type.
Example: Calculating the Daily Budget for Meta
If we want to estimate what the daily budget for a Meta campaign should be in order to meet the monthly budget, we must:
First, create a “Number” field with the monthly budget and then fill in the value in the table:
Secondly, have Meta's spending metric available in the table:
Third, create a custom formula field with Balance = Budget - Amount Spend.
Fourth, create a custom date field for today:
Fifth, create a custom date field for the last day of the period:
Sixth, create a formula that calculates the remaining days:
Finally, calculate the daily budget = balance / remaining days:
The Daily Budget will be updated in real time as the days go by and the Spending Goal $ and remaining days are updated:
Using the same logic, we could calculate how many conversions we would need to generate to meet the monthly target.
This works in the same way for the Overview by Client or Overview by Campaign tables.
Period Progress:
This is a custom date field used to represent progress over time within a specific tracking period.
This field allows you to view and measure where you are in the current period, which is useful for:
Compare actual progress vs. expected progress on key indicators or metrics.
Make informed decisions about whether a team or project is ahead of schedule or behind schedule.
Align efforts and adjust priorities based on the time remaining in the period.
This field calculates the percentage of the current period that has elapsed (for example, the current month). It is useful for comparing cumulative metrics with the time available.
For example, if today is the 15th day of a 30-day month, the field will show 50% progress.
Here you can see the most frequently asked questions about the Overview module:
Want to learn more? Find additional information, resources, and guides on our website: https://mastermetrics.com/
If you'd rather talk to someone from our team, feel free to book a call at your convenience: https://calendly.com/-mastermetrics-sales-support/trial