Updated amount that has been spent on ads in the last period.
Formula:
(
Sum(New Ad Spend Report,Spend)
)
This KPI is usually present in every company since it’s a useful indicator of the marketing department’s budget. It will show the total amount of money that has been spent on ads for the moment so that you can easily manage your ad budget and readjust your expenses. To calculate it, this metric will take data directly from those channels where you have paid ads so that you can have real-time information on your budget spend and performance. Depending on the size of your business and your marketing strategy, the period measured might change. For instance, if you are a small company you probably rather keep an eye on this KPI on a daily basis. This gives you margin to reconsider your monthly strategy in order to get the best out of a restricted budget. For bigger companies, however, it might be more useful to display this month’s performance compared to the rest of the year.