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Paid media is one in which the agency/client invest in the purchase of spaces or prints in digital and social media. Costs vary widely and are related to the size of the audience. These costs involve some acronyms:
CPA: Cost per acquisition
CPA is the most important calculation for any business: it represents the amount you invest to get a customer, or make an effective sale—whether to buy a next-generation smartphone or to sign up for a charity race.
CPC: Cost per click
CPC is the cost you pay for each coveted touch on the screen, keyboard or mouse. In general, the more clicks you receive, the lower your CPC and the better your advertising campaign.
CPF: Cost per fan
The CPF is the metric that defines the price you pay for each fan (recurring user of that artist/product) that interacts with an advertisement made for a specific audience, normally used for more targeted campaigns for a specific audience.
CPM: Cost per mille/thousand
CPM is the price for every 1,000 potential customers who see your ad. It is the standard unit for evaluating the profitability of a campaign.
CPP: Cost per rating point
CPP is the amount to be invested to achieve a goal. It must be considered when defining the budget/planning, as it assesses how much the company will invest to achieve its goal, regardless of what it is.
CPV: Cost per view
CPV is the metric that defines the price you pay when a user watches your ad video, usually employed for ads on YouTube and news portals.
CPE: Cost per engagement
A more comprehensive metric than CPC, CPE is the average amount you pay for any interaction from the consumer: clicks, likes, comments, shares or whether they were extremely happy with the experience.
CPI: Cost per impression
The ad must be attractive for the consumer to click on it. The CPI is the average amount you pay each time a potential customer sees your ad.
To register the price table with these types of sales you should go to Settings > Media Outlets > Register a New Media Outlet or edit one that is already registered at the Price Table tab, then select Media Type: Internet and finally register the items in this table.
Digital media
There are other important metrics that can help your agency understand whether your digital campaign planning has performed well, such as:
CR: Conversion rate
To calculate your CR, divide the number of people who executed an action by the number of people who could have done so. Thus, if 100 people visited your online skate store and 65 of those visitors actually bought new equipment, the CR is 65/100, that is, 65%.
CTR: Click-through rate
To find your campaign's CTR, divide the number of clicks by the number of impressions obtained. A significant CTR indicates that the ad is relevant and is attractive to your audience.
ROI: Return on investment
ROI is the acronym used to indicate the return on investment metric. As the name implies, this indicator aims to show whether a company made a profit or a loss with digital marketing campaigns.
iClips integrates with RD Station Marketing, which helps you calculate the ROI. Click here and learn more.
Still need help? Simply reach us at help@rockcontent.com or through the chat platform and we will help you!