Breaking Down Internet Jargon by Market Action Research
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The Internet can be intimidating and often times confusing. Not only is it comprised of complex interworking parts, but it is also filled with a list of terms that fail to be listed in the dictionary. In today’s blog we are breaking down three key terms that are of great significance in the marketing world and that can help take your business to new levels. The terms ‘cost-per-click’, ‘cost-per-impression’ and ‘cost-per-acquisition’ are relevant to not just the big players of Google, Facebook and Twitter but also to a plethora of other sites that can help with your marketing efforts in order to reach your bottom line. Let’s just dig in, shall we?
CPC means that you pay for each time someone clicks on your ad. You set a daily maximum bid which is the maximum amount you are willing to pay each day. CPC is most effective if you are looking to increase web traffic.
Cost-per-impression (CPI) or Cost-per-thousand impressions (CPM)
CPM means that the amount you pay is based on the number of times your ad is shown. You can set CPM bids to let Google know how much you are willing to pay for that set of impressions. CPM is best used for brand awareness.
This is the amount you are willing to pay for a ‘conversion’. Usually the goal is to have a visitor take an action on your website, whether it is to make a purchase or sign up for your mailing list. CPA makes it easier to track conversion costs; and you tend to see more conversions than you would with CPC or CPI; but the downside is that it tends to cost more than the alternatives.
In the end, it all comes down to what your particular call-to-action is and which campaign will help you reach your bottom line. There are multiple tactics for marketers to increase revenue online, but life gets easier when you figure out what the Internet has to offer and the value behind each term.
While these are the most popular ways to actively purchase visitor attention, there are certain elements in the backend that, when adjusted properly, could help raise traffic organically. Search Engine Optimization deals with adding specific, targeted keywords to the text and backend in order to seem more ‘relevant’ to search engines like Google or Bing. With higher SEO ranking, your website will appear higher up in search results – increasing the likelihood of being seen. To find out more about SEO, contact our team today!