When starting a business selling services or products, you invariably come upon the question of how do I market this. When this question comes to mind the usual marketing strategies generally come to the forefront. These are search engine optimization (SEO), and word of mouth. If you have a little bit more money you start to look at television and radio. Though for all intensive purposes radio and TV are wasteful expenditures unless your target market is everyone and you are an Apple or a FORD.
The return on investment on a digital campaign like SEO, or CPC will be higher compared to a mass broadcast to a general public. When we start to talk about digital marketing strategies, SEO immediately grabs the available space, but what I want you know about is of the other methods out there, such as CPM, CPL, CPV, and affiliate marketing. I’ll primarily discuss CPM and CPC marketing and in the next article write about CPL, CPV, and using affiliates to market your services and product.
Realizing the value of CPM Marketing for your business.
CPM marketing is the acronym for cost per mille, which really means the advertising cost per thousand views. This marketing model is based on impressions, basically how many times your ad is shown to people and you pay per 1000 views. The CPM marketing model is great for when you want to increase your ad visibility. Think of it like this; you have a targeted group of people that you want to reach and you want them to see your brand so that your brand is impressed upon their mind.
The goal of this marketing model then is to show your ad as many times as possible to this group of people. The mechanical value of this marketing model is this; because these targeted groups of people have seen the ad or brand, when they are out in the real world they are then more likely to have familiarity with your brand.
CPM examples in the real word
During political run-offs you will see this a lot, invariably politicians with sufficient budgets start to advertise a lot. The hope is that the more you see a certain face associated with a political station topic, place, etc, when you finally go to vote, that face the name, and their stance is all that you will remember.
Small businesses can use the cost per mille (CPM) method effectively through social media channels such as Facebook and other social channels that the target market is likely to use. These platforms generally have a way to target any group you want based on varying segmentations, from there just bombard them with your brand or message, albeit tactfully.
CPC Marketing and its value in your marketing model
CPC marketing is the acronym for cost per click marketing. CPC marketing is one of the most popular advertising and marketing methods to inform people of a product and see results. You the reader are no doubt familiar or have heard of Google Adwords, which is responsible for the inconspicuous text ads you see on the top and right hand side of your search on Google. These are sponsored ads, meaning that their position is in relation to what you’re willing to pay if someone clicks on your ad, generally speaking.
A reason to use CPC marketing
Here’s the gist: So lets say that you have a lawn mowing service, and you want to get more people who need their lawns mowed to call you. You’ll put up a text ad through the Google Adwords system and set the cost you are willing to pay when someone clicks on the ad. Once your CPC Google Adwords campaign is set, when someone types in ‘Local lawn mowing service’ your ad will then appear. Though bear in mind that in order to be successful and have a good return on your investment and actually have people calling you, you’ll want to be absolutely sure on how to convert visitors into paying customers.
Many businesses big and small use this because it is a quick direct way to get traffic to a site. The CPC marketing method allows you to test different scenarios, strategies, and outcomes and get real-time results in quick order.
These two marketing methods are often overlooked, CPM especially, though these methods can help your marketing better strategize and shape the results of a marketing campaign. Knowing about, and understanding what each marketing method achieves alone can help you better reach your customers where they are at substantial cost savings.