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Campaign Measurables - Coursework Example
Advertisers make use of these metrics prior to commencement and after an advertising campaign. Such metrics act as a permanent record, for reference purposes, and aids advertisers in…
The measure for the profitability is through an increased Return on Investment (ROI) and in marketing terms- Return on Marketing Investment (ROMI).
There are several differences between GRPs and IMPs. To begin with, GRPs is the frequency or the number of times an advertising campaign reaches its target audience. It measures the impact of the advertising campaign on its audience. The real measure of the impact is through the sales that a particular advertising campaign is able to make in relation to a given product. GRP is a percentage that results from the multiplication of the reached target audience and the exposure frequency. On the other hand, (IMPs) represent the exposure of a particular advertisement or commercial to persons within the target audience (Tellis, 21). It is measured in terms of cost incurred to reach a thousand people; Cost per Thousand (CPM) or the cost incurred to reach a certain percentage of the audience; Cost per Point (CPP).
The measure chosen by advertisers when pitching to clients is significant for the success of a campaign. It needs to be consistent with the annual goals of a campaign. This enables prior preparation in relation to the costs and the number of leads required for a campaign. Advertisers consider the ability of a given measure to hit the specific goals set (Tellis, 45). For instance, in the high profitability goals, the preferred measure needs to deliver a high Return on Investment in consideration of the overall budget. The chosen measure needs to focus on several prospects that ensure the achievement of optimum results. For instance, is should ensure a cost effective program through the conduction of a cost-benefit analysis. The benefits incurred when pitching to clients, needs to outweigh the costs incurred.
Acquisition rate is a measure of the increase or growth in sales from a given ...