Cost per click
Also referred to as pay-per-click, or ppc, this type of KPI works by paying your marketer each time a certain number of prospective customers click on links leading to your webpage.
These links could appear anywhere on the web, and depending on how your marketing plan is implemented, it could be very lucrative for you. By using this KPI, you can determine exactly how many people are clicking on your ads, as well as where those ads are that are being clicked on.
Cost per impression
Businesses use cost per impression to determine how effective a particular ad or marketing campaign has been. It's such a popular way for various companies to improve business that many platforms have created a bidding process due to high demand.
Like cost per click, cost per impression enables you to determine how many impressions are being made and exactly where these impressions originated.
Cost per acquisition
This form of marketing describes when a marketing company isn't paid until a business acquisition has been made. For each acquisition, a company pays a predetermined amount of money. This KPI enables you to determine exactly how much you're paying out in acquisitions and if your ads are performing well or require tweaking.
Cost per lead
Cost per lead, like cost per acquisition, only requires a company to pay their marketer when relevant leads are provided. There is a predetermined amount that must be paid upon the receipt of the leads. Your marketer might also use what's referred to as a marketing funnel, which can provide specific data regarding what a prospective customer experiences as they encounter your ads.
Cost per sale
Each time a sale is made, a company must pay their marketer a certain amount of money that was agreed upon in advance. Cost per sale can significantly reduce the overall marketing costs for a company, which is excellent for any sized company, but especially for new small businesses that may not yet have a great deal of capital.
Why you should invest in performance marketing
Performance marketing has many benefits, which is why you should seriously consider investing in it.
The absolute biggest benefit of this form of marketing is that there is no need to pay for marketing until successful transactions have transpired. This could be especially beneficial for small businesses that are just starting out since performance marketing enables them to see some results and possibly earn some money before they need to pay.
Another benefit of performance marketing is the fact that it's easy to track and measure how well it's working. This is a major advantage, as some types of marketing are difficult to track and measure. The ability to track and measure how well a marketing plan is working is important because if things need to be changed, then it's easier to determine what to change.
Furthermore, marketing companies aren't going to work for free, so they're going to work hard to make sure their campaigns are successful for you. When the campaigns they created are successful, it's a win-win for you and your marketer, as you both get paid.
Get your business out there
So, if performance marketing sounds appealing and you think it could help you to achieve your business goals, then you need an excellent marketing company like Mailchimp. Mailchimp has been helping businesses achieve their goals for many years.
Not only can Mailchimp develop and implement a performance marking plan that will quickly increase your sales, but these marketing experts can customize any marketing strategy for you. A carefully customized marketing plan developed by Mailchimp can help you to achieve, if not exceed, your goals.