What is CPM in Marketing?
What is CPM in marketing? This is short for cost per thousand impressions or price per thousand seconds. It is a popular advertising method that most online and offline businesses use nowadays. But what is this all about? Why do you need to know it?
CPM in marketing means the amount of money that you will be charged by your clients to view your ad. This is how you get your profit. When your potential client is viewing your product, you are assured that he/she will remember it for a long time and he/she might even talk about it to his friends. The more times your potential client sees your ad, the more he/she is likely to buy from you.
CPM in marketing works best when you have a good product to sell. You can try to market your products using other resources such as search engine optimization and pay per click but those two are different. SEO will work well when you already have some backlinks on your website. PPC however, won’t work well unless you have lots of traffic on your site. So if you are new to online marketing, CPM might not be what you are looking for.
It’s easy to learn about CPM in marketing because there are actually tools that help you determine your market based on how many times your ad is shown. If you are selling a physical product, you can look at the average cost per thousand impressions and divide by the number of views to arrive at a rough number. If the number of views per impression is greater than ten, then you can consider your product or service as a “priced product”. However, don’t go overboard because you still want to create an impression so people will stay on your page to learn more about your services or products.
If you are trying out CPM in marketing, you will quickly learn that you can target specific groups to promote your offers. For instance, if you are a lawyer, you can put ads about special promotions for new clients as well as the renewal of existing clients. Once you set up your pricing structure, you can easily add in other advertising discounts such as a flat rate fee or a newsletter subscription. This way, you will only be charged for customers who opt-in to your mailing list. There are also many other ways to monetize your site such as selling advertising spots, displaying banner ads or having Google AdSense ads run on your page.
What is CPM in marketing is just one of the many topics related to online marketing that you will encounter as you start your career. It’s definitely something worth keeping your eye on but don’t let it get you down because there are plenty of great reasons to use CPM in marketing. As with any type of online marketing, you will only get out what you put in.