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  • CPC, CPA, CPM, ROI, ROAS: What Does That Means ?

    When you start a campaign on Google or Facebook or other media, you would see a lot of acronyms like CPC, CPA, CPM, ROI, ROAS, and so on. These kinds of acronyms are on the daily basis of advertisers and marketers. These are pricing models for investing in advertising and Online Media spaces. Let’s explain each one.

    black and gray digital device
    Google is one of the biggest advertising platforms and use CPC and CPM bidding models.
    Photo by Torsten Dettlaff on Pexels.com


    The most important or commons are CPC, CPM, and CPA:


    CPC: This stands for Cost Per Click, and is well-known in Google, but also Facebook use it and other platforms. The concept of the CPC is charging you when a prospect clicks your ad. It’s recommended when you have goals such as getting more visitors and traffic to your website or to a landing page.


    CPM: Cost Per Mile or Cost Per Thousand. This is one of the most common models on the Internet and consists of charging you per each 1,000 impressions regardless of clicks. This model is great for brand awareness or recognition goals because it can reach a wide number of users that don’t buy your product or service at the moment but the ads keep on the mind of the users.


    CPA: or Cost Per Action or cost per acquisition. This model works as CPC but instead of clicks it counts the actions taken by the user that can be filled in a registration or download content. Use this goal for generate leads or get sales.


    There are other pricing models like Cost Per Action but are more specific. Let’s crumble them:


    CPL: Cost Per Lead. This pricing model is one of the friendliest on the web and is pretty like the Cost Per Action/ acquisition but for getting leads instead of another action. Although you can use the CPA model to get leads but if the platform has a CPL model and you want to get let, this is the type to plan.


    CPI: Cost per Install. Again, this is like Cost Per Action but focused on getting app installations and you just pay once for the installations.


    CPS: This bidding model is more used in Linkedin and stands for Click per send. This is the principal pricing model when you want to send Sponsored In-Mail to Linkedin. These kinds of ads are great for B2B campaigns.


    There are other terms but not are pricing models, rather they are formulas to analyze the performance and the advertising investments.


    CR: This stands for Conversion Rates. This is a calculation where you take numbers of conversions and divide them through the total numbers of interactions or click, then multiply by 100 to get a percent. Let’s suppose that you have an ad where people click it 100 times and get 5 conversions, then your Conversion Rate is 5% (5/100=0.05*100=5).

    ROI: Stands for Return Of Investment and has converted in the marketing global metrics, because at the end of the day what a business is looking for is more revenue. Thera are some differences formulas to calculate it but let take a look a basic formula represent it this way:


    ROAS: Similar to Return of Investment is ROAS, but focused on Advertising Spending. The ROAS stands for Return Of Advertising Spend and measures the efficacy of advertising campaigns. For the formula you have to take the gross revenue of the advertising campaign and divide it by the total of the campaign. Let’s say that you are a fitness instructor and you are selling fitness programs at $20, then you promote the program and invest $100 for that campaign. From that campaign you sold 7 programs that’s equal to $175. You will formulate it this way: (Revenue/Campaign Cost=$). It would seem like this ($175/$100=$1.75). In this example for each dollar the campaign spent it received $1.75. Also, you can convert the result on a percent, in this case would be 175% of ROAS.

    All these pricing models shown can vary with your purpose and goal for your campaign. Also, it would depend on the campaign format. Be sure to plan very well and determine which fits better for your advertising campaign.

  • Data And Market Research

    In the past, I was complaining about the use of market research or the use of data. With the mindset that data is the newest trend in the avenue, I decided to pay more attention to a “data-driven” implementation that uses just the market or marketing research. Later, I have to know that the data and Market research are complementary and nonexclusive from one another. Also, Data is part of the market research.  

    Data and Market Research should be part of your marketing approach.
    Data and Market Research should be part of your marketing approach.
    Photo by Lukas on Pexels.com

    Let’s talk about examples. Let’s think of a fitness studio or a gym that wants to open in a certain area. One of the first things that you should have thought about is to scout for the best location for it, and that would not be the first step. The first thing that the owner should do is take a survey of the locals and ask about their preferences about fitness or workouts. Maybe knowing that people love yoga more than weight lifting is an indicator to create a better experience for the audience or people that would consume that kind of service. Also, you can find that people wish to pay for a personal trainer instead of going physically to the gym. 

    Some owners including marketing managers get carried away by the gut feeling or their instinct and probably that leads to no desired result or a failed campaign. That is the main reason that all the people who lead marketing efforts or anything else in life have to be data-driven. Being data-driven leads us to know or discover real trends or particularities of our clients or customers and don’t be general. Typically, some people confuse or use data from a general basis to start any campaign and say that it is “doing” market research and it’s not. Market research is deeper and takes real-time, your time. And that is one of the reasons which some owners or marketing managers or executives avoid doing research and gathering data because they are more dependent on magical and instant results than taking their time to do the best approach to their clients.

    Let’s say that any trade association releases a report that says that the people love spending more time watching TV instead of using social media. That is a great start if you are seeking what kind of format of media you need to spread your message but you have to dig deeper with other variables such as the range of ages, household income, generation cohort and take that information and link it with your business. It’s not the same as the behavior of a supermarket consumer than a technology user. Here you can start with some surveys that cast lights or make an internet research that does the same. 

    There are some many tools that can help you to start as Google Survey, Survey Monkey, Qualtrics, and more

    Also, Tríptico can help you to plan and implement a market research execution. Let’s talk.

  • Why Get a Marketing Consultancy?

    crop businessman giving contract to woman to sign
    Photo by Andrea Piacquadio on Pexels.com

    First thing firsts. A consulting firm is similar to a consultancy, in the last case the consultant gives you advice and implements what he or she proposed to you. Also is a Portementu between Consulting and Agency. Let’s go then! 

    When you start a business or want to grow an existing one you will seek a lot of things or professionals that help you to achieve stuff that you don’t know clearly or don’t know how works, here a consultant enters the game. For example, if you need to do taxes the best way is paying an accountant or if you need a permit you hire a urban planner or if it is a legal issue you will pay for a lawyer. 

    Therefore the same should happen when you do marketing, advertising, branding or  communications. You have to get the input of a professional in media buying, design, or strategic planning that supports your plan. But also that professional has to recommend your assets accordingly to get measurable results.Yes, a marketing agency could do that too, but with a consultant you would have a person directly suggesting what is the best way to achieve your goals. 

    One myth when a business owner is reluctant to invest in marketing or communications is the highest cost. With the advent of the internet the cost of advertising and marketing efforts are relatively lower than years ago. In addition, the efforts on the internet are measurable and an owner can discover how their customer behaves and understand the reason for their behavior. 

    Having said that, why have you as a business owner hire a consultant? Let’s explain it: 

    1. The cost of hiring a consultant versus an employee or an agency is relatively low. That means saving time and money. 
    1. They have the expertise. A consultant through his or her knowledge knows better how to get and experiment to achieve results. 
    1. A consultant has dedicated time. They would focus on your project and recommend you the best alternatives because this is another point. The consultant would suggest a different alternative related to the goals that you are looking for instead to give you a straight plan. 
    1. Objectivity. The consultant would tell you their point of view. 
    1. Bring fresh trends. Working with a consultant will bring you with new and fresh insights and trends of the market and industry as long as it is part of your plan. 
    1. Bring support and guidance. Probably business owners starting or growing their adventure have a limited time to elaborate marketing or advertising strategies because there are other stuff that are so important such as finances or budgeting. Here a consultancy or a consultant become a big deal supporting that business owner to delineate their marketing strategies
    1. The Consultancy is focused on the implementation and its performance further the strategy. A consultancy don’t just give you the strategy, also they bring you a way to implement that strategy and 

    These are some of the reasons that you could invest in a consultancy for your business owner. Also if you are looking for one, we are ready to know you and talk about it:

    Time(required)

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  • Business Strategy: The Main Concepts

    Brainstroming Session
    Image by StartupStockPhotos from Pixabay

    When you are creating or starting a business you have to understand and know some criteria that are very important and critical in your idea. Starting a business is sometimes harder because permits and so on, but with a great business strategy it will not be a martyrdom. 

    You have to think about how the business would operate and how you and your overhead will flow with the operations. You know how the business will operate but you have to give to your staff a roadmap. You have to write down guidelines or a framework where the employees understand how the operations should work. Don’t need to be precise or very strict nor the longest document but the principal goal of this is to give the employees how the business works.

    plastic bottles and cleaning supplies for washing
    Photo by Anna Shvets on Pexels.com

    Is the turn of the product and services. You have a very clear how your business will operate, now is time to know who services or products you will offer or manufacture. With the frenesi of starting a business and having revenue you want to hoard all the services or products that you can develop. This is a common mistake, because you will get many different offers that can overwhelm your consumer. In this case start with one thing and then keep adding other products and services. Also, you have to think to develop product creating benefits and per se more value for the consumer. In this part, you would consider to make researchs or collect data to understand the consumer and market behavior as trends and processes. Remember your product and your services are the brain of your business. 

    Image by StartupStockPhotos from Pixabay

    Once you have this, start with marketing and sales. If Product and services are the brain of your portfolio, marketing and sales should be the spine of any business. What would bring income and revenues for your employees and business are the marketing and sales efforts. Some business owners ignore it because they think that a product or service would sell by itself because it will cover a need in the market and per see, the people have to buy it. But you have started new stuff and the people have to know how it works and add value. Marketing and sales will work to create awareness and relevance to your product or service. Within this strategy, you have to develop marketing and sales strategies according to your budget and your business or commercial goal. 

    We mentioned budget. That’s another significant part of your business strategy: the distribution of budget and capital flow. Already you work exposing your business products and services through marketing and start to receive revenue. Here with this strategy you have to reflect how you will deliver and distribute that money to keep growing. 

    These summarized strategies can be developed inside a Porter’s Five Forces diagram or other strategic planning model as a SOSTAC Model. In each industry or company, the strategy changes and some concepts are subsitituided.

    Do you want to know more about how to structure and start your Business Strategy?

    I invite you to a virtual orientation to talk further in how to delineate your strategy:

  • Types Of Google Ads Objectives

    Google Ads Logo

    Google Ads is today the principal revenue method of Google/Alphabet. 3.5 billion people search in Google per day. The platform lets access to the unlimited (or almost unlimited) pages of a lot of websites. Indisputably, Google is the most search engine uses in the world. Accordingly with Statcounter Google has a 92% of the search engine market share worldwide, at the top of Bing that has 2.69%.

    That insight makes Google one of the most important mediums to invest in and be considered in a paid media strategy. First of all, you have to check some aspects as your audience and market.

    One of the ways to maximize the Google Search Platform for your business is through the advertising platform Google Ads. With this platform, you have many options to promote and marketing your business that can fit perfectly with the objective that you desire or looking for.

    When you start using Google Ads, it would appear what mode of the campaign you prefer. You can select from two: Smart or Expert Mode, the first option is for a step-by-step, quick, and friendly guide if you don’t have expertise using the platform. On the other hand, you have the expert mode where you have to be specific in selecting your keywords, audience, type of campaign, and objective among others strategics components.

    The most important part of making the campaign is the first step, selecting the objective of it. Google Ads has 8 options:

    Sales

    This option increases your sales if you have a store online. With this objective, you can track your customer journey and their behavior within the website. You can check what is the product page most visited among other actions that can help you to convert a sale. For more accurate insights you have to get a tracking code on your website.

    Potential Clients

    Sometimes you need people that are interested in your product or service to get a push through a demonstration or a discovery call. This option is better for that goal. With this alternative, the client or lead wants more information to make a decision.

    Web Traffic

    If you have a medium, a blog, or a fundraising page and you want to attract traffic to generate buzz, this is the kind of goal to focus your campaign. With the web traffic aim, you would generate visits to your site

    Brand and Product Consideration

    This goal is fine when you need the audience to explore your product or service and, in the future consideration to buy it. Great for when you are starting a service or product.

    Brand Recognition and Reach

    For this aim you just want that the people don’t forget your brand and keep in the mind of the consumer. The conversion would be in a long-term period instead a short one.

    App Promotion

    If you are a developer and have a new app and want to get more downloads this aim is for you.

    Local Store Visits

    This is a hybrid option for local business as restaurants, car dealers or boutiques. They promote the store on search engine and the list of the alternatives that the user is searching for appears

    What is the better option for you? What are you searching for? Have your doubts about how to start your paid media campaign with Google? Google is a great platform to get your business at the top of the search. We can help you to figure out what is the best alternative for you.

    Let’s talk:

  • Email as a channel for engaging your clients

    Email Marketing would increase within the next years

    When you analyze the traffic of a website you can see where the traffic comes from. Typically, the analytics platforms as Google Analytics or SimilarWeb show you 5 sources of traffic: Search, Social Organic, Display, and Email, also we have direct traffic but that kind of traffic is not by referral as the others. Normally, from all of the referral traffic sources, email is one of the lesser referrals in comparison with social and search. Clearly having channels such as Youtube, Google, or Facebook among the top 3 websites most visited for almost one decade, we can find the reason because social and search are the top referral sources.

    But email is one of these distribution channels that is converting into an effective media channel. While the Internet users keep growing the email users too. This contrast with the “announcement of its death” decades ago (Which it is absurd because email is the unique form of registration in the web) with some media implementing the email as a good way to distribute content. This is the case with newspapers such as The New York Times or El País and exclusive email daily digest as The Morning Brew. 

    A Study realized to marketers, they answered (82%) that the email is a great content distribution channel. Another report shows that marketers in november 2019 saw an increase in email engagement in comparison with the previous year. The same reports reflect that the emails are also a good brand-connection channel.These are great starting points.

    That same report said that the investment in email marketing would increase by the next years. Although early in the 2020 we were impacted by the pandemic the rise of email has been continuous despite the lockdowns and some restrictions to facing the pandemic.

    Having written that, email marketing is a good way to engage with your clients. You have different mechanisms or tactics that you can use for that aim (reach your clients). The most common, obviously, is the simple/ basic email with the subject line with paragraphs with information and some photos or quotes, but there are more formats like eNewsletters, landing pages inside the email, or microsite with offers. There are many platforms and SaaS that help you to work and rely on your email strategy such as Mailchimp, ConstantContact among others.

    On Triptico we have the tools and solutions that you need to use email as an engagement and conversion tactic. Give us a call.