Post by tamzidaakter47 on Feb 13, 2024 3:56:16 GMT -6
Knowing your way around the internet is really an art these days. A lot of abbreviations and expressions are coming at us from every side, which can cause one big chaos in the head. Do you know what ROI, KPI or CPA is? Congratulations! However, few marketers can use it to their advantage. How to make money and not make money or effectively finance your online campaigns But everyone encounters it. You need to increase sales. The planned budget for the campaign will immediately be discussed .
If you were to ask agencies about their experience with Phone Number Data budgeting, most of them would give you unflattering statistics. According to Katarína Molnárová from the digital agency ONLINE TORO, in up to 90% of cases, the client demands that the price offer and the budget be determined by the agency. Alternatively, the budget will be limited by the finance department (or superior) without any rational consideration or calculation of return. Unfortunately, such cooperation is already doomed to extinction even before it began. The goal of every agency should be to establish cooperation in the form of WIN-WIN . Setting the budget by "That's why we also need to know the maximum price for conversion, the average cost for 1 order, the purchase price from the supplier, or the time schedule in which it is necessary to reach the sales goal," added Molnárová. The agency is here to be able to give the client an advantage in the investment in the marketing campaign in accordance with the set KPIs, as well as to be able to re-evaluate the choice of campaign or marketing channel in accordance with the set budget in view of the given time schedule.
Key factors in determining the campaign budget fig. 1: Choosing a campaign based on the set budget and the ability to meet KPIs A dictionary of basic terms that you need to calculate in order to make money and not overwork 1. DETERMINATION OF THE PRICE FOR THE GOOD / SERVICE the purchase price of the goods from the supplier + average cost per order [divide the total monthly costs of running the company by the average number of orders per month] + average profit from 1 order = the total price that customers are willing to pay for a product or service 2. MAX CPA - maximum cost per action - indicate the maximum marketing costs per order (action) that can be used in the campaign If you know how to calculate MAX CPA, you can easily determine the necessary campaign budget. It is easy to then calculate the maximum amount you can invest in the campaign to make the investment profitable. If you know how to determine the MAX CPA, you can save up to thousands of euros, hours, or even months of your work for campaigns made by trial and error.
If you were to ask agencies about their experience with Phone Number Data budgeting, most of them would give you unflattering statistics. According to Katarína Molnárová from the digital agency ONLINE TORO, in up to 90% of cases, the client demands that the price offer and the budget be determined by the agency. Alternatively, the budget will be limited by the finance department (or superior) without any rational consideration or calculation of return. Unfortunately, such cooperation is already doomed to extinction even before it began. The goal of every agency should be to establish cooperation in the form of WIN-WIN . Setting the budget by "That's why we also need to know the maximum price for conversion, the average cost for 1 order, the purchase price from the supplier, or the time schedule in which it is necessary to reach the sales goal," added Molnárová. The agency is here to be able to give the client an advantage in the investment in the marketing campaign in accordance with the set KPIs, as well as to be able to re-evaluate the choice of campaign or marketing channel in accordance with the set budget in view of the given time schedule.
Key factors in determining the campaign budget fig. 1: Choosing a campaign based on the set budget and the ability to meet KPIs A dictionary of basic terms that you need to calculate in order to make money and not overwork 1. DETERMINATION OF THE PRICE FOR THE GOOD / SERVICE the purchase price of the goods from the supplier + average cost per order [divide the total monthly costs of running the company by the average number of orders per month] + average profit from 1 order = the total price that customers are willing to pay for a product or service 2. MAX CPA - maximum cost per action - indicate the maximum marketing costs per order (action) that can be used in the campaign If you know how to calculate MAX CPA, you can easily determine the necessary campaign budget. It is easy to then calculate the maximum amount you can invest in the campaign to make the investment profitable. If you know how to determine the MAX CPA, you can save up to thousands of euros, hours, or even months of your work for campaigns made by trial and error.