Cost per Thousand Impressions is key for evaluating and optimising advertising spend, guiding Product Managers to efficiently allocate budgets for maximal reach and impact. It ensures cost-effective strategies that enhance visibility and engagement, balancing spend with quality engagements for sustainable growth and profitability.
Methodology:
- Define campaign goals,
- Gather campaign data,
- Calculation Cost per Thousand Impressions,
- Campaign performance analysis,
- Benchmarking and comparison for efficiency,
- Iterate and optimise.
Benefits:
- Budget allocation efficiency,
- Strategic campaign planning,
- Performance benchmarking.
Limitations:
- Does not measure engagement or conversion,
- Variability across platforms and audiences,
- Potential for misallocation of resources.