Selecting the best advertising mediums for your company can be challenging. There are so many options available today, such as print, radio, television commercials, and the Internet.
How do you select the best advertising mix for your business?
Traditional media has created exposure for thousands of businesses for decades. With the Internet, you can take advantage of social media, content marketing, and search engine marketing.
There are many benefits of social media that indicate how social media is more effective than traditional media. These benefits include the ability to communicate with your consumers in a two-way format, developing a long-term following, and being able to quickly promote new products and services.
However, there is one defining metric that defines the better option between traditional media and social media. This metric is cost per thousand impressions (CPM).
CPM is an advertising metric that measures how many advertising dollars you must spend to reach 1,000 people. The goal of any advertising should be to reach as many relevant people as possible at the lowest cost.
In a recent cross channel media costs comparison, the CPM of various media channels were measured. The results were interesting. Take a look below.