5-20-2013
Do you really know the value of each click for your display or streaming ads? How about the value of your Facebook likes or mobile subscribers?
Many radio AEs still struggle with selling digital advertising, so they give it away as a ?value add? because they aren?t confident enough to explain its true value.
Here are a few handy online calculators to help AEs better explain the value of digital advertising to their clients, especially when it?s sold in combination with radio advertising.
Valuing Online Impression Inventory
Radio AEs today face a lot of pressure to sell online display and streaming impressions. How many impressions are enough to impact the client?s goal? What is the optimum CPM rate?
ClickZ.com provides a couple of online calculators to eliminate the guesswork of valuing online impressions. Their CPM Calculator allows you to input the average CPM rate for your station?s website along with the cost of the campaign or the amount your client is willing to budget to determine the number of impressions to deliver.
CPM Calculator
http://www.clickz.com/cpm-calculator
Using ClickZ?s CPA Calculator, you can show your clients the customer acquisition cost using your average click-through rate for your display or streaming ads. One of the inputs for this calculator is the ?conversion rate? or the action your users took once they clicked on the ad, like registering for one of your events or entering a contest.
CPA Calculator
http://www.clickz.com/cpa-calculator
The Value of a Like
Do you know the value of each one of your ?likes? on your station?s Facebook page? HubSpot has a calculator to help you communicate to your clients the value of your Facebook audience.
Before you use this calculator, you?ll need to know the conversion rate for your Facebook page. You can calculate this by dividing the number of Facebook visits in a given period and how many people entered any promotions you offered via Facebook during that same period.
To find your conversion value, determine the cost of maintaining your Facebook page over a given period and divide that by the number of people that registered for any of your promotions on Facebook during that same period.
Sounds more complicated than it is! Once you know the value of each of your likes, you?ll be able to better communicate the value of your Facebook audience to your clients.
Value of a Like Calculator
http://valueofalike.com/
Showing ROI of Mobile Advertising
More and more radio stations are now offering an array of mobile advertising opportunities to their clients. Mobile advertising is growing at an astonishing pace. Many consumers now prefer accessing local business information from their mobile device rather than their desktop computer.
Google is so concerned about the growth of mobile advertising that it recently launched an online calculator to help local businesses better understand the growing importance of mobile marketing.
It also happens to be a fantastic tool for radio AEs to use when explaining the value of their own mobile advertising products!
Google?s Full Value of Mobile Calculator
http://www.howtogomo.com/fvm/en/d/
If you are into apps, check out Soulver. Unlike other calculators you can use words like ?months? instead of translating them into a numeric value. It?s almost as if you can perform calculations as you talk with your clients about various campaign scenarios!
Stephen Warley is the founder of inboundarts.com, a research and training firm dedicated to helping radio broadcasters use digital tools to generate more qualified sales leads. He is also the founded of LocalBroadcastSales.com in 2008. Email him at stephen@inboundarts.com or connect with him on LinkedIn.
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