The Days of CPM are Over…

The days of CPM (Cost Per Thousand Impressions) are over. Today, new media allows for CPA (Cost per Acquisition), otherwise known as conversions. The value of CPM today is not how many eyeballs see the brand/message but, how many actually convert and engage with the brand, to experience and create buzz about it.
The Art of Monetizing Eyeballs into Dollars is one of creating compelling story telling that turns targets into conversions. You can have a million people see your brand but, how many of them actually put forth the effort to engage with it, try it and talk about it, is the real crux of the matter.
I read somewhere that 16% of nightly television viewers change brands based on that one night of TV advertising. The fact is that they were already disenchanted with the results from the current brands they were engaged with and were simply waiting for something better to come along and give them a reason to change and try something different.
Here are a few necessary elements that have to be in place for a brand conversion to happen.
First the brand must offer something that the target wants or needs.
Then, the brand needs to create a story about what it offers, in a way that compels that target audience to react to it.
Next, the brand engages with the audience by explaining that its benefits are so great, the target audience feels compelled to try it.
Finally, and most importantly, to convert the audience, the brand makes an irresistible offer to complete to marketing transaction with a call to action.
Once the audience is engaged with the brand and experiencing whatever it promoted, the brand must deliver on the promises that it made to get the targets to try it in the first place. Then, the battle begins to keep the new brand users and turn them into active advocates and brand ambassadors. But that’s another story…