From the course: Machine Learning for Marketing: Essential Training

Unlock the full course today

Join today to access over 22,400 courses taught by industry experts or purchase this course individually.

Use case: Media planning and implementation

Use case: Media planning and implementation

From the course: Machine Learning for Marketing: Essential Training

Start my 1-month free trial

Use case: Media planning and implementation

- All media are not created equal. The average price of a digital ad is roughly $1.50 per click. A Superbowl ad goes for five million bucks for 30 seconds of airtime. The cost for a Superbowl ad in the 1960s was 40K, and so the price has really gone up, but so has the viewership of the Superbowl and the interest in the NFL. So a Superbowl ad still provides good value. My point is, there's different media at different price points, for different audiences, for different purposes. All media are not created equal. If we can show a high ROI, chances are much, much better that you can defend and grow your budget. That's where data can help. So here's a question. How do compare apples to apples between an ad on social media and an ad during the Superbowl? The answer, benchmarking. A benchmark is a standard rule of measure at a moment in time that sets the expectation for what the measure should be. The operative word there is standard and one such key performance indicator that you'll wanna…

Contents