If you’ve ever wondered how you were doing against the other media buyers out there, this email is for you!
You see, we always wanted to know exactly how our performance stacked up to the average facebook media buyer, but how can you tell?
It’s not like there’s some magical index to which you can compare your efforts and see if you’re being an efficient, effective media buyer or just wasting money…
This week, we’re launching the Consumer Media Buying Index.
It works like this:
Every week we’ll look at key metrics from a “basket of goods,” just like the Consumer Price Index. That basket of goods will include a variety of facebook media buying accounts to which we have access, both from eComm and Lead Generation businesses.
We’ll take an average of averages from their CPMs, CTRs, CPAs, and other key metrics. This will produce a diversified weekly baseline against which media buyers may compare their results.
This information becomes very useful to the media buyer when observing the ‘delta’ or change in these metrics over time.
Example. John’s CPAs have been increasing every week. Since last week, his average CPA has gone from $50 to $55, or ~ 10% increase. John wonders if he’s doing something wrong, or whether there’s some greater socio-economic context at play. John consults the CMBI and discovers that the average CPA has increased 4% week over week. John can then assume that roughly 4% of his rise in CPA is due to environmental or economic factors, and the other 6% probably is a result of inefficient strategy.
As you can see, this is highly useful information. Particularly when you are outperforming the index. For instance:
John’s CPAs have risen ~ 6% week over week, but the average CPA in the index has risen 8% during the same time frame. John is now happy because he can demonstrate to his client, with data, that he’s actually 25% more efficient than the market. Ergo, the client is realizing gains by utilizing John’s media buying services that he would not have otherwise realized.
This is just another example of how Hemon Media Group is always thinking about media buyers and the problems they face. We hope you’ll use it, and enjoy it.
You can view the Consumer Media Buying Index by visiting this web page.
We hope you’ll bookmark it and visit every week. We’ll update the numbers each Monday morning, and you’ll always have fresh data.