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I manage a huge PPC campaign to a CPA metric. After everything is spent and revenue counted for the week, I analyse and report on what the CPA was. I usually refer to this as the "Cost to revenue ratio %" so I don't confuse people who aren't search marketers.
The goal is to not spend more than what the profit margin % is. If you cross that line, you're loosing money on the deal.
If the CPA looks good, I spend more money to maximize the seasonal opportunities or whatever. If the CPA sucks, I start shutting things down.
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