Cost per thousand
Let’s say that an email campaign costs £6000, and you predict it will bring in 18000 responses then you need to divide £6000 per 18000 and then multiply it by 1000. The result will be £333 per thousand.
Or again, if a social media campaign costs £5000 and we predict it will bring in 10,000 responses the £5000 / 10,000 x 1000 = £500 per thousand.
This process reveals that the email campaign is better value per thousand than the social media campaign.
Introduction to Marketing: Fundamentals of Marketing
Introduction to Marketing: Fundamentals of Marketing
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