I added costs associated with a few paid programs we ran, and in analytics it spit out Cost per new name, cost per success, and cost per member.
Can someone help with the definitions of those terms.... and how they compare? I'm having some confusion
Here is a quick overview:
|Program Cost||Total period cost of the program|
|Cost per Success (New Names)||Average cost per lead acquired by the program AND achieved success in the progression of the program|
|Cost per Success||Average cost per lead who achieved success in the progression of a program|
|Cost per New Name||Average cost per lead acquired by the program|
|Cost per Member||Average cost per member of the program|
Cost per member = total number of members in your program / cost of your program.
Ex: your program cost $100 and had 10 members. Cost per member = $100/10, or $10/member
Cost per success = This might be the same as cost per member, but it's cost per member who gets to a success status.
Continuing on the example above: only 5 of the 10 members actually downloaded your content. Cost per success = $100/5, or $20/success
Cost per new name = This program was the acquisition program for people.
Continuing on the example from above: only 1 of the 10 members was someone you didn't know before this program (wasn't acquired by the program). Cost per new name = $100/1 or $100/new name.
This should highlight why acquisition program identification, and also success status marking is so important. Hope this helps!