The Logic behind Implementing Newspaper Advertising KPI

For a long time coming now, newspaper advertising has been one of the effective methods when it comes to the provision of updates on news events and classified ads. The great thing about news advertising is that news events and classified ads here can take all sorts of forms. It is because of this that newspaper advertising is indeed one of the first-ever mediums that have been used by people worldwide. Since its inception, the newspaper has been one of the most preferred mediums used by people in advertising services, products, jobs, and so many more. But just because newspaper advertising is so popular does not necessarily mean that it is indeed as effective as it should be. Thus, there is a need to implement newspaper advertising KPI or key performance indicators, to be able to accurately measure the performance of newspaper advertising.

By definition, key performance indicators are quantifiable measures that are used in determining the progress of a certain company towards the accomplishment of corporate goals and objectives. Any business in any industry would certainly come up with their own goals and objectives that they want to achieve. This is because these goals give direction and meaning to the establishment of the business itself. However, as time goes by, it is actually quite easy to lose track of these goals and objectives. With the many issues and concerns that will surely sprout about, the management of the company and even the founders themselves would focus on solving present problems or issues at hand. The implementation of an effective balanced scorecard that contains relevant KPIs is then needed, to constantly remind employees of the corporate goals and objectives they have sought to achieve from the very beginning.

The same concept is applied in newspaper advertising. Newspaper companies will have to efficiently come up with relevant key performance indicators, to guide the progress of the company along the achievement of corporate goals and objectives. It just so happens that newspaper companies would have different sets of goals and objectives that they would want to achieve. This is understandable even if these companies do belong in the same industry. No two or three companies would have the same mission, vision, goals, and objectives, right? Since KPIs are aligned with these differing aspects, then it is also expected for these quantifiable measures to vary to some extent.

The size of the newspaper ad and the cost per response are amongst the common metrics used when implementing newspaper advertising KPI. These metrics actually play a huge role in determining the most effective form of advertising that there is in newspapers. For instance, an ad that occupies a whole page attracts the attention of roughly 80 people. However, the ad that just takes up a fourth of a whole page is enough to attract the attention of roughly 60 people. No 1:1 ratio is implemented here at all. It would then make sense to include ad size as one of the newspaper advertising KPIs to use.

As for cost per response, you have to analyze the cost that it would take to entice significant number of responses. In the same example, it is clear that the fourth-page ad is more effective when it comes to cost per response. Having this as part of the newspaper advertising KPI can also assist in achieving corporate goals and objectives in the long run.