CONVERSION RATE AS A BENCHMARK FOR THE PERFORMANCE OF DIGITAL MARKETING
Can we use the conversion rate as a payment basis for a digital marketing Contract?
I write this in the position of user or buyer in Digital Marketing. I have an interesting experience today about “digital marketing” that I would share with you. I am searching for a digital marketing seller to promote my Substack pages. I want to increase the traffic which will convert to subscribers. As a user, I am thinking in logic, I pay the result, if you perform you will get paid, I don't care about your marketing method, Just show me the result. As the result of digital marketing is Conversion Rate, conversion from traffic to the closing transaction (in product sales), in my case it will be subscribers.
I called a digital marketing agency, to the point, I was asked about their historical conversion rate for advertising for the Publication website. The answer is they only advertise product selling / online shops. They will advertise and users will be informed of the traffic results on their dashboard. It will be a problem for me, I must totally trust their system, as informed in the dashboard. It seems like I already throw the advertisement for your product so here is the result. I pay for the fishing not for the fish.
I can not accept the logic of how it works. It’s okay when I was told that they can’t advertise a publication page, although I am asking is that any different in promoting anything. But When I pay for something that is not measurable, seems abstract to me. I pay for something unreal. If you are an insurance agency, you will be paid based on how many new signed customers, if you are a property agency, you are only being paid based on the number of products (houses, apartments, etc) are sold. You can not be paid only based on how many brochures you are throwing to the market. You are not paid based on the effort but based on the result.
I will be happy if you give me your opinion about how I am thinking about digital marketing, I need enlightenment.
