What is the clearest way to explain the concepts of "frequency" and "reach" in online advertising campaigns?
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M$Frequency is how often you talk to them.
The key is balancing these two numbers so that you aren't talking to more people than you need, while talking just enough to people you want.
That's the simplest way I know to understand reach and frequency.
Another model worth using is RFM or Recency, Frequency and Monetary, proposed by Bob Stone. It's essential an equation for finding not just how often you reach out (frequency), but how soon between communications (recency) and how much you are spending compared to return on investment (ROI).
I've linked to Bob Stone's book and to my own site, where I have a marketing podcast and blog. Lots of resources. All free. Because I'm foolish.
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