What is cost per acquisition in SAP CEC-MKT-CAT - Customer Attribution?

SAP Term: cost per acquisition

• Component: CEC-MKT-CAT

• Component Name: Customer Attribution

• Description: The monetary amount required to achieve a conversion through a marketing campaign. For example, if the success metric is a sale, the cost per acquisition is the marketing and advertising costs to get one person to buy something.

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• Key Concepts: 
  Cost per acquisition (CPA) is a metric used to measure the cost of acquiring a customer or user. It is calculated by dividing the total cost of acquiring a customer by the number of customers acquired. CPA is often used in marketing campaigns to measure the effectiveness of different strategies. 
  
  How to use it: 
  The CEC-MKT-CAT Customer Attribution component in SAP allows users to track and measure the cost per acquisition for their marketing campaigns. This component provides users with insights into which campaigns are most effective in terms of cost and customer acquisition. It also allows users to compare different campaigns and strategies to determine which ones are most cost-effective. 
  
  Tips & Tricks: 
  When using the CEC-MKT-CAT Customer Attribution component, it is important to track all costs associated with each campaign, including advertising, labor, and other expenses. This will ensure that the CPA metric is accurate and can be used to make informed decisions about future campaigns. Additionally, it is important to track customer acquisition over time in order to get an accurate picture of the effectiveness of each campaign. 
  
  Related Information: 
  The CEC-MKT-CAT Customer Attribution component is part of SAP’s Customer Experience Management suite, which provides users with tools for managing customer relationships and optimizing customer experiences. Other components in this suite include Customer Journey Analytics, Customer Segmentation, and Customer Insights.