Each time a webpage was loaded, this would be counted as an “impression,” for which an advertiser would pay on a CPM basis.* But what the advertiser was really after were the “clicks.” Measuring the “click-through rate” provided a greater measurement of advertising engagement. Forget mere passive impressions, it was now possible to measure how often a user interacted with an ad. In the age of ecommerce, advertisers could even measure clicks that led directly to a sale. This made it easier for advertisers to calculate their return on investment by orders of magnitude. For the first time it was
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