For example, a single insertion of a three-line item of Business Notice in the The New York Express in 1870 cost 60 cents. Orders were made for вЂinsertionsвЂ™ of the ads in newspapers and the advertiser paid a given rate per line. The terms insertion order and line items have their roots in print advertising.

Business terms: The pricing model (CPM, CPC, etc.) and payment terms.

Line items with campaign execution terms: Which banner sizes to use, where to place the ads, and which pages to display the ads on.

Campaign objectives: Target group, traffic, branding, etc.

The insertion order defines the terms of the campaign and includes the following: In order to display ads on a publisherвЂ™s website, the advertiser would send an insertion order (IO) to the publisherвЂ™s sales team.

This system meant advertisers would pay a certain price for every 1,000 impressions (i.e. The advertiser would contact the publisher and purchase ad space on its website on a cost-per-thousand basis, known as Cost Per Mille (CPM), as mille means thousand in Latin. In the early days of online display advertising, the exchange between an advertiser and a publisher was a direct sales process and resembled the way media had always been bought and sold. This was the beginning of what is now a highly lucrative trade.

For example, if an ad had a CTR of 2%, then for every 1,000 impressions, it received 20 clicks. Click-through rate (CTR) is the number of clicks an ad receives divided by the number of times itвЂ™s displayed.

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