Are your ‘Squeezing the Max’ from your direct marketing campaigns?
Testing & measuring your direct marketing campaigns can save you a substantial amount of money, time, stress and… make you a winner.
But you need to know what to do & how to do it.
There are 3 key areas to focus on, they are measuring your marketing campaigns, integrating your marketing media and testing & improving your response rate.
Measuring Your Marketing Campaigns.
A good idea is to create a spreadsheet so you can record all the details such as -
Number of responses.
Number of sales.
Value of sales.
Gross profit.
Campaign costs.
Campaign profit/loss.
From this information you can calculate your response rate, the cost per enquiry, the cost of each sale, the average sale value and the overall return on investment.
This information is extremely important as Campaign A may have generated 20% more sales than Campaign B however the overall cost of Campaign B may well have been 50% more than Campaign A.
So the campaign that initially seemed a success was a relative failure.
Integrating Your Marketing Media.
Some campaigns will be much more successful than others. This can depend on the media used, the type of industry you’re in or both.
Initially it’s wise to test & measure a number of media types to ascertain which works best for you.
Some suggestions are -
Email only.
Direct mail only.
Telemarketing only.
Email & direct mail.
Direct mail & telemarketing.
Email & telemarketing.
Email, direct mail & telemarketing.
By accurately testing & measuring the results you’ll know very quickly which works best for you.
Testing & Increasing Your Response.
Here’s som (more…)
