Think of your marketing campaign as a car. Now, think of your end goal — be it increased memberships, appointments, or donations — as the final destination at the end of a long trip.
How you get there is up to you; some prefer the highway, others the backroads. These are your marketing channels — the emails, pieces of direct mail, social media posts, and display ads you may choose to reach your prospective customers.
You have a car, a destination, and you’ve probably picked how you want to reach your audience. But you also need gas, and any of the other essentials like a map or GPS required on a long road trip.
These are your marketing campaign metrics. Without them, you’d be lost, aimlessly driving and searching for the best route along your journey. They provide quantifiable feedback every step of the way, ensuring your current campaign and those in the future can succeed.
Before any campaign begins, it’s important to understand your goals. What do you want to accomplish by sending targeted pieces of direct mail? Setting and achieving a goal is critical, but how you report on that goal can provide an even greater insight into your campaign’s real-time performance.
Measuring your success starts by tracing a path from lead to sale; identifying your audience and tracking their movement along the customer journey. By identifying key performance indicators (KPIs) at the start of your campaign, you can create actionable tasks along the way to help you reach your goals in an organized manner.
Here are a few KPIs you should be monitoring:
When you send a piece of mail, your initial goal is to generate a response from the people on your mailing list. According to the Direct Marketing Association, the average response rate to direct mail is 5% for prospect lists. While a response is just the first step in converting leads, it can inform your future marketing decisions, including the design, layout, and messaging on each mailer.
Getting someone to respond to your mail is a good first step, but doesn’t necessarily help you reach your ultimate campaign goals. Let’s say you’re offering a lower introductory rate for new members, but only to those who respond by a certain date. The people who respond within the given timeframe and sign up are converted leads, while those who respond with a question or inquiry are simply interested in your product or service, but not yet converted.
Direct mail isn’t free, but targeting prospects with your data — in an efficient, systematic way — is more cost-effective than traditional pay-and-spray or mass-mailing methods. Every lead you convert, be it through email, direct mail, or through website traffic, costs a certain amount. Knowing just how much on each channel helps you to find the most effective method for your budget and your goals moving forward.
Any successful marketing campaign is not only driven by data, but produces data that can be used in future iterations. The data behind marketing campaign metrics is what creates a clear view of your return on investment (ROI), ensuring you know exactly where every dollar in your budget is going.
At the start of a marketing campaign, you know where you’re headed and how you’re getting there. With real-time analytics and metrics dashboards in place, you can reach your goals in the smartest, most cost-efficient, and systematic way as possible.
The best practices equal the best results. Learn how Darwill can help your company use these marketing campaign metrics to reach your goals.