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Track direct mail for higher return on investment
As marketers look to enhance customer experiences with direct mail, they should extend extra efforts to make sure that their mail is getting delivered to its intended audience. With address verification and strategic tracking measures, companies will be able to keep a close eye on how their direct marketing plans are paying off.
An important part of the marketing process is tracking direct mail, because it lets marketers know where they are being successful and where they need to make adjustments in their campaigns. Be aware of how the mail is faring in the delivery process will also tell companies if they need to update the contact information on their mailing list. Once results are in and businesses can analyze how effective their mail was, they can improve their system and plan future campaigns that get higher response rates. Here are three ways to track direct mail campaigns for higher return on investment:
1. Define areas of interest
Be clear on what is being analyzed, whether it is revenue per customer or overall ROI, but either way, have a legitimate idea of what the control is and how to measure it. Plan what numbers are above, at or below the desired amount so it's easily comparable when results are finally in.
2. Determine response rates
After waiting an appropriate amount of time, enter information into the system that will help separate various parts of the campaign that are important to look at. Determine response rates from those who received their mail and apply this number to the initial goal.
3. Calculate revenue
The Houston Chronicle says one of the last steps is to look at the revenue brought in for each customer and see how that number fares in the overall investment in the direct mail campaign. Depending on the results, adjust the next campaign for improved ROI.
