How to Track the Success of Direct Mail Campaigns?
To measure the success of your direct mail campaigns, you must know the metrics that are important to your business. These include Conversion rate, Average order size, Cost per acquisition, and Revenue per order. You can track these metrics using a simple Excel spreadsheet. In addition to these metrics, you can also use other marketing measures to determine whether your direct mail is working. Here are some tips to follow: * Make sure your call to action is campaign-specific and appropriate for your customer’s buying journey.
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When you send out direct mail, it’s important to monitor the response rate and the conversion rate. Response rates represent the percentage of people who respond, while conversion rates are the percentage of people who take your offer. You can see these numbers in your response rate report. You can also compare them.
While response rates are important for measuring the effectiveness of your direct mail campaign, a conversion rate gives you a much clearer picture of how well your marketing campaign is working. If many people respond but only a small percentage convert your direct mail campaign may be a failure.
Average order size
Direct mail campaigns have different average order sizes. One factor in determining average order size is merchandise assortment. A print catalog can result in a higher average order size than a web lead. This is because web buyers generally look for specific items and then buy them. In contrast, catalog buyers tend to peruse pages and find several items they would like to order. Once they find the right items, they will go to the web to place their order.
Cost per acquisition
Cost per acquisition (CPA) is the amount of money spent to acquire a new customer. It can be calculated across a variety of channels and marketing campaigns. The lower the cost per acquisition, the better, and can be used to compare the effectiveness of various marketing solutions. You can also compare CPA to other metrics, such as revenue per order.
CPA can be applied to e-commerce, email marketing, and other marketing campaigns. It can also be used to determine the cost of customer acquisition without involving direct advertising costs. For example, if you’re selling candles, and you spend $800 on an Instagram campaign, you can calculate CPA by using the average purchase price for each customer. If each customer purchases four candles, your average CPA would be $40.
Revenue per order
When you’re using direct mail to promote a product or service, you need to keep track of your revenue per order. This figure is also known as CPA, or cost per acquisition. It tells you how much you’re spending to acquire a new customer. This number helps compare the effectiveness of different marketing efforts.
Besides the response rate, you should also consider your conversion rate. This metric is useful when comparing mailings with similar offers and formats. Often, different offers will produce different response rates, and different offers can lead to higher-quality responses.