Data is a predicted marketing trend for 2013. It was also a trend in 2012 and is already predicted to be on the list for 2014. So, data is important. It’s particularly important in your one-to-one printing campaigns.
A personal URL campaign is a great way to start the data-gathering process. This type of campaign goes beyond a static mass mailing by personalizing the direct mail piece and providing a personal URL. This micro website gives you the ability to survey and gather responses. The resulting data will allow you to target your contacts in a 1:1 variable text and graphics campaign.
Like any other marketing effort, measuring success is important. Your results will show you if you’ve executed a successful campaign, or if you need to make changes for future campaigns to drive higher response rates. It’s common to use response rate as the measure of success, but I’ll suggest a few others.
Keep in mind that your response rate is the number of people who responded to your offer, compared to the number of direct mail pieces you sent. Example: If you mailed out 10,000 postcards and 250 people responded, your response rate would be 2.5%. The average response rate for a static direct mail piece is 1.7%. Personalization will always get you a higher response rate, which is the reason we always encourage personalizing as much as possible.
Here are some other ways to measure success:
- Conversion Rate – This calculates the number of people who responded to your offer and converted into being a customer by making a purchase.
- ROI (Return On Investment) – The ROI on a personalized 1:1 campaign is often exponentially higher than a static campaign. It is calculated by looking at what you spent to develop and execute the campaign, compared to the revenue generated.
- LCV (Lifetime Customer Value) – Loyal customers who return again and again to purchase from you have a lifetime value. Customers generated by a 1:1 campaign tend to purchase more and be more loyal. Calculating lifetime value is difficult, but should certainly be taken into consideration when determining ROI.
- Cost Per Lead – It’s important to know just how much it cost to get each person to respond.
- Cost Per Sale – Just because someone responded to your offer does not mean they purchased. You might want to calculate how much it cost you to land each sale.
If your 1:1 campaign will include the internet (website and email), you might want to look at your email open rate, click-through rate and website statistics.