Marketing 101 dictates that you should be measuring the results of your marketing efforts. Calculating results from each piece of your marketing plan is important to being able to evaluate what works and determining how best to spend your budget. Tracking and measuring results may seem like a daunting task, but with shared mail, it doesn’t have to be.
Shared mail is an effective, efficient channel for reaching consumers and prospects. It’s relatively inexpensive, is capable of creating strong and positive relationships, and demonstrates better response rates than many competing channels.
How exactly do you measure the success of a shared mailing campaign? It can be as simple as asking a question, monitoring foot traffic and phone calls, making notes on a pad next to your cash register, collecting coupons, or tracking your website analytics.
Successful measurement starts at the beginning, with the end in mind. Ask yourself these questions:
1. What is the goal of this mailing?
Increased sales? Branding? Increased traffic to store or website?
2. Where am I right now?
Establish a baseline for the goal or goals you have chosen.
3. What would I consider a success?
Set specific targets to meet for each goal chosen.
Design a Measurable Mail Piece
What makes shared mail both memorable and measurable is the ability to design an eye catching, physical ad that includes a call to action that generates results and is easy to track. How? Try these ideas:
• Use your call to action to lead recipients to a specific landing page on your website. Use your website analytics to track the success of the landing page.
• Add a QR Code to the mailer that when scanned, leads recipients to that landing page.
• Design your mailer with a physical coupon that must be brought into your store – or includes a code that can be collected at the time of an online purchase.
• Add a code or phrase that must be provided during a phone call.
Ready, Set, Track!
To be truly effective with a shared mail campaign you must be ready to follow through with tracking and analyzing your results.
• Be sure that your staff has been briefed on the timing and goals of your mailing and are ready to do their part.
• Make simple notes on a pad next to your phone and cash register to track the number of calls, number of visitors, and other helpful information as you speak with customers.
• Track (manually or through your POS system) sales of specific items that were featured on your mailer or on sale at the time of distribution.
• Calculate overall increase in sales/calls/traffic/revenue during a set time frame after distribution (works best when a limited number of marketing efforts are running at one time).
• Collect all coupons as they are redeemed.
• Jot notes down on the back of each coupon such as total sale in $$.
One of the most effective and often overlooked methods of tracking how successful certain aspects of your marketing campaign are is by simply asking your customers “Where did you hear about us?” or “What brings you in today?” You will learn where they heard about you – whether it’s shared mail, that ad you placed in the local newspaper, word of mouth, etc and it opens a dialogue that may allow you to gather other useful information such as an email address and permission to reach out to them directly in the future.
How Do You Measure Up?
Once your event has ended or a reasonable amount of time has passed after the mail date, it is time to review the information that was collected and determine the success of your campaign. It is important to note that for many businesses, the return on investment is actually more important than actual response rate when determining the success of a mailing campaign. Return on investment (ROI) is a percent that expresses how much money you gain as compared to the money you spend.
Ready to see how Shared Mail can help your business grow? Contact TMM today.
Wondering about the return you might expect from your planned mailing campaign? Want to see what would happen to your ROI if you were to increase your market coverage or change the product/service you were promoting? Did you track your results from a recent campaign and now want to confirm your ROI? Click here to use our interactive ROI Calculator.