How Do You Measure Direct Marketing Success?
Let’s be honest. Direct marketing costs money. How do you know if the money you spend to get your message out is bringing you something in return? How do you measure your marketing success?
For some businesses, the unfortunate answer is that they don’t know. Or their “success” is based on how many people liked their campaign. In today’s economy, that’s not good enough. We want to measure dollars. What is the ROI on each and every campaign? So what should you measure?
It doesn’t have to be complicated (although, as you get better at measuring, you can increase the complexity of what you measure). Here are three things to measure.
• How many responses did you receive from your efforts (whether it’s direct mail, email, space ads, Tweets, landing pages, etc.).
• How many of those responses turned into leads (someone interested in more information or a quote)?
• How many sales did you actually make as a result of the effort?
Make sure you keep track of what you spent as well. A campaign that generates $10,000 in sales may not be a success—if the campaign cost you $15,000.
What’s important for you to measure? Have you seen a good ROI on your last few campaigns?