Using Analytics with Direct Marketing to Ride Out a Tough Economy -- Part 3
Using Analytics with Direct Marketing to Ride Out a Tough Economy -- Part 3
Part of the goal of this exercise is not only to ensure that you are capturing everything that is important . . . but also to check out if your systems are tied together in order to link together the information captured and measured efficiently.
So, how to accomplish this? You’ve already taken a hard look at the right things to measure. Within those things (i.e., each direct marketing campaign), are you measuring all of the aspects that will contribute to your profitability? Sure, you’re measuring response rates . . . but are you taking it the next step to see how many of those who responded actually converted or spent dollars with you? Of those that convert, are you looking at what they purchased? You may have a myriad of product offerings, for example. So, those responders/converters that were driven to your website and purchased, which product did they buy? Was it a profitable conversion?
I’m not trying to be a nit-picker, trust me. However, these are very important questions. Let me give you a clearer example of what I mean. Let’s say you sell products on your website that range from $5 to $100. And, you also offer free information in the form of documents that people can download. If you received an outstanding response rate of 5%, yet all of those folks that visited your website bought only $5 items and downloaded the free info, your campaign may not have been as profitable as you desired. It may be that it was — I’m just saying take a look at all of the elements so that you can measure the ROI. This way, you can accurately report on how successful each campaign was and you can tweak it for the future to make each upcoming campaign even more successful.
Make sense?
Part of this means that you have to ensure that all of your customer touch-point systems work fluidly together. In other words, if you are driving prospects to your website and to your call center, make sure that you have the analytical tools in place to track that campaign from both places. This way, when you roll up your results, you can get a true, overall picture of the campaign effectiveness. In addition, it allows you to measure another piece — which direct marketing channel performed better at getting customers to convert — was it your website or your call center?
We hope you've enjoyed this series on how to be as effective as possible with your direct marketing efforts!
Using Analytics with Direct Marketing to Ride Out a Tough Economy Part 3 - To learn more about this author, visit Nancy Arter's Website.
Like this article? Share it with your friends
To finish up on our theme of riding out the economy by utilizing an analytical approach, think about all of the things that you measure. We’ve already discussed going through and assessing what you are measuring and ensuring that every element does have an impact on overall company profitability goals. Now, let’s dig a little deeper to ensure that we aren’t missing anything that could be important.
Part of the goal of this exercise is not only to ensure that you are capturing everything that is important . . . but also to check out if your systems are tied together in order to link together the information captured and measured efficiently.
So, how to accomplish this? You’ve already taken a hard look at the right things to measure. Within those things (i.e., each direct marketing campaign), are you measuring all of the aspects that will contribute to your profitability? Sure, you’re measuring response rates . . . but are you taking it the next step to see how many of those who responded actually converted or spent dollars with you? Of those that convert, are you looking at what they purchased? You may have a myriad of product offerings, for example. So, those responders/converters that were driven to your website and purchased, which product did they buy? Was it a profitable conversion?
I’m not trying to be a nit-picker, trust me. However, these are very important questions. Let me give you a clearer example of what I mean. Let’s say you sell products on your website that range from $5 to $100. And, you also offer free information in the form of documents that people can download. If you received an outstanding response rate of 5%, yet all of those folks that visited your website bought only $5 items and downloaded the free info, your campaign may not have been as profitable as you desired. It may be that it was — I’m just saying take a look at all of the elements so that you can measure the ROI. This way, you can accurately report on how successful each campaign was and you can tweak it for the future to make each upcoming campaign even more successful.
Make sense?
Part of this means that you have to ensure that all of your customer touch-point systems work fluidly together. In other words, if you are driving prospects to your website and to your call center, make sure that you have the analytical tools in place to track that campaign from both places. This way, when you roll up your results, you can get a true, overall picture of the campaign effectiveness. In addition, it allows you to measure another piece — which direct marketing channel performed better at getting customers to convert — was it your website or your call center?
We hope you've enjoyed this series on how to be as effective as possible with your direct marketing efforts!
Using Analytics with Direct Marketing to Ride Out a Tough Economy Part 3 - To learn more about this author, visit Nancy Arter's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
|||
Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Nancy's articles
 |
|
RRW Consulting Direct Marketing Blog - Here is our daily take on all things related to direct marketing. Whether it is the latest CRM tool, the newest approach for targeting and segmentation, or just interesting industry news, RRW reports on it here!
|
|
 |
 | |
|
| |
 | |||||||
|
Referred by: http://www.internet-search-marketing.com
 | ||
|
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Speed Business Networking Special Report Consultative Selling ebook Lifestyle and Leadership Buying 2.0 |
|
 | ||
 |
Top 50 Productivity Blogs
Top Blogs To Watch In 2008 | |
 |
Top 50 Franchising Blogs
Top 50 Franchising Blogs | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||
|
| ||||||||||
|
|
||||||||||