When it comes to increasing response and conversion rates,
personalized communications are a powerful tool. However, don’t think that all
personalization is equal. It isn’t. To get great results, you must use the
right variables with the right audience in the right way.
Response rates for personalized mailings can vary widely. One
study found response rates ranging from 6% to 75%, with an average of 21%.
These are some eye-catching numbers, but why is the range so wide? To
understand the variation and set realistic expectations for your own campaigns,
it’s helpful to ask specific questions.
• What type of campaign
was it? Customer acquisition? Customer retention?
• What kind of list did
you use? Highly targeted, moderately targeted, or undifferentiated lists will
yield different results.
• Did recipients have a
previous relationship with your company?
Or are you using a prospect list?
• What is the value of
the product? Are you marketing a webinar or selling a Tesla?
• Did per-order value go
up with personalization, and if so, by how much? A “low” response rate combined with a high
per-order value will often net you better ROI than a high response rate with
low per-order value.
• How are you measuring
success? Response rates? Conversion rates? Cost per lead? Average sale? Each
measurement tells a different story.
The answers to such questions can have a dramatic impact on
understanding ROI. So before setting your expectations for your next
personalized mailing, talk to us about your goals, expectations, and the data
you are working with. Setting realistic expectations is a critical component to
making your 1:1 print program a success.
Please give us a call at 440-946-0606
Or visit our website here for more information.
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Please give us a call at 440-946-0606
Or visit our website here for more information.
Share on LinkedIn
