As marketers, we know that personalizing
your print and email communications works. But how well? Metrics from personalized
campaigns range from single digits to nearly 100%. It’s always tempting to
compare your campaigns to others, especially those in published articles or
case studies. However, you can’t necessarily tell the success or profitability
of a campaign by the top-line numbers alone. The most important metric is the
overall return on investment (ROI).
Why
is that? Let’s look at five variables associated with response rates and how
they can impact results.
1. Who’s your audience? If you send your mail piece
to everyone on your list, you will receive a lower response rate than if you
send to your best customers or a carefully selected demographic sub-set.
2. What’s your goal? Are you trying to get
someone to sign up for a free newsletter or buy a $50,000 car? Some offers
naturally get higher response rates than others.
3. What is the incentive? For its high-value
products, one marketer regularly generates 21% to 75% response rates based on
offering high-value rewards like remote control cars or sets of personalized
golf clubs. But not all incentives will generate the same results.
4. Cost of the product? You will get more responses
to offers for products under $50 than for high-value products and services like
family vacations and financial services.
5. Are you regional or
national?
Sometimes regional marketers have a better chance at grabbing recipients’
attention just because they have a local connection. Known brands versus
unknown brands makes a difference, as well.
So
don’t compare yourself to others. Many variables can affect response rates.
Your metrics will be unique to you, and in the end, your ROI is the only number
that counts!
Please give us a call at 440-946-0606Or visit our website here for more information.
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