With regards to direct mail marketing and your targeted mailing efforts, it’s important to understand that your return on investment ultimately comes down to more than just dollars and cents. Lead generation might not immediately end in a sale, but that doesn’t mean you’re not getting something for your hard work.

If you truly want to improve your direct mail efforts, you need to know how close you are to achieving your goals in the first place. That, of course, requires you to keep a few key things in mind.

Breaking Down Your Direct Mail ROI

Gaining critical visibility into your marketing campaign’s success begins by taking another look at those goals you set for yourself when your efforts began in earnest. What, specifically, did you hope your collateral would do? Were you trying to increase sales? Empower lead generation? Drive more traffic to your website?

Based on those goals, pick one of the following measurements that best aligns with your existing long-term vision for your business:

  • By measuring gross response, or the overall response rate, you can see how well people are responding to your collateral in the first place.
  • Track conversion rate if you want to see how many of the people who received your collateral actually went on to become paying customers.
  • Divide the cost of your marketing by the number of inquiries you get to arrive at your lead generation cost. If your marketing efforts are getting more successful, this number will (in theory) be going down over time.
  • Take your campaign cost and divide it by the total number of new customers you got to arrive at your acquisition cost. This number should also be as low as you can possibly get it for maximum marketing ROI.

The Power of DynamiScan

Likewise, you should make use of solutions like our own DynamiScan, a comprehensive marketing analytics tool that tracks the data of your direct mail campaign in real-time – thus allowing you access to instant insight that you can use to make better and more informed decisions moving forward. DynamiScan can give you the data you need to adequately measure those metrics outlined above.

DynamiScan allows you to scan offers being redeemed at the point of sale, for example, thus allowing you to see which prospects are responding to which offers and, more importantly, why.

Once you know what’s working, you can double down on those efforts and watch your ROI go straight to the skies where it belongs. At DynamiCard, we also offer phone tracking and QR code tracking, too.

If you’d like to find out more information about how to best measure the success of your direct mail campaign, or if you have any additional questions about what collateral like postcard mailers might be able to do for your efforts, please don’t delay – contact us today.

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