Often we judge an advertising campaign’s success by the amount of conversions, new customer acquisitions, or revenue. Without a definitive incentive or variety of tracking methods, it can be nearly impossible to tally the actual success of a campaign. Try to think of the last time a customer came into your business and without being asked gleefully said, “Hi! I just wanted to let you know I found you on Google or I came in because of ‘X’ marketing you did.” More than likely the experience is extremely rare if it has occurred. When tracking methods are implemented properly, the guesswork is eliminated and campaigns become more transparent through analytics.
The best use tracking methods will allow a company to understand the progress and success of an advertising campaign without reliance on the customer to take additional action.
A tracking phone number can help understand conversion from cold prospect to a warm lead. With a dedicated tracking number, you can isolate the number of phone calls from one specific campaign. For example, Nick’s Pizza may use the tracking phone number (949) 555-5555 for his Direct Mail Marketing campaign only. The phone number (949) 777-7777 is used on a landing page tied to a Google AdWords campaign. Both phone numbers get forwarded to (949) 123-4567, the main line for Nick’s Pizza. Nick can use the dashboard provided by his tracking service, Call Rail, to see how many calls are coming into each line. Nick is able to identify that in a 30 day period his pizza shop derived 327 orders as a result of sending out 2,000 Direct Mail Postcards.
Cut out coupons are a great way to manually track offer redemptions. Tom’s Automotive is offering $10 off an oil change and $20 off a synthetic oil change to new customers. In addition, there are many great offers like a coupon for a completely free electronic diagnostic, a $60 value. In order to redeem the offers, the customer must cut out and present the coupon at Tom’s Automotive. At the end of the promotion, Tom is able to tally how many redemptions were made in addition to the total revenue spent by those customers and average customer spend. Tom is able to determine that offering a significant discount on an oil change allowed him to bring in 41 new customers and those customers spent $193 on average.
Companies trying to generate leads with Direct Mail Postcards or Mailer Letters can find great success and lead handling efficiency when using reference codes. Student Solutions, a student loan debt relief agency, has purchased a database of 100,000 individuals who have graduated college and are delinquent on their student loans. Their IT team has uploaded all prospect information into their CRM and attached a unique reference code to each prospect. Student Solutions utilizes Variable Data Printing to print letters that have the first and last name of each recipient alongside their unique reference code. Having a personally addressed letter created a higher conversion rate. The reference codes provide the Student Solutions employees a simple and nonintrusive method to bring up the prospects information when they call in for assistance. New sales can be filtered by all reference codes with the prefix PJ36. The company determines that mailing out 100,000 postcards created 3,000 new customers and generated $700,000 in gross profit.
This article is part 3 of a 4 part series covering:
Branding or Marketing?
What Makes an Offer Irresistible?
Direct Mail Tracking Methods
Crafting a Successful Direct Mail Campaign