How Do You Know Your Efforts Are Working?
Creating a personalized print or multichannel marketing campaign takes significant investment in time, energy, and resources. You want to get maximum return on your investment. How do you know what is working and what isn’t? You have to measure the results.
Measuring results goes beyond determining ROI. Sure, it’s important to know what kind of return you are getting, but it’s just as important to ask why you got the results you did. What factors influenced the conversion rate and value per sale? Why was this campaign more or less effective than the one before?
Say you give respondents a chance to win a sweepstakes for $500 if they log into a website and fill out a survey. The campaign generates a 5% response rate with 28% of those responses converting to sales of $200 each. It’s important to calculate the ROI on this campaign, but it’s equally important to test which parts of the campaign were responsible for the results and what happens if you change them.
For example, what if you increase the incentive to $2,500? Does the response rate go up? If so, does the dollar per sale increase, as well? Or does it not have a significant effect on the response rate or value per sale at all?
Don’t stop at one or even two tests. Analyze over time.
• If you increase the incentive even more, does the response rate continue to go up? Or does it flatten out?
• Does the effectiveness change based on the audience you are targeting?
• Does a sweepstakes to win a free mountain bike motivate one audience, while a Nintendo Wii motivates another?
Mix it up, and test, test, test. This is critical intelligence that will help you refine your programs over time and get the maximum results out of your marketing dollars.
Need help? Just ask!
Want More Reasons to Add Color? Here It Is!
When we think about adding color to marketing pieces, we often think about photos, charts, and graphs. But color can be added in many other ways, as well. These include highlight text, brightly colored banners, borders, and backgrounds, and symbols such as starbursts and arrows.
Why think about more places to add color? According to Shoshana Burger, director of corporate strategy and customer insights for X-Rite Pantone, there are some powerful reasons:
• People are 78% more likely to remember words and phrases in color.
• Time spent reading a document is 80% higher in color.
• Basic understanding of content is 80% higher in color.
• Color increases brand recognition by 87%.
• 65% of purchasing decisions involve color.
• Color printing is 55% more likely to be read than black-and-white.
• Response time is 30% faster in color.
• When used in promotions, color increases the likelihood of purchase by 80%.
“Eighty percent of our human experience is filtered through visual cues,” noted Burger, speaking in a presentation titled “The Power of Color in Communications,” hosted by Printing Impressions magazine. “Color also creates an emotional connection. Choosing the right color, and how that color conveys to the right user, is important.”
So look for ways to increase the use of color in your next mailing. Add a colored background to a text box. Use highlight color in your text to draw attention to offers or critical product details. Add an extra image, chart, or graph, or enlarge a colorful image that you already have.
Whatever you do, get more color in there!
Want More Trees? Buy Paper!
Did you know? In North America, it takes less than two seconds to grow the fiber for a standard #10 envelope. Surprised? You shouldn’t be. According to Two Sides North America, here are some little known facts about paper and trees.
• The time required to grow the fiber needed for a #10 envelope is 0.3 to 1.9 seconds.
• The time required to grow the fiber needed for a ream of 500-sheet office paper is 0.3 to 2.2 hours.
Growth rates are based on 100 acres of managed forest in North America.*
The fastest growth rates are for Loblolly Pine and Hybrid Aspen. The slowest are for Black Spruce. Climate and temperature play a large role in growth rates.
Here are some other fun facts:
• A forestland owner or tree farmer with 100 acres of commercial pulpwood could produce 15.8 million #10 envelopes or 4,000 reams of copy paper (500 sheets each) in a single year.
• Any market for paper products also benefits local communities, given that a portion of the income is re-injected into local businesses and services.
Unfortunately, claims such as “go paperless – go green” or “save trees” mislead consumers into believing that paper is environmentally damaging, as well as a cause of deforestation (permanent forest loss) when it is not. In fact, paper supports the growth of North American forests, and well-managed forests provide a multitude of environmental, social and economic benefits to thousands of North American communities. Forests are also key to helping mitigate climate change due to carbon sequestration and promoting biodiversity compared to other land uses.
Want to learn more? Check out Two Sides’ Fact Sheets or Myths and Facts series.
* Results are based on type of tree species used and the age and growing conditions of the trees. Data and fiber growth rate calculations were obtained from the literature for nine tree species used in pulp and paper production and occurring under different growing conditions in the U.S. and Canada.