With all the buzz about email marketing, it can be easy to overlook the fact that print still delivers a powerful return on investment.
In today’s data-driven landscape, you should always measure the results of your marketing initiatives. With print however, many marketers believe it’s impossible to track ROI. This is not only false, but also a financial mistake. It’s important to measure print ROI because it provides insight that will inform your future marketing decisions. Here are some tips to track the performance of your print campaigns.
The most important point to keep in mind when calculating print ROI is to decide how to measure success. For some brands its sales and for others its awareness, but it must be measurable and you must have baseline results from which to compare. Once you establish a plan to determine success, you can choose one of the three methods to calculate marketing ROI for print.
Use the Last Touch Attribution method when you are tracking a response code, like a special discount associated with the print offer. This allows you to easily track the exact performance of a specific offer, but does not factor in consumers who see the promotion and act without using the special discount.
The Experimental Design method is a system where marketers isolate a specific variable to track with A/B testing. For example, you could run two separate print promotions with different offers and compare the results. This method can be effective, but it doesn’t account for additional variables.
The final option is Marketing Mix Modeling, which uses a statistical model to account for the problems with the above methods. It incorporates brand equity to determine the incremental value a specific print piece adds to your marketing profit. This gives you deep insight into the true value of your print campaigns. We understand the importance of calculating print ROI and have the tools to help you decipher complex data. Contact us to help you plan a personalized system to make the most of your print campaigns.
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