Realizing Real Value in Print Ads and Listings
Measuring Results: Gain Insight on Leads Generated, Cost Per Call and Call Quality
Print advertising is alive and well. The question is how do you measure results? Consumer data, tracking, and metrics are a big part of the appeal of online advertising vehicles. You can analyze print advertising results in much the same way, and get to know customers better along the way. Print advertising can be evaluated by unique URLs, redemption codes, or call-tracking lines where the number appears only in the ad. This customer data can easily inform and fine-tune your print and digital strategies. Regular reviews of print campaigns are an essential tool for understanding your market and improving the effectiveness of targeted outreach.
Evaluate Advertising Metrics Regularly
Important metrics to track include: response rate, cost per response, conversion rate, cost per lead, order rate, customer acquisition cost, revenue per order, and expense-to-revenue ratio. Analyzing these metrics individually, compared to each other, and across advertising channels (e.g., print vs. online) will provide a big picture of ROI and the ability to drill down and make changes where there are gaps, overspending, or unexpected success. Revisiting these metrics regularly (at least monthly) over long periods of time will help detect positive or negative shifts related to specific efforts, which can then be investigated.
For example, if a recent mailer created significantly more sales than a mailer sent at the same time last year, there is an opportunity to assess if it was the promotion offered, the design of the ad, or the list used and be sure to build on that successful component. If the cost per acquisition is also good news, rest assured you’ve hit a sweet spot, at least for now. Over the long run, these metrics can help detect seasonal and regional patterns that can inform more tailored and timely outreach.