Direct marketing testing dollars wasted due to incomplete analytics
How do we know who won the Super Bowl? The World Series? The gold medal in Downhill Skiing? Someone scored the most points. Someone ran the course in the fastest time. Without these key measurements of points or time, we would have no basis to award a team or an individual the title of “Champion."
Measurement and analytics are the basis for all direct marketing. The ability to track the performance of a campaign–to test subject lines, envelopes, formats, or headlines–is paramount in determining the winning combination.
Analytics for direct marketing can take on many forms. The most important first step is to define how you want a campaign to be measured. What are the key metrics that will equal success? Is it cost-per-acquisition, cost-per-lead, or maybe lifetime value? With those metrics in mind, you can begin to plan your campaign, knowing where the bar has been set when it comes time to analyze results.
While failure is never desired, learning what doesn’t work is often just as impactful as learning what does work.
After you know what you’re going to measure, you can set up tests that will start you down the path of optimization. We recommend testing what you consider to be the most impactful variables first. Is it an email subject line? The headline on a banner ad? A self-mailer vs an official #10 envelope? Analytics will extract the winning and losing elements, but it doesn’t stop there.
Analytics can also tell you what your customers look like. Effective regression modeling can give you a profile of their age, income & spending history–as well as track their performance by marketing channel. Ultimately, modeling should tell us the ideal prospects we should target for the future marketing of your products or services.
At SeQuel, we thrive on analytics. We seek to thoroughly measure and assess every program we manage–even though it might cause us some pain. We believe that measurability leads to accountability, which generally leads to better and better performances. In direct marketing, we can never rest on our achievements–we must constantly be looking for that next winner.
SeQuel is very excited to be introducing a new marketing instrument this year, which will go a long way toward assisting our clients in finding their “champions." We believe the tool called sQoreboard, a proprietary online campaign analytics tool, will take direct marketing results analysis to the next level.
As a platform formatted for web, mobile and tablet interfaces, sQoreboard is able to automatically analyze the impact of each element of our client’s campaigns–per list, per package, per offer, per channel, etc. It is accessible 24/7 through a secure web portal, allowing clients to monitor the progress of their campaigns anywhere, any time.
Analytics through SeQuel will take out the guesswork and deliver sophisticated reporting in an expedited and convenient fashion. You can get real-time dashboards, accurate reports and customized information that will be focused on your most critical metrics.
Win, lose or draw, SeQuel will help you find a new control faster.
Tired of waiting forever for surface-level analytics?