Business Analysis Toolkit

When you are developing direct marketing KPI, there are inevitably a lot of factors to consider here. First of all, you have to remember that the number of KPI to use should be limited, to avoid further confusion when it comes to the interpretation and analysis of collected data. As with KPIs that are used in other industries and for some other purpose, less is actually more.

With that being said, let us move on to direct marketing, more specifically, direct mail marketing. Now, it is a common practice for direct mail marketers to collect marketing response data. This is essential towards the objective and effective comparison of the different direct mail design and content. Collecting marketing response data is also needed when you aim to assess the different creative approaches, offers, templates, and other aspects that have strong influence on the success of your marketing campaign itself. This way, whatever campaign you hold in the future, you will have real-time results and conclusions that you can use as basis for whatever move you make.

Now, more often than not, direct mail marketing companies also prefer to use benchmarks that are just of the average in the industry. But why not go for broke here? Why go for just the average? Just think about it for a second here: the average benchmarks would actually be the ones that are commonly used by the many companies in the industry. Thus, you are able to get a more objective point of view here. The average should then be used when you aim to analyze just how effective and efficient your marketing program is.

However, you also have to remember that there are certain factors that have strong influence on benchmarking statistics. Take for example the direct mail medium or type that you are using. There are actually different types that you can choose from, which include brochures, booklets, newsletters, and even business cards! Even the relationship that the company has with its customers can also be a factor of strong influence here. The very profile of the company itself is also on the list. Thus, it is an imperative to use benchmarks that are of the average in the industry in establishing direct marketing key performance indicators.

But if you want to go for the more effective method, then you should consider going with email marketing instead of the traditional form of direct mail marketing. When it comes to postal direct mail, your response rate is actually a bit limited here. This would depend on the percentage of people or recipients who respond to your marketing campaign by calling the number that you leave, or by physically visiting your store, or by sending back a business reply card of some sort. However, with email marketing, the response rate is not that limited at all. With email marketing, the recipient or the potential customer need not physically visit your store at all. This is already a huge plus in terms of convenience. Also, all the recipient has to do is just reply to the email itself, or better yet, join the mailing list or the very service that you are offering.

Still, direct mail marketing remains very cost-effective in terms of attracting new customers. And if you have the proper direct marketing KPI implanted for your system, the figures will certainly become more promising for your marketing campaign.

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