Measuring The Effectiveness of Your Campaigns
The
core of any successfully integrated effort depends on accurate
metrics-tracking and analysis of each campaign. At a minimum, you'll
want to have your web analytics setup to analyze the following by campaign
source:
-
Customer
acquisition costs
(CPA)
Revenues
-
For
eCommerce - revenues and average order value
-
For
lead generation - number and quality of leads
-
Life
time value of newly acquired customer
s
including cross-sell and
up-sell opportunities
Revenues
or leads generated by offer, if testing different offers
Effectiveness of each
landing page in terms of
the
conversion and bounce rate
Click
here
to see
a report from our Conversion Analyst web analytics tool showing conversion
metrics by entry page URL. By utilizing unique URL strings for our landing
pages, we can track metrics by campaign and determine which campaigns are
delivering the best returns.
We can also drill down to the keyword level
to discover those keywords that are most contributing to our campaigns
success.
In
our sample
report, the highlighted line shows the activity generated
from our email campaign promoting free shipping.
We can see that the
email, which prompted readers to click on the free-shipping link, was our
8th most productive entry page, and generated 28 orders for us.
Since there's likely to be a "cross-pollination"
effect among campaign sources, it's important for an organization to
agree upon how conversions should be measured when the acquisition of a
new customer was the result of exposure to multiple promotions.
While some
companies will give credit to the promotional source that actually led to
the conversion, other companies will instead compare the total return of
the integrated promotional effort against that of the singular promotional
effort.
Although measurement methods vary, the take-away here is to adopt
one method and use it consistently in all of your tests.
The Bottom Line
Businesses
often encounter logistical and organizational challenges when integrating
offline and online channels in their promotional strategy. However, the potential
added return in terms of branding and direct sales/leads should justify
the planning and testing of these channels. Relying solely on one channel of promotion without testing other
channels could result in missed opportunities for a competitive advantage.