If you’ve been following the Document Solutions blog for any length of time, you know that we love to share with our readers the many, many reasons why print marketing is such an effective advertising channel, even in a highly digitized world. Having your own Xerox multifunction device means that you can produce marketing collateral in-house at an often hugely lower cost than by going through a third party.
As you might know, print marketing enjoys a significantly higher response rate than email marketing does on average. Even the best email marketing campaigns average a 0.6% response rate.
Meanwhile, the average response rate to direct mail (print) is a whopping 5.1%. Read more about this phenomenon in our post The 3 Must-Know Key Components That Make Direct Mail Campaigns Profitable. The point is, when you’re looking to get your return on investment (ROI) for an advertising campaign as high as possible, print marketing is a factor that simply can’t be ignored.
Having said that, one thing that digital does do much better than print is to offer highly detailed statistics. It’s no secret that anything online can be tracked, traced, and monitored—which means that for your digital campaigns, you can know who clicked, when, and whether or not that was a profitable click.
However, print marketing has been around a whole lot longer than digital, and marketers have figured out some pretty clever ways to track the ROI of a print marketing campaign with a fairly high degree of accuracy. Let’s take a look at how some of these techniques work so that you can track the ROI of your next print marketing campaign:
Understanding What Data You Can Track
The reality of print marketing is that sometimes you won’t be able to track conversions—for example, if a person reads one of your flyers, comes to your store, buys something, but never mentions the advertisement, that’s a successful print marketing conversion that you can’t track. (However, see the following section for ways to mitigate this kind of “data loss.”)
The best thing to do is to start with what you can track. Continuing with the flyer example, there’s a lot of data you can potentially start with. Where are the flyers distributed? How many? Are you “split testing” the flyers (e.g., sending out two different versions to see which performs better)? What are the general demographics of the area where the flyers are being distributed?
These are all important questions to ask, because they’ll help you build a foundation for your analysis. Next, use one of the following ways to track the efficacy of the print run:
3 Ways to Directly Track the ROI of a Print Marketing Campaign
The primary ways of tracking a print marketing campaign include the following:
1.) Use a code of some kind, usually in the form of a discount code, coupon, QR code, or voucher. Anyone who uses it can be considered a qualified conversion.
2.) Ask. Everyone’s heard this one before: “How did you hear about us?” It’s not necessarily just the business being friendly—they want to know if you responded to a certain kind of advertisement.
3.) Track the amount of traffic (either “foot” or online) and sales you receive before, during, and after the print marketing campaign.
While the above list isn’t comprehensive, it should be enough to get you started.
Learn More About Print Marketing and How Xerox Devices Can Enhance Your Workflows at Document Solutions
If you’d like to learn more about print marketing and how a Xerox multifunction device can make in-house production of marketing materials easy and affordable, please feel free to get in touch with a member of our expert staff. Come and visit us in person at any of our convenient Texas locations, send us an email, or request a free online quote.