Strategy #5) Tracking and Reporting for Success
Every sale in your company should be recorded where the sale came from. EVERY SALE!! If you miss this trick you will throw 3/4 of your annual direct mail marketing dollars in the trash.
I know it feels like you drive your own fate and ‘shoot from the hip’ with your ‘gut instincts’ but don’t be so vain that you don’t track the number of sales and value of each from every thing you sell.
This applies to direct mail as well. Every redeemed piece should be recorded in your CRM tools. CRM tools you say? If you don’t know what they are or don’t have them in place you and your job are at serious risk. It’s the year 2010 – get serious.
The strongest businesses around got there by using math, reports and tracking sales. So how are you going to come anywhere near them if you don’t know where your wisest marketing dollar was last year.
Here are some things you should be tracking.
What brought the customer in? Did they see your sign or did a friend tell the to check you out? Did they see your ad n the paper or were they just at the store next door and liked your window display. Whatever it is you want to focus some effort there.
How much did they spend? If the people than randomly walk by your store spend an average of $20 per visit, but the people that drive to your store directly spend $100; you’ll want to spend more time on your direct mail and print ads since they earn you more money.
Who are your multi-trip customers? If you have customers that return to your business time and time again would you know who they were? Identify loyalty and reward it! Then give them an offer for them to bring a friend. Birds of a feather do what?
Who are your top spenders? If they like your products why do you wait for them to randomly come in? Personally invite them for something they would like. It’s really simple if you take action.
Your best Direct Mail Marketing strategies start with you understanding your clients and learning how to market to each type of client. If you are not tracking anything how will you ever do that?
Step up; it’s not a game you want to lose.