We all set goals – email opens, email clicks, conversions, store visits, product purchases – for our marketing campaigns & programs. As we should! And typically those goals are high – 40% uplift, 20% incremental revenues or profits driven, 30% conversion. Many companies, especially when they are implementing more sophisticated techniques like multiple waves of communication or multi-channel initiatives, sometimes forget to factor in the type of audience they are addressing.
Consider a campaign to existing customers. If you are a service provider with loyal customers (those who have purchased from you repeatedly), you should look for modest gain. Hey, they already love you! Take the extra 2 – 3% gain over past campaigns and consider it well worth the effort. You’ve just retained a valuable customer who will continue to buy from you in the future. In one recent campaign, set to execute 4 communications to customers over 4 weeks, we’ve seen an 8% lift with just the first communication alone.
If you are looking for larger returns consider conducting an acquisition campaign. Those will typically drive higher returns with the right offer.
Remember that you are asking consumers to choose you and to trust that your product or service will provide ultimate benefit to them. And remember that every campaign gain is a win.
Ann McCartan, DBMCatalyst
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