Despite being one of the oldest forms of advertising, print marketing remains a powerful tool in today’s digital age. For businesses investing in brochures, flyers, posters, or direct mail campaigns, measuring the return on investment (ROI) is crucial. Here’s a step-by-step guide to help you determine the effectiveness of your print marketing efforts.
Define Clear Objectives
Before launching a campaign, determine what you hope to achieve. Whether it’s increasing brand awareness, driving traffic to a website, or generating sales, having clear objectives will enable you to measure success more accurately.
Use Trackable Tools
- Unique URLs or QR Codes: Direct your print audience to specific landing pages using unique URLs or QR codes. This allows you to monitor how many visitors access your site directly from your print materials.
- Custom Phone Numbers: If your print campaign includes a call to action that involves phoning your business, consider using a unique phone number exclusively for that campaign.
Include Special Offers
Offer exclusive deals or discounts available only through your print campaign. Track redemption rates to gauge the campaign’s influence on sales.
Survey and Ask
When a new customer interacts with your business, ask how they heard about you. This can provide direct insights into which marketing methods are most effective.
Calculate Costs and Revenues
To measure ROI, you need to understand both the cost of the campaign and the revenue it generated:
- Costs: This includes design, printing, distribution, and any other associated costs.
- Revenue: Track the sales generated specifically from the print campaign using the tools and techniques mentioned above.
Use the ROI Formula
ROI = (Net Profit of Campaign – Total Cost of Campaign Investment) * 100 = ROI
Multiply the result by 100 to get a percentage. A positive ROI indicates that the campaign was profitable, whereas a negative one suggests a loss.
Consider Intangible Benefits
ROI isn’t just about direct sales. Print campaigns can also enhance brand awareness, reputation, and customer loyalty. While these benefits might not translate immediately into sales, they can lead to long-term growth and should be considered.
Continually Adjust and Refine
The business world is dynamic, and your marketing efforts should be, too. Regularly measure your ROI and adjust your campaigns accordingly. This recurring process ensures your strategies remain effective and yield the desired results.
While digital marketing often gets the spotlight, print marketing remains an impactful tool for many businesses. However, its success hinges on effective tracking and measurement. By leveraging these strategies, companies can get the most bang for their buck, aligning their print campaigns with broader business objectives and continuously driving growth.
Not sure where to start with your print marketing campaign? Contact Econo Print for a consultation!
At Econo Print, we strive to deliver the highest-quality printed products possible. We produce top-rated goods in a timely fashion at a competitive price. Listening to our clients and helping them achieve their business goals is our top priority. We are proud of the strong roots we’ve built in the community and pride ourselves on using cutting-edge technology. Our products, commitment to service, and level of expertise exceed our clients’ expectations. Contact us today to learn how we can help launch your business to the next level.
Written by the digital marketing team at Creative Programs & Systems: https://www.cpsmi.com/