Getting to the Bottom Line: Tracking and Measuring Your Campaigns
In This Chapter
Defining what counts as a response
Calculating basic cost metrics
Figuring response metrics
Assigning revenue to your campaigns
As I say repeatedly throughout this book, your ability to measure the success of your campaigns sets your database marketing efforts apart from other marketing disciplines. Other disciplines can measure costs and, to some degree, the benefits associated with their efforts. But you can use your database to give very precise financial results.
This ability arises from your use of the scientific method discussed in Chapter 14. You approach your campaigns as experiments. This means that you form a hypothesis and then proceed to test that hypothesis in a systematic way.
In this chapter, I examine some of the most common metrics that are used to evaluate database marketing campaigns. Ultimately, I discuss the assignment of financial metrics that allows you to clearly and convincingly measure your contribution to your company’s bottom line.
Defining Responses Clearly: ...