Post by ivykhan885 on Mar 7, 2024 4:39:13 GMT
To evaluate the performance of a direct marketing campaign, one of the most used indicators is the redemption rate. In today's article we will see what redemption indicates, how it can be calculated and its role in planning a strategy. Keep the redemption rate of your campaigns high with Ediscom direct marketing services. For more info, click here . Redemption marketing Share on Facebook Share on LinkedIn REQUEST MORE INFORMATION In the planning and monitoring phases of a marketing campaign, the redemption rate is a metric that must be taken into great consideration. To better understand its use and its facets, let's first of all see what redemption marketing indicates , through a clear definition. Redemption indicates the percentage of responses obtained in relation to the number of contacts that were reached as a result of a specific marketing action. To calculate it in percentage form , the following formula is used.
Redemption rate: (responses obtained/ messages sent) x 100 Ignoring such an important factor in both the planning and monitoring phases can lead to very negative results in the campaign. To define upfront the budget to spend, how much to reinvest to keep a promotion active or how effective the chosen strategy has proven to be, knowing the user response percentage based on the messages sent is essential. Since direct marketing is based on the analysis and processing of data, it is possible to calculate the redemption marketing rate for various tools, such as SMS and Direct Email Marketing. Let's see through practical examples how to obtain this information! How to measure redemption: two practical examples Let's take as an example a company that installs Australia Telegram Number Data security systems inside companies and condominiums. With the release of a new latest generation video surveillance system on the market, this company wishes to contact potential customers to arrange a sales appointment and present the product to them. By sending 2000 emails and 2000 SMS to as many target contacts, the company will receive an easily identifiable number of responses. Once the campaign is finished, it will be able to calculate the result of redemption marketing for the individual channels: -Redemption direct marketing.
60 customers out of 2000 have made an appointment ( Redemption equal to 3% ) -Redemption SMS marketing: 50 customers out of 2000 have made an appointment an appointment ( Redemption equal to 2.5% ) The same calculation can also be applied later in the strategy, where customers who responded affirmatively to the first appointment will schedule a second one : - Redemption first commercial appointment: 20 customers out of 110 have scheduled a second date ( Redemption equal to 18% ) Is it possible to predict the redemption marketing rate? A factor as important as redemption in marketing, when possible, must be calculated with a certain approximation already in the strategy planning phase . It is undeniable that every company wants success for its campaigns, but it is equally true that being caught off guard by a response that is different from expectations can lead to performance below expectations. The difference between 10,000 and 50,000 contacts interacting with a promotion, for example, will have a great impact on the budget to be allocated and on the ROI , and it will be the company's task to be able to organize itself in advance to meet the needs of all those who have established a contact. To anticipate the redemption marketing rate, brands must take into consideration factors such as the results of previous strategies and the possibility of budget changes once the campaign has already started. If significantly more consumers than expected become interested in the promotion and make contact, it can have a major impact on the bottom line; at the same time, allocating a large budget for a campaign that, once launched, does not involve as expected, will lead to economic losses and an insufficient redemption rate.
Redemption rate: (responses obtained/ messages sent) x 100 Ignoring such an important factor in both the planning and monitoring phases can lead to very negative results in the campaign. To define upfront the budget to spend, how much to reinvest to keep a promotion active or how effective the chosen strategy has proven to be, knowing the user response percentage based on the messages sent is essential. Since direct marketing is based on the analysis and processing of data, it is possible to calculate the redemption marketing rate for various tools, such as SMS and Direct Email Marketing. Let's see through practical examples how to obtain this information! How to measure redemption: two practical examples Let's take as an example a company that installs Australia Telegram Number Data security systems inside companies and condominiums. With the release of a new latest generation video surveillance system on the market, this company wishes to contact potential customers to arrange a sales appointment and present the product to them. By sending 2000 emails and 2000 SMS to as many target contacts, the company will receive an easily identifiable number of responses. Once the campaign is finished, it will be able to calculate the result of redemption marketing for the individual channels: -Redemption direct marketing.
60 customers out of 2000 have made an appointment ( Redemption equal to 3% ) -Redemption SMS marketing: 50 customers out of 2000 have made an appointment an appointment ( Redemption equal to 2.5% ) The same calculation can also be applied later in the strategy, where customers who responded affirmatively to the first appointment will schedule a second one : - Redemption first commercial appointment: 20 customers out of 110 have scheduled a second date ( Redemption equal to 18% ) Is it possible to predict the redemption marketing rate? A factor as important as redemption in marketing, when possible, must be calculated with a certain approximation already in the strategy planning phase . It is undeniable that every company wants success for its campaigns, but it is equally true that being caught off guard by a response that is different from expectations can lead to performance below expectations. The difference between 10,000 and 50,000 contacts interacting with a promotion, for example, will have a great impact on the budget to be allocated and on the ROI , and it will be the company's task to be able to organize itself in advance to meet the needs of all those who have established a contact. To anticipate the redemption marketing rate, brands must take into consideration factors such as the results of previous strategies and the possibility of budget changes once the campaign has already started. If significantly more consumers than expected become interested in the promotion and make contact, it can have a major impact on the bottom line; at the same time, allocating a large budget for a campaign that, once launched, does not involve as expected, will lead to economic losses and an insufficient redemption rate.