Do you know how well your print marketing efforts are performing? Whether you’re a sole proprietor with a small business or an international organization sporting campaigns in multiple countries, understanding the ROI of your printed materials is vital to creating successful future campaigns.
Unfortunately, it can be somewhat difficult to track this information—but here at Davant Indy, we’ve got some tips for tracking and measuring the return on your investments so you never miss out on valuable opportunities. Read on for our 5 top tips to help ensure you’re getting maximum value from every sent snail mail campaign!
What Is Print Marketing ROI?
Print Marketing ROI, or Return on Investment, is a metric used to evaluate the effectiveness of a print marketing campaign in generating profit relative to its cost. In simpler terms, it’s a way to measure whether the money you invest in your print marketing efforts—be it brochures, flyers, posters, or direct mail—is giving you a sufficient bang for your buck.
The concept of ROI is not exclusive to print marketing; it’s a universal principle used across various forms of investments. However, understanding ROI in the context of print marketing is essential because, unlike digital marketing channels where analytics are readily available, assessing the impact of a print campaign can be a bit more complex.
The basic formula for calculating Print Marketing ROI is:
Here’s a breakdown of the formula:
Net Profit from Print Marketing: This refers to the money generated directly from the print marketing campaign. Tracking this might involve using unique promotion codes, dedicated phone lines, or other tracking mechanisms.
Multiply by 100: This conversion is done to express ROI as a percentage, which makes it easier to compare with other marketing channels or investment opportunities.
So, if you spent $1,000 on a direct mail campaign and generated $5,000 in sales, your Print Marketing ROI would be:
ROI =(5000-1000)/1000 x 100 =400%
This would mean you earned $4 for every $1 you invested, indicating a highly successful campaign.
Understanding your Print Marketing ROI allows you to make informed decisions for future campaigns, optimize your marketing budget, and make a strong case for the value of print marketing within your overall marketing strategy. Therefore, learning how to calculate and interpret this metric is crucial for marketers who are responsible for multi-channel strategies that include print media.
The Importance of Measuring Print ROI
Now that you understand what print ROI is, it’s important to recognize the value of measuring it. Here’s why:
Aligning marketing communication efforts with business objectives.
By tracking the ROI of your print campaigns, you can identify which activities are driving the most leads or sales and adjust their focus to meet your business goals. This enables marketers to make more effective future marketing decisions when it comes to resources and budget allocations.
Identifying new opportunities.
Tracking ROI helps marketers identify areas where there is potential for growth or optimization in the future. By understanding which activities are generating the most ROI, marketers can use this data to focus their efforts on those areas and increase the overall effectiveness of their campaigns.
Identify areas for improvement.
Print ROI can also help marketers identify areas where they need to make improvements. This could include changes in their creative elements or the targeting of their audience, which can improve overall campaign performance and ultimately lead to more sales.
Improve your investment of time and money.
The most important benefit of tracking print ROI is that it allows marketers to make better use of their time and money. By understanding what campaigns are generating the most leads or sales, they can focus their efforts on those activities and save money on campaigns that don’t work as well.
Prove the worth of print to decision-makers.
As they say “numbers don’t lie.” By tracking and reporting on the ROI of print marketing campaigns, marketers can prove to decision-makers that their efforts are paying off. This helps build trust in the marketing team and can help them get more budget for future campaigns. With a positive mindset and data to back it up, they can be confident that their investment is generating the desired results.
Keep your effort focused on what works.
You never know what will work and what won’t until you try it, but by tracking ROI, marketers can quickly identify which campaigns are giving them the best return on their investment. This helps to ensure that their efforts are focused on activities that produce results and allows them to adjust and optimize accordingly.
5 Tips for Tracking Your Print Marketing ROI
We’ve all heard it before, print marketing may be one of the oldest forms of advertising, but it still has great potential to reach a large audience with your message. But if you’re looking to make sure that every dollar spent is tracked and accounted for, then measuring ROI (Return on Investment) can be essential. Here are five easy ways to track your print marketing ROI:
1. Use Direct Mail Tracking Codes
Using direct mail tracking codes can be an effective way to measure the success of your print campaigns. By including a unique code on each piece of print material, you can track when and where it was sent, as well as how many leads or sales it generated. This data can then be used to calculate ROI and help you make better decisions in the future.
For example, QR codes are a great way to measure engagement with your print and promotional materials. By including them on your pieces, you can track how many people scanned and viewed each page.
2. Implement Custom Landing Pages for Each Campaign
Creating custom landing pages for each campaign can be a great way to track ROI. By including specific URLs on your print marketing materials, you can direct potential customers to a page that has been designed specifically for that particular campaign. This allows you to track the number of visits and conversions from each landing page, as well as measure their print advertising effectiveness in generating leads or sales.
3. Attach Unique Web Addresses to Print Media Pieces
By adding unique web addresses to each print media piece, you can track the number of visits and conversions from that page. Similar to QR codes, this will further help you track the success of a given campaign and allow you to make adjustments if necessary. Additionally, tracking these visits can help you better understand your target audience’s interests and behaviors by identifying which print marketing pieces received the most engagement or drove the most conversions.
4. Offer Free Estimates or Consultations for New Customers
Offering free estimates or consultations for new customers can be a great way to track ROI from print campaigns. By offering these services, you can measure how many leads are generated from your printed materials and calculate the cost per lead or sale. This data will help you understand which activities are producing the best results so that you can focus on those efforts in the future.
5. Ask Customers How They Heard About You
Finally, asking customers how they heard about you is one of the most straightforward ways to track ROI from print campaigns. By getting direct feedback from your customers, you can measure the success of each campaign and adjust accordingly. Call tracking systems can also be used to measure the number of leads or sales that originate from a particular print piece.
Get Better Print Marketing Campaign Results With Davant Indy
Getting the most out of your print marketing campaigns doesn’t have to be difficult. At Davant Indy, we specialize in helping our clients create effective and impactful print materials that generate results.
From design and printing to promotional products, we’re your one-stop shop for all your print marketing needs. You’ll be glad you chose Davant Indy for your next print marketing campaign here in Central Indiana.
Ready to see what Davant Indy can do for you? Contact us today to get started!