[Free Takeaway Inside - Ready-to-Use E-Commerce Customer Behavior Segments ]
You have run a few marketing campaigns and received a good rate of response. But are you happy with the response you have received or do you think you can do better?
Turns out, most marketers are happy to settle for a low response rates even if campaigns are targeted at existing customers.
In fact, according to the study done by the Direct Marketing Association, mobile, social media, and email all had response rates at a fraction of 1%.
Although these may be the average rates, it doesn't mean you have to settle for them.
Especially when targeting campaigns at existing customers, your response rate should be high since you probably know a lot about your existing customers and their buying behavior.
It's essential to dig deep and find the reasons why you are unable to attract higher responses to your campaigns and identify effective ways to maximize response.
Reasons Why Your Campaign Response Rate is Low
Customers responding to your campaigns is a collective function involving several different variables including:
- Customer Behavior
- Communication Preference
Any of these variables could be the reason why your campaigns don't deliver the intended results. Constant improvements in these areas will help you eventually maximize responses.
Ways to Maximize Campaign Response
Target Sharply Defined Segments
A primary factor that can drive your campaigns response rate is your targeting relevance. Targeting the relevant customer segments with careful analysis of customer behavior and buying patterns is a must. Therefore plan your campaigns by sharply defining customer segments with relevant criteria and don't succumb to the business pressures of running campaigns quickly without a thorough analysis.
Download the Free Guide to Essential E-Commerce Customer Behavioral Segments Based on Your Shoppers' Regency of Purchase and Run Targeted Campaigns.
Capture and Track the Key Factors that Influence Campaign Responses
Maintain contact and response history of the following factors to determine the optimal combination of factors that can help you maximize responses. These include:
- Segments Targeted –identify the best-performing segments relevant for your campaign goals
- Marketing Action - the intended marketing action that you wish to achieve from the campaign like increasing usage, purchase, cross-sell, up-sell, etc.
- Offer - the best offer that incentivizes customers to perform the intended marketing action.
- Number of Exposures - the number of times the customer views your campaign before responding to it
- Communication Channel - capturing this information will give you insights into the best channel of communication to reach out to your target segment
- Campaign Relay Timing - the best time and day of the week to relay your campaigns to maximize responses
- Creative Variant - a combination of creative elements - call to action, message, imagery that elicits the highest response.
- Response Status - has the customer responded to your campaigns?
Capturing all this fd`c`will help you increase response rates to each campaign and give you insights on how to effectively target and personalize subsequent campaigns.
Build Campaign Response Optimization Models to Predict and Deliver Results
By capturing the key factors that impact campaign responses, you can also build statistical models to find the winning combination of factors to follow and implement in your campaigns. These response maximization models will help you systematically come up with the winning elements that deliver success and adopt algorithmic marketing strategies.
Using machine learning algorithms and analytical modules, you can compare different models to find the one that works best to help you find the right range or value for each of the factors that impact campaign responses.
Optimize and Increase Campaign Response Rates
Maximizing responses to campaigns may seem cumbersome, but it need not be so. The most critical aspects include a sharper segmentation strategy and tracking of campaign response. Most of these tasks are ongoing processes that will take some time to set up and build. However, when done right, they can make a huge difference - by growing the campaign response rate by even up to 40%.
Find the right tools that make it possible for you to automate the process of defining sharp segments and tracking campaign responses to enable you to quickly analyze and take action.
All in all, this will help you understand your customers better, improve overall campaign performance by facilitating informed data-based decisions and help you leverage deep insights into your business.
So, what are some of the tactics you follow to improve your campaign responses? We'd love to hear back from you. Do write to us at firstname.lastname@example.org .