In order to properly analyze and measure the success of a marketing campaign, the resulting transactions must be assigned to the outreach activity that is believed to likely to have influenced the action.
For the analysis to be efficient, the organization of both the outreach and the transactions data is important. One example would be a mailing list, utilizing keycodes that represent the offer given to the contact in question. Sometimes a respondent will include the keycode of the offer, often they will not.
Most frequently when a customer does go forward with the offer, be it attending a meeting or purchasing a product, the outreach record and the transaction record remain independent, with no straightforward link between the two.
To link transaction records to outreach records, some matching may be necessary. The business rules for linking these records will vary in each case, but will often rely on the matching of the contact’s name in addition to some other piece of information to confirm that they are not different people with the same name. The matching algorithm may give varying confidences on the records to be considered a good match.
For example, offer AB1 was mailed to 1,000 people, and, based on matching the mail/outreach file to the transaction file (specifically the transactions in question), 50-60 customers went forward, depending upon the match confidence level to be accepted.
The analysis may then be taken a step further to determine the demographic of the customers that went forward in contrast to those that did not. This may affect what “type” of customer is mailed a certain offer, as some evidence may show which campaign is most effective for any given variety of contacts.
When marketing campaigns are properly analyzed, the campaigns that follow will benefit from the intelligence and the insight gained. Over time campaigns will become more effective, garnering higher percentages of success, and saving time and money.