Of course printers know all about print. We’re immersed in the world of the tangible. Beyond our clients’ jobs, marketing wasn’t something you had to do or think about … but now, the marketplace has changed.
Now more than ever, Printers not only need to embrace the world of marketing but to understand how it applies to them – not just their clients. We need to be able to create a plan for ourselves that includes digital avenues, make them fit together with our print, and then create the tangible results we’re so used to with print. But how?
You know how to measure your bottom line, profitability, probably even your workflow processes, inventory, and consumables, right? While those are key performance indicators for overall business health and operations, there is a big part missing. Last time, I posted about CRM and mentioned a term – KPIs. Let’s talk about what those are.
There is an undeniable truth to the saying “You are what you measure.” If you’re an old-school marketer /business manager like me, KPIs were at the core of your tools of measurement. When you ask a marketer from the digital era how they define and identify their KPIs, their answers will be drastically different from my own, so let’s start there.
Key Performance Indicators are what marketers use to measure success of a marketing campaign or plan; business owners can use them to measure the success of their business. KPIs aren’t just metrics, they’re the metrics that you deem to be the most important indicators of success.
From Wikipedia: A performance indicator or key performance indicator (KPI) is a type of performance measurement. An organization may use KPIs to evaluate its success, or to evaluate the success of a particular activity in which it is engaged.
While campaigns have largely gone to the wayside in marketing approaches today, I still personally use them internally as a way to organize my efforts. We currently have a local campaign, regional, and then a print industry campaign. The KPIs we’re tracking include:
- Conversions (number of specific desired actions taken)
- Units per Sale (number of leads generated by each channel of the campaign)
- Dollars per sale (cost paid per conversion broken down by channel and then overall cost)
- Retention (percent of current client base responding to campaign)
You’ll notice how I didn’t mention things like views via a specific channel or really, mention any digital marketing metrics. Why not? Because I don’t feel that focusing on a specific channel in most campaigns is the key indication of success of that effort.
Sidebar: Let’s take a look at where we would possibly use digital metrics.
If my goal was simply to increase fans on my Facebook page, and their engagement, then I would look for these KPIs:
- Conversions – numbers of clicks on my ads that resulted in likes or comments on posts or page.
- Units per sale – how many people clicked on each specific type of ad
- Dollars per sale – how much I really paid per click that generated a conversion
- Retention – was I able to keep current fans engaged as well, or did I simply appeal to new clients
Earlier this month, Richard Dannenberg of DP Marketing Services did a great 2-part post that digs a little deeper into these metrics, first by defining KPI and its importance, and then by metrics themselves. (Links to his blog posts: Tape Measures and Marketing Measures Part 1. / Tape Measures and Marketing Measures Part 2.)
Tape Measures and Marketing Measures (Part I)
Want to see what I measure? Well, you’ll have to check back next month – I’ll break it down in detail.
Kate Gansneder is the VP of Marketing & Culture at Washington Graphics. She started her career in marketing and business management in 1998. Her experience comes from both the retail and the creative side, where she brings a unique perspective for the print business. In her off time she drinks far too much coffee, spends time with her husband and kids, travels, and consults on business and marketing for creative. You can connect with her all over the web at her AboutMe profile – but don’t forget to follow her on Twitter @PrintingBig.
One Response
Kate, I appreciate your calling attention to the differences between the traditional marketing perspective and the digital mentality. I completely fall into the latter, and I’m eager to learn more from your experience.