The New Alternative
Beyond budgeting and testing, noncatalog prospecting requires a fresh approach
By
Shari Altman
Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
0 Comments
Comments
The value of customers is consistent with the cost to acquire them. Mass media — be it DRTV spots or mass magazines — costs less per customer to acquire but delivers less long-term value. Execute careful goal-setting and analysis of results in alternative media.
Set Goals, Then Test
Given the dynamics of cost and lifetime value, set your goals before you test. Every medium has unique measurement tools, but you can define standard goals to compare customers acquired from one media as opposed to another. Cost per order, average order size, gross sales and percent of promotion spending are good places to start. You can define goals that span all media, allowing you to have an apples-to-apples comparison.
0 Comments
View Comments
Shari Altman
Author's page
Related Content
Comments