M2 Raising Marketing to a Higher Power
Achieving greater efficiency and effectiveness
Michael PaladiniBerenson, Isham & Partners, Inc.
As it's often practiced, direct marketing focuses on response and conversion rates: 'how many inquire and how many buy.' But current 'value equation' thinking has moved direct marketing's best practitioners from sole focus on those two rates to: 'How much money does our effort generate?' and, even better: 'How much profit does our company make?' The answers to these questions start in response rates, but weigh those rates against a full range of cost and revenue factors. At my firm, we...