Whatever campaigns you run and however way you run them, you always want them to perform well. So whether you are sending out an email campaign for your latest limited edition jersey release or sending an SMS campaign reminding your previous season holders to renew their season tickets for your current season, the hope is always that you will achieve your goal. In order for you to understand the performance of any of your campaigns, you need to have some metrics you can measure.
In the first instance, the measurements that people think about are your typical delivery-rate, open-rate, click-through rate, click-to-open rate, unsubscribes, bounces, and complaint rates. These are very good to know because they help you understand the relevance of your messaging because people only open emails they find relevant to them and only unsubscribe if they find what you are saying to be a nuisance more than helpful. Or maybe once again, it’s just simply because they find your messaging irrelevant. If you have too many bounces, that clearly indicates the quality of your supporter database.
While these metrics are fantastic to know, you also want to know something even more important: the monetary performance of your campaign. You want to know the number of unique customers and total orders. But you also want to know the Daily breakdown of revenue per Campaign, the total revenue of each campaign, the Daily breakdown of Orders per Campaign, Top 10 Sold Products on Campaigns. But you also want to go deep and know things like Recency Supporter Status before Purchase, Frequency Supporter Status before Purchase, and Monetary Supporter Status before Purchase.
Okay, let’s break this down a little bit to give an in-depth understanding of how you can effectively measure campaign monetary performance. This is crucial because you want to identify the campaigns that bring in the most revenue and be able to keep doing it over and over again while increasing your revenue. Because that is the biggest goal: you want to bring your supporters’ average spending to as high a number as possible. That is the only way to increase revenue in a sustainable way. Let’s look at an example, shall we:
You want to increase ticket sales for your last three games of the season. That’s your goal, so you send out an email campaign asking your supporters to celebrate the end of the season with you because there is no one better to celebrate with than your fans, right? Once you have sent this out, you will see a spike in ticket sales, but you want to understand which of your supporters responded and engaged the most with your campaign. So you would go into the Campaign Monetary Performance section in your analytics framework on the Data Talks Sports CDP. There you will find all the out-of-the box dashboards with in-depth metrics.
And from the dashboards, you will understand that:
200 of your supporters bought tickets
And a total of 1 000 tickets were bought by your supporters
You will notice that half of these purchases were made within the first couple of hours after you had sent out the campaign.
From your dashboards, you will get an understanding that the supporters who bought these tickets belong to your low-spenders segment and that the majority of them were idle and occasional supporters - those who purchase only when there is a special event (such as celebrating the end of the season). You will also be able to see the geographical location of these fans. In this instance, you would find out that the supporters in neighbouring towns would be the ones that are idle and occasional supporters and, therefore, would have been the ones to interact with your campaign.
From this one campaign, you would not only understand the monetary performance of your campaign, but you would also understand how to engage your idle and occasional supporters so you can turn them into loyal supporters. Then that would be an idea for your next campaign.