“What’s a good response rate for our marketing?”
We hear this question a lot and the answer is complicated. Every business is different and what each one trying to achieve with their marketing can vary. If you’ve been wondering about this question, it means you’re building your own marketing infrastructure. A great first step!
For those outside of the marketing world, it’s easy to assume that a 25%-50% response rate is standard for your marketing efforts, but those numbers can be unrealistic for marketing success. The quality of your mailing list, the level of engagement, your message, and the offer that you’ve shared all factor into that response rate.
We know it sounds crazy, but the ultimate goal of any marketing effort is to get a 1% response. Yep! 1% is GOLD in the marketing world. Keep in mind – 1% response is not sales obtained. Rather, 1% is the responders to the content. We’ve seen campaigns with higher numbers, but always in response to a free giveaway or great sales offer. It’s important to remember that special offers don’t ensure loyalty. It’s consistent messaging helps to build those relationships.
If you don’t know what these numbers are for your business, now is the time to begin measuring! By analyzing your response rate, close rates, and retention rates, you can improve your numbers and continue to build your business by connecting with your audience.