They say knowledge is power, but here at Three Dog, we believe knowledge is profit: knowing your metrics is fundamental to creating profit. Better yet, it helps us help you. Here, our shipping and postal optimization experts explain the benefits to you (and us) of knowing your business at a metric level.
Conscious Decision-Making vs. Reactionary Choices
Conscious decisions are thoughtful; they are made prior to an event occurring, and not due to it. While it is inevitable that some decisions will be made based on unforeseen circumstances, consistent conscious decision-making is critical to the success of a business. What business owners want, and need, is to choose partner companies carefully, and consciously. Business owners need to seek out partners who will help them further their vision and help them meet their goals. So, how can a business make these important decisions well? By knowing and understanding their key metrics to ensure that decisions about expenditure, partnerships and new campaigns are made with the right information in mind. Here are a few important metrics to keep an eye on.
Sales Revenue – not just total $ but cause and effect
Sales revenue is a metric that measures income from customer purchases of goods and services, minus the cost associated with things like returned, lost/undeliverable or stolen merchandise. Further inspection of this metric provides key insight into the details of your revenue increases and decreases. This can be critical, as an example, for determining the success of advertising campaigns: does your business experience a marked increase in sales revenue during and immediately after a marketing campaign? Or, are revenues staying stable; even decreasing? Your answer to this question will help you make vital decisions regarding marketing campaigns. Perhaps your marketing mail isn’t making it to the intended destination on time. Perhaps the size or design is causing it to get lost in the shuffle. Maybe you’ve spent most of your efforts on online marketing, and let direct mail fall by the wayside. Whatever the case, by knowing this metric, and the implications thereof can help optimize your marketing strategy. Three Dog Logistics works with your team to help optimize every aspect of your marketing plan to reduce your cost of delivery, whether by drop shipping, employing direct mail strategies, tweaking mailer sizes to help ensure that both your spending and earning metrics are meeting their intended goals. This dedication to understanding metrics and making conscious decisions also allows Three Dog to make quick, nimble decisions that help you save money: help us help you!
Customer Loyalty and Retention
Getting customers in the door is one thing, but getting them to return time and time again is even more vital. This too will have much to do with your marketing campaign strategy, and can be measured through customer surveys, direct feedback at point of purchase or on an ongoing basis and purchase analysis. Knowing this metric will help you know which strategies pull customers in, and encourage them to make repeat purchases.
As mentioned above, Three Dog can be an invaluable asset in improving your marketing campaign results and decreasing costs. This also applies to premiums and samples, whether front-end or back-end: a classic customer loyalty and retention strategy. Whether a business or non-profit, Three Dog is ready to help you with parcel consolidation, mitigating the expense of premiums and samples, making both you and your customer happy. Our Premium Fulfillment service will pick up, package and get your premiums into the hands of your recipients and donors at the lowest possible cost. But knowledge of how your premiums’ strategy—or lack thereof— could impact customer loyalty is the necessary first step to taking advantage of these savings. With this knowledge, Three Dog can create a customized strategy that best help your unique needs as a business.
Cost of Customer Acquisition
Cost of customer acquisition measures the total cost associated with creating new customers, including all aspects of marketing and sales. Customer acquisition cost is calculated as total acquisition expenses divided by total new customers over a specific period. This will clue you in on whether your marketing and advertising investments are paying for themselves. If they aren’t, it’s time to make some careful decisions. We are all about the details at Three Dog: need to cut costs on postage of direct mail? We’re on it. What about the costs of shipping online purchases? We’ve got that covered too. If you get us the numbers for your marketing and sales costs, we can help you improve them—as far as postage and shipping is concerned.
Three Dog’s Pledge to You
Sound too good to be true? It isn’t. We want to help you slash costs for your postage and shipping needs, boosting marketing and sales metrics. Bring us the numbers, and we’ll find a solution. For more information, or a complimentary consultation, contact us today!