The BFCM frenzy has come and gone. You've executed your marketing campaigns with panache–your emails were sent, your ads were seen, and your social media posts garnered attention.
But now as the dust has settled and the virtual shopping carts have been emptied, it's time to dissect the true impact of your marketing efforts.
Here's a breakdown of essential metrics to help you gauge your campaign's effectiveness.
Measure the conversion rates during pre- and post-BFCM periods. Assess if your campaign successfully converted subscribers or followers into customers or drove other desired actions. You can visualize the leaks in funnel form right from Forward dashboard or in the Analytics section from your Shopify account.
With lofty discounts, your BFCM campaigns should have worked their charm and turned a lot of non-buyers into first-time customers.
Bonus Tip: Segment these people and pay special attention to them. Promote your loyalty program and see how you can make them do a second purchase.
Click through rate
Analyze the effectiveness of your call-to-action strategies and messaging by assessing the click-through rate (CTR) of your BFCM campaign.
A high CTR indicates that your campaign resonated with your target audience and motivated them to engage further with your brand.
Return on investment
Calculate your total campaign spend during them BFCM period and compare it against the revenue generated during the same period.
Did you know?: If you're using an ESP like Forward, you'd only pay for the number of emails and texts you'd send and not for the number of contacts, thereby significantly uplifting your profitability.
Total Revenue generated from the campaign
The total revenue is a direct and tangible indicator of how much money your BFCM campaign has generated. It tells you how successful your campaign was in driving sales during this crucial shopping period.
However, don't be trapped into thinking increased revenues automatically equal increased profitability. Your margins will be already slim. Make sure you're profitable on each sale or at least your 60/90-day LTV is higher than acquisition costs.
Evaluating the true success of your BFCM campaigns is about more than the initial sales rush. KPIs such as conversion rate, subscriber-to-buyer conversion, CTR, ROI, and total revenue generated provide a comprehensive view of your campaign's effectiveness.
By carefully analyzing these KPIs, you can refine your strategies and ensure your campaigns leave a lasting, profitable impression.
Cut your email marketing bill by 67%
No limits on contacts.
Pay only for what you use.