Our audience management platform, Multipub, has a module specifically designed to manage promotions. This dynamic tool helps publishers seamlessly determine return on investment (ROI) for various marketing initiatives. It does this by linking costs to sales made.
The promotions module was created to:
- Provide profitability analysis on marketing efforts
- Simplify and reduce data entry errors for orders coming in through promotions
- Automate fulfillment for premiums that are to be given with orders
- Enforce promotion policies throughout the life of the order
Promotions are defined based on a few key attributes in our platform.
- The first is products. When setting up a promotion, users are asked which ones will be offered.
- Next, Multipub needs to know the rate. Now is the time to provide any special pricing.
- Then, users must develop the list or lists, which will be used for their campaign. They should know if they will be pulled from an in-house database or if a rental will be used.
- Additionally, the system requests any costs associated with the promotion and details on any premiums that might be tied to the offer.
- Finally, Multipub allows organizations to outline related policies specific to the campaign. Here, they’ll define how to handle things like cancellations and refunds.
While all of these elements are critical in setting up a promotion, the ability to track related costs helps businesses more accurately determine their ROI. These could include pricing for list rentals, production, premiums, artwork, mailing, emailing, or any other cost incurred with the promotion. To offer users the opportunity to better tailor their efforts, Multipub can split those costs across the various products included in the promotion at a percentage defined by the user.
If the promotion includes a premium, publishers can choose how and when it should be delivered. For example, they can be made available on any order or just those received with payment. Fulfillment of these items is seamlessly managed through Multipub’s shipping system.
After promotions are defined, a keycode is assigned by Multipub. When it is entered, the system will automatically know which products are available and their prices. It will also provide direction as to which premiums go with the offer and any related refund or cancellation policies. Not only does this simplify order processing, it also boosts accuracy.
Once orders start arriving, the system can provide P&L analysis. Since Multipub knows the costs and the sales, our reports module can produce profitability reporting for any list, product, rate, etc on the promotion. This means you can choose the metric or metrics you wish to analyze. It also delivers reports on the cost per registration or response, if the promotion was for something other than a paid order. Our approach gives organizations a more personalized and meaningful understanding of their costs and how their goals were met.