Chapter 53 Response Rate
Measurement Need
Marketers want to measure the total number of advertisements (or mailers, or offers) they send and compare it to the number of customers who responded by clicking through or, best of all, actually purchasing. One of the marketing areas where more accurate measurement is feasible is direct marketing campaigns (such as direct mail or online permission marketing). Marketers want as high a correlation as possible between total advertisements and the total number of customers who responded to the advertisements.
Solutioni
The response rate refers to the percentage of people who respond to an offer relative to the number of people who received the offer. The following formula captures the key variables: ...
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