Conversions, new metrics and KPI for QR code campaigns
Today we are sharing a series of metrics and success indicators around the typical conversion funnel to measure the effectiveness of a QR code based campaign.
You Can't Manage What You Can't Measure (Peter Drucker)
It will be precisely a good strategy what will get the best performance on your campaigns. Using a QR code should not be a goal in itself.
New KPIs in campaigns with QR codes
As a user of our dynamic QR Codes platform, you will obtain detailed statistical information on the activity of your campaigns. On the other hand, it is important to analyse their efficiency based on the resources invested. We propose the following indicators:
- CPI - Cost per impact. In the case of written publications it would be equivalent to the cost of the insertion divided by the total readership. If we place ads on billboards, IPOs, etc. we should look for alternative systems to determine the CPI.
- % scans - Scan ratio. We will obtain it by dividing the number of scans by the total number of impacts (%). It will be used to determine the success of a campaign, its suitability, compare the impact between different media, etc.
- CPS - Cost per scan. It will help us to determine the profitability of the campaign
- RPS - Revenue per scan. In cases of m-commerce we will be able to value the ROI of the campaign. In the case of impulse buying (e.g. App) we will be able to analyze campaigns with unprecedented depth, reliability and speed.
- Other metrics. Depending on the goals of the campaign, we can set the indicators we deem appropriate in the same way as we do in more evolved desktop websites in terms of metrics and analytics
Use the minimum of analytics tools (no more, no less). Don't scatter your information
To conduct studies that include these variables it would be desirable to use as few analytical tools as possible. If the information is centralized, the customer journeys should be easy to follow up.
If we integrate the tracking of actions that use QR codes in our Google Analytics campaign (for example) and/or segment these users we can draw interesting conclusions from many perspectives
This way we could study the profile of users who have entered our site via QR, their navigation patterns in isolation or even assign conversions
We close the post with some of the questions that in the near future should concern online and offline marketers, if there is a difference.
- What is the purpose(s) of the QR?
- How can I increase the % of captures?
- Is the QR visible enough?
- If I make it bigger what happens?
- Do we have a good call-to-action?
- Is the value proposition interesting?
- Are we exploiting the full potential of the smartphone?
Make > Measure > Make±1 > Measure > Make±1...