This question was initially asked on the WAA Linked group.
Here's my answer:
You don't need to do any tagging. At the end of the month, check out how much money came in, how much came out, and use a parametric advertising mix optimization model based on contrast analysis. Not only you can tell (from using such a model) if print advertising works better than TV, but you can also tell:
And you can do this without gathering any personal information about your prospects - not even web log stats.
- how long it takes for TV or print ads to reach its peak
- how a TV ad viewed today, compared to a TV ad seen 3 months ago, contributes to a sale (in short: square root function of time, 6-month time lag between first view of TV ad and sales peak for one of my clients)
- how all the channels (radio, TV, print, direct mail, online ads) interact
Note: when you send out monthly newsletter, your newsletter vendor should provide you with a bunch of metrics, including open rate, click rate, attrition, etc. at the member level. If not, you need to talk to me.
I did this type of analysis for NBCi (NBC Internet), and we were able to tell: