Digital marketing strategies continue to evolve every day. One of the latest, unpopular methods of marketing is the QR code. A QR code, also known as 2D code, is popularly used for making swift digital payments to vendors. However, with the right use, they can be an excellent marketing tool.
Breaking down 2D code marketing
Marketing using 2D codes has five data metrics and are indicators of the conversion rate. Tracking the results of each of these five steps will help you determine the success rate of using 2D code in marketing.
1. The number of impressions
Impressions are defined as the number of people who see the QR code. For example, if your QR code is displayed in the TV advertisement of your product, each person can be counted as one impression. It can be difficult to estimate how many individuals see your QR code. While using the QR code only in digital ads, you can estimate the number of impressions easily. You can analyze this data to understand the current audience your campaign reaches which is analyzed to reach your target audience.
2. The number of snaps
The number of snaps is defined as the number of people who scan the QR code. The scan will usually lead to your business’s landing page, product page or digital shop. Therefore, linking the code to a page that provides maximum information to the client is the key. If the scan leads to a webpage with minimal or no information, you’re likely to lose revenue.
Calculate the snap-through rate by dividing the number of snaps by the number of impressions. Since not everyone who sees your QR code will scan it, you can expect this to be a very small percentage. The data derived from this can be used to determine which elements of the ad encourage the viewer to take a snap of the QR code.
3. The number of actions
The number of people who take action even after being redirected to your page is fewer still. For example, if your QR code leads to a products page, the number of people who select ‘add to cart’ or ‘buy’ can be counted as actions. This can be calculated by dividing the number of scans by the number of actions. This determines the success of the page and that of the marketing campaign.
4. Cost per scan
When we interviewed social media marketing companies in Chennai, we determined this as one of the key performance indicators for a QR code. Domancier, one of the best digital marketing companies, uses the cost per scan model to determine the marketing campaign’s efficiency. By using the investment amount for the campaign and the number of scans, you can calculate the cost per scan and determine whether the investment is worth the reward.
5. Revenue per scan
Revenue per scan is the last and most important metric used by social media marketing companies in Chennai. The revenue per scan can be calculated by dividing the profit earned from scans by the total number of scans. This is also used to determine the profitability and success rate of the campaign. It can also be used to determine the rate of interest of the marketing campaign and any customer shifts, trends, or patterns.
These are the five key data metrics that can be used to judge the marketing using 2D codes. The data derived from these five indicators can easily help you adjust your marketing strategy accordingly. 2D codes promote engagement through mobile phones and allow you to contact a customer on the go.