How to Measure the ROI of Print Marketing Campaigns

Then it’s time to get serious about measuring the ROI of your print marketing. Just because it’s offline doesn’t mean it’s untrackable. When you know your return on investment, you can justify your budget, improve creative strategy, and tie offline spend directly to business impact. If you’re not measuring ROI clearly, you’re just hoping your efforts are working. Use this simple four-step process to get meaningful, measurable insights from your print campaigns—without relying on guesswork.

1. Start with Clear Goals and KPIs

Before your first flyer is printed or your next postcard hits mailboxes, lock in your campaign goals. What are you trying to accomplish? Focus on outcomes that can be tracked and tied to your marketing spend.

Then choose KPIs that reflect those outcomes. For print marketing, consider goals like:

• Drive store foot traffic → Track in-store visits using scannable QR codes or unique coupons

• Increase direct sales → Use promo codes exclusive to print pieces to trace revenue

• Boost web traffic → Track print-driven sessions with custom URLs or UTM-tagged links

• Generate leads → Use printed CTAs that point to lead capture pages or trackable phone numbers

Make every piece of print material actionable so you can monitor response and performance.

2. Set Up Tools to Capture Print Attribution

You can’t analyze what you don’t track. Modern tools make it possible to connect offline marketing to digital actions and revenue.

Here’s how to prep your tracking:

• Use unique URLs or landing pages—Create easy-to-remember web addresses tied only to the print campaign (e.g. yoursite.com/offer1)

• Apply UTM parameters—Add UTM codes to any URLs to monitor visits, conversions, and campaign-specific performance in GA4

• Leverage QR codes—QR codes bridge print and digital seamlessly; tie each code to a distinct campaign link

• Track call volume and leads—Use campaign-specific phone numbers via call tracking software like CallRail or Twilio

• Monitor coupon code redemptions—Assign different discount codes to each print piece and measure usage

Make your print pieces measurable by design. A compelling CTA means nothing if there’s no way to see who responded.

3. Calculate ROI with Real Numbers

Once data starts coming in, calculate how well your print campaign performed. Use this formula:

ROI = (Revenue Attributed – Cost of Campaign) / Cost of Campaign

If you spent $5,000 on a direct mail campaign and it drove $15,000 in attributed revenue, your ROI is 200%. But don’t stop at the top line—analyze what made the difference:

• Which print pieces performed best?

• What offer or message drove the highest redemption rate?

• Which audience segments or zip codes responded more than others?

Digging deeper helps you isolate what worked, so you can do more of it next time—and waste less on what didn’t.

4. Optimize Future Campaigns Using What You Learn

Every print campaign should inform the next. Once you know what moved the needle, use those insights to guide creative, audience targeting, and budget decisions.

Here’s what to act on:

• Refine messaging that drove the highest engagement

• Test different formats like postcards, flyers, inserts, or brochures

• Cut underperforming regions or lists from future mail drops

• Use the best-converting offer again with a new call-to-action or design

• Reinvest in high-ROI campaigns and test variations to improve results further

Even small changes can lead to major ROI shifts. Build testing and analysis into every round of print production.

Don’t Let Print Be a Blind Spot

Print marketing isn’t outdated—it’s just under-measured. When done right, it can drive serious results. But only if you treat it like any other performance channel.

Set measurable goals and KPIs. Use trackable assets like QR codes, custom URLs, and coupon codes. Calculate ROI with real data, not assumptions. Then adjust based on what actually worked.

Stop treating print like a brand play you can’t measure. Instead, make it a performance channel that drives—and proves—real business impact.