Measure Your Marketing ROI compensation

There is a well known truism in business you get what you measure. Therefore, if you are not measuring the results of your investment in advertising dollars in terms of present and predicted future earnings and profit results then basically you are investing blindly. Let us say you comply with the established norm to your business and invest in advertising as a percentage of earnings. By not establishing a direct connection between marketing investments and earnings, you do your company a disservice. Your marketing efforts will be more successful if you insist that they are measured based on net contribution to the bottom line.

The ROI from Product Marketing is quantified by win loss ratio, effective product alterations, merchandise margins, and on time delivery of new products to the marketplace. All these can be quantified in terms of earnings and profits as related to RD and product marketing investments. Make certain to take account of your successful projects completed on time and examine the lifetime earnings per new product in the marketplace.

 

Sales tools, such as Collateral, videos, sites, channel training materials, competitive analyses, business segment analyses, even POP displays, are geared toward speeding prospects through the sales funnel. With lead generation databases and Sales Force Automation SFA tools, it is possible to measure how quickly prospects proceed to the end line. You are able to assess the trends over time by potential supply, product interest, and station. It is possible to funnel x roi legit the immediate value of shortening the sales cycle, or raising the win rate. But confirm your SFA collects the advertising information required to correctly quantify your marketing programs e.g. average sales length cycle and win loss ratio and your channel groups are rewarded for providing the right data.

Driving business Opportunities to the sales funnel is the basic reason Marketing Communications departments exist. They are not there to simply build consciousness, create a buzz, or get local papers interested in a story. Monthly success reports based on magazine readership or site visitors by themselves are almost useless. Instead, measure your Marketing Communications ROI by driving the sales channel to report where ALL prospects come from and link this to earnings. Collect and track leads from conferences, events, trade shows, and direct mail, and insist on conversion mechanisms for site visitors. The goal here is Manifold to know how many prospects you will need to get one new client to demonstrate how much the typical lead prices based on source and to know the best source of high quality leads and your overall advertising cost of new client acquisition. Then it is easy to identify exactly what it costs to create the amount of qualified prospects you want and to turn these prospects into new business to your organization. This is the bottom line for measuring marketing ROI. As soon as you measure it, you are now in a position to better manage it to your organizations benefit.

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