Reinforcing Your ROI

By Tom Marx, October, 2001

Spending money on marketing and advertising has become a major concern for businesses in 2001 - and again looks to be a top concern for 2002. Determining effective ROI for this seemingly imprecise investment has become even more challenging in the current market downturn.

We believe that marketing programs MUST justify themselves -- not only in soft revenue, but in hard dollars, as well. Those responsible for marketing must continue to prove the worth of their ideas.

ROI formulas** are pretty straightforward in design and implementation. We are happy to discuss the details of such a formula with you.

So, how do you reinforce your ROI? Here are some ideas:

• Research


• Establish a benchmark for product penetration and brand awareness
• Verify your progress on an annual basis
• Find out what concerns your customers and prospects really have


• Lead Generation Programs


• Designed and tracked properly, these programs will bring highly qualified sales leads to your doorstep


• Integration


• Integrate your efforts, both internally and externally, for maximum return
• Take advantage of all media
• Communicate with your staff and reps to get everyone on the same page


• Assessment Process


• Set up the benchmarks in the beginning of each fiscal year
• Do assessments on a quarterly basis
• Include your advertising/marcom agency in the process

Quickly implement mid-course adjustments as needed

Link to pdf article

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