ROI-Taking Measure Of Your Marketing Efforts
It’s the question that strikes fear into the heart of the most seasoned marketing manager: “What was the return on investment (ROI) for this program (e.g., email blast, trade show, social media campaign, etc.)? It’s a legitimate question because company executives and the people to whom they answer are naturally concerned with the “bottom line” and want to make sure that marketing expenditures are netting results. However, it can also be a challenging and complicated query. Determining the exact contribution any given marketing program has on revenue growth or profits is akin to defining happiness—it depends on to whom you are talking and what their priorities are!
Yet, difficult or not, measuring your marketing efforts is necessary and, thankfully, not impossible.