What is the ROI of your marketing efforts?
This pen is trying to prove a point.
Often times businesses spend their marketing dollars with the hopes that some of it will turn into revenue. For some, it’s buying pens with their logo. For others it’s spending thousands on a Yellow Page ad. Some even spend money in online marketing without any idea of their ROI. I’ve even heard business owners with a marketing philosophy that amounted to, “try it out, something will work.”
Was this pen a waste of marketing money?
I gave you this pen so you’d visit this webpage. Now that you’re here, I hope you will contact me for my online marketing services. Since I’m keeping track of how many people contact me, through this form, I’m able to make a simple calculation:
I paid $X for the pens /
the number of people who become paying clients =
my cost per acquisition for a client
When you pay me for my services, this becomes even more clear:
(The $X I paid for the pens /
the number of people who become paying clients ) x
the $Y they pay me for my services =
$Z return on the investment from the pens.
Was my marketing investment in these pens worth the expense? Time will tell- but eventually I’ll know for certain.
Can you quantify the ROI for your marketing efforts?
Online marketing efforts make it very easy know how much money your company will make from a marketing investment. If you don’t know the ROI from your marketing efforts then you should hire me, as a consultant.