Tools: Return on Investment, the formula
ROI Calculation Tools
In the digital environment, there are many channels through which you can develop actions to achieve your marketing objectives. Each channel generates different effects.
Social media, for example, is another communication channel within your digital marketing strategy, but there is no tool that provides you with hard data on its ROI, only approximations of it.
Some of the tools that aim to facilitate the calculation of ROI in social media are:
Social Annex
It is a software that will help you acquire, convert, retain and know the percentage of customers who have completed the purchase cycle of your product and/or service to increase your conversion rate.
The platform offers a fully self-managed service and customer loyalty programs across all channels.
As for the benefits, he considers four groups relevant, namely:
Visibility and traffic: How much would it cost you to get the same number of visits if you had paid on a cost-per-click (CPC) basis?
Public Relations. Uses the equivalent value of an offline advertising methodology.
Word-of-mouth.
Market research.
Adobe Social
This software offers a complete set of statistical, social, advertising, targeting and web experience management solutions, in addition to a control panel from which you can view everything you need to control a marketing campaign.
Adobe Social has a system that experts gambling email list define as reliable and sophisticated, which directly connects and relates business results obtained with interactions on social networks.
In this way, it is possible to know how many sales are being achieved thanks to promotion on the networks and if the campaigns are offering the expected results.
DKS Social Smart
Using the theory of equivalent costs, the platform is able to estimate the impact on the profits of the activity, even at a more detailed level.
When your ROI is negative, the return on investment is not what you expected. First of all, stay calm. You can still take some actions to improve it. We share three tips with you:
Bet on the products with the best results
Analyze your products or services and identify those that are generating the best results in terms of sales and profits. Focus on promoting and empowering these products, as they have the greatest potential to improve your ROI.
Dedicate additional resources to marketing, improve its visibility in your sales channels and allocate specific marketing efforts to boost demand.
By focusing your efforts on the most profitable products or services, you can maximize revenue and improve your overall ROI.
Invest in automation
Process automation can be an effective strategy to reduce costs and improve operational efficiency.
Identify time-consuming and resource-intensive processes and assess whether you can automate them with the right technology and software. This will help you eliminate repetitive tasks, minimize errors, speed up response times, and free up resources for higher-value activities.
Improve investment efficiency
Evaluate the results and analyze which aspects of the investment are not generating the expected return .
Identify areas for improvement and seek solutions to optimize investment effectiveness. You may consider adjusting strategy, changing approach, or improving internal processes.
What to do when your ROI is negative?
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