While 28% of marketers say that securing enough budget is their top marketing challenge* …. Marketers that calculate ROI are 1.6 times more likely to receive higher budgets!!!*
If that’s not enough to get you to read on…
72% of organizations that calculate ROI say their marketing strategy is effective.*
* HubSpot offers an incredible marketing resource: The Ultimate List of Marketing Statistics and this sucker lives up to its name!
Most of us know ROI as:
But you can take it soooo much further!
I would argue that you can’t have a great ROI calculation without a great…Results Oriented Idea … or ROIdea.
So, how do you get a great ROIdea?
Every Result Oriented Idea starts with desired RESULTS. At MarketMatch, we always say that there are a thousand things you CAN be doing as a marketer … what are the handful of tactics you SHOULD be focused on?
If your digital campaign gets 200,000 impressions per month with 1,000 clicks … is that good? Without clearly defined objectives, these are only statistics … NOT results!
Cause & Effect
Your work needs to make something happen to reach your objectives. Make your target feel something. Encourage them to interact with your brand and product. Motivate them to make a decision and get off their couch.
Less You … More Them
Yes, your communications needs to be about your brand and product. But more importantly, they should be about your audience. If you want to cause momentum and generate results, you need to speak to your target’s needs, wants, desires, and dreams … then tell them how your brand fits in. This philosophy fits from ad messaging to point-of-sale communication to staff training.
Scare the Hell Out of Them
In my ad agency days, we had a creative director who expected his team to, “Give ‘em one idea that will scare the hell out of them.”
Keep in mind, your audience will see more than 7,000 advertising messages today! What will make YOURS stand out?
If it doesn’t scare you a little bit, it’s likely a cookie-cutter, boring, non-impactful idea … clearly not results oriented.
Measure, Measure, Measure
To be successful, all Results Oriented Ideas need … well … results. Now is the time to see if you’ve impacted those objectives that you laid out earlier.
- Was there a sales lift over the months prior to the campaign? How about the same months of the previous year?
- Did your “clicks” turn into applications?
- What was the difference between increased applications and increased new accounts?
- Did growth come from existing customers or new? Which did you want?
- Would the community name you in the top three in an unaided awareness survey? Would it name you first? How does that compare against a pre-campaign baseline?