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HOW ROI CAN BE YOUR OWN “STIMULUS PACKAGE!”

ROI Measurement Creates Accountability and Cuts Your In-house “Pork!”

 There’s been a lot of debate over President Obama’s economic stimulus package over the past few weeks, as well as his efforts to curtail wasteful spending at the CEO level of major banks and corporations who are receiving major bailout packages.

What’s pretty clear is when the Dow Jones kept climbing and climbing, there was plenty of money to go around at financial institutions – and that, in turn, caused a lot of risky, wasteful behavior at the very top levels.  When the stock market started nose-diving, suddenly all those chickens came home to roost – leaving a lot of dead ducks along the way. 

Even more disturbing was the fact that when the big bailouts started getting handed out to the big companies, there seemed to be no accountability in terms of how the money was used.  When the car company CEO’s arrived in Washington DC in their private jets looking for taxpayer money, the public was outraged.  When other executives awarded themselves giant bonuses despite the fact their companies almost completely melted down, the outrage grew.

If you run your own business, maybe some outrage is overdue on your end about where your money is going.  Not to say you’ve been awarding yourself multi-million dollar bonuses or buying yourself a Gulfstream – but you may be bleeding money when you don’t need to be.  And that might be dragging down your bottom line at a time when you definitely can’t afford for that to happen.

That’s why taking a good hard look at your business’s Marketing ROI (Return On Investment) is more essential than ever.  When you have to carefully budget every dollar, you want to make sure that dollar is doing the job you want it to.    You may have increased your marketing expenditures – many business people do during a recession – but pumping in that extra money could just be a waste of resources if you’re not measuring your ROI.

Are you advertising in media venues that no longer work for your business?  Are you missing out on other placements that could create more lead generation?  More importantly, are generated leads that call as a result of your marketing being handled correctly?  Have your personnel been trained in how to handle sales calls effectively and efficiently?

If you don’t know the answers to the above questions, then ROI Measurement might be the most cost-effective tool you can use right now to give your business its own “stimulus package.”  Using ROI tools in the right way will increase sales, and that means more cash coming into your business.  Which beats waiting for Congress to pass a bill that makes sense.

I’m Richard Seppala, Your ROI Guy.  Visit me at http://yourroiguy.wpengine.com to find out more about how to stimulate your business’s economy – without government intervention! 

 

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