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Your ROI: THE Most Important Number for Your Business

As you know, the bottom line success or failure of a business boils down to the numbers. Profit, revenue, labor cost, profit margin—each of these calculations (and others) are powerful indicators of the health of your business. But there is another number that is even more important to your business—your marketing ROI (Return On Investment). But unfortunately, because determining your ROI can be a complicated procedure (it doesn’t have to be, but more on that in a minute), many business owners never determine their ROI.

First of all, why is your marketing ROI so important? Simple: Knowing the ROI for each of your marketing investments tells exactly how successful each initiative is per dollar spent. And that enables you to stop spending money on campaigns that don’t produce results. It enables you to focus all of your marketing dollars on the initiatives that are the most profitable. Once you identify tactics with a strong positive ROI, you can invest money confidently—knowing that you’ll recoup your investment and more. In this economy, how many businesses aren’t looking for business? Knowing your marketing ROI allows you to pick up more business efficiently. And that, in turn, allows you improve all of your other financial numbers dramatically.

So what was your ROI in 2010? Do you know? Are you guessing? Are you “playing it by ear?” This is a common mistake, as many business owners think that it’s easy to determine their ROI just by paying attention. “I got ten leads through an email campaign and only four through a direct mail campaign,” the thinking goes, “so obviously the email campaign is a better investment.” But there is much more that needs to be taken into account. Perhaps your email campaign generated more leads and cost less—but what was the value of each lead? What if each of the leads generated by direct mail was converted into a valuable long term customer, while only 50% of the email leads were converted—and only into one time clients? As you can see, without an accurate ROI, you’re simply not able to properly measure the success of your marketing campaigns.

Fortunately, calculating your ROI doesn’t have to be a long and agonizing process anymore. That’s because I’ve developed an automated system to do the work for you. It’s called the ROI Matrix, and it utilizes unique call tracking numbers assigned to each form of advertising and marketing that you initiate. Analyzing the income from each lead generated allows you to accurately compare the results of each advertising and marketing campaign accurately. In addition, you’ll get a monthly conference call to discuss the results, live reports of your closing statistics, notification every time you missed a lead, a full monthly report of your conversion percentage compared to your industry’s benchmarks, and much more. There’s simply no reason to keep taking shots in the dark with your marketing initiatives. Don’t keep guessing at your ROI—let the ROI Matrix do the work for you.

 

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