Thursday, 24 February 2011

ROI - How do you achieve it?

The following blog is brought to you by BrightBlue Marketing team member: Candace Lopez Miller

What is the Return on Investment (ROI)? You should be asking this question if you are not!

Read on for ROI critical factors to keep in mind with your marketing efforts…

Obviously, the bigger the budget you have for “implementing” your marketing strategy, the quicker the speed of arrival at your set goals. In addition to budget, there are a few critical factors that will affect your ROI and speed of achieving your ROI.

Achieving ROI Critical Factors:

  1. Appropriate Resources:

    • People resources with proven expertise in their specific job role

    • Budget – Large budget vs. bootstrapping/home grown –the larger the budget, the faster you will achieve your ROI

  2. Value proposition – Unique and compelling

  3. Your pricing level –

    • Must be perceived as an ROI by your customers and potential customers. Be sure to always remember that all of your customers are looking at your pricing with THEIR ROI in mind.

    • The target market and your pricing must be aligned so it’s reasonably affordable to the target market

  4. Execution capabilities –

    • Sales – Capable of appropriate follow up and reasonable closing ratio;

    • Budget – Available funds to implement marketing activities such as buying lists, printing costs, sponsorships, compensate staff, etc. ;

    • Operational Processes – Legal contracts and/or terms of agreement have been developed, delivery systems built to efficiently process new clients, ability to smoothly deploy solutions and measure results (ROI).

Setting Your Expectations:
Your proposed plan of attack should involve a set of proven techniques integrated with new and creative ideas for going after new or existing markets. It is imperative to be innovative and out-of-the-box so as to stand out from your competitors. With innovation based on proven techniques, you can be confident in obtaining positive results.

BrightBlue Marketing can help you realize your desired ROI and beyond, but we also realize that success will require a clear road map, realistic expectations and goal appropriate resources.

-Candace Lopez Miller

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