ROI is a Great Tool – But Only in Specific Uses
Return on investment, or ROI, has proven to be an excellent gauge of marketing effectiveness when it comes to lead tracking and generation. This is a quantifiable process and lends itself easily to measurement. There is a long and proven track record of companies using lead tracking to determine ROI. It dates back three decades.
But what about other marketing processes? Here’s a general rule: if you can’t explain the process in one or two concise paragraphs, it’s probably too complex to easily measure. It may not be impossible to measure, but you have to come to terms with the fact that even instituting a formal measurement process may not provide an effective return on investment.