Measuring results and proving ROI on marketing campaigns can be complex, but it doesn’t have to be. You just need to figure out how you can track and measure your campaign’s impact.
First things first, let’s refresh our brains. To calculate marketing ROI, or return on investment, you need to measure how your business is performing.
ROI measures the efficiency of an investment by comparing the return on the investment to the cost. By calculating ROI, you can determine whether your investment has had a positive impact or if it wasn’t really worth it.
In the basic formula used to calculate marketing ROI, the return of an investment is divided by the cost of the investment. Here’s the what the ROI formula looks like: The result is expressed as a ratio or percentage.
It’s important for your business to calculate ROI so that you know how to move forward in the future. ROI lets you see what investments have paid off, what investments could benefit you moving forward, and what investments you should avoid. Read more from edgylabs.com…
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