Nov 19 2009
How to assess Return on Investment
The Holy Grail of how to accurately assess your Return on Investment for any marketing activities you choose to undertake has always been the sticking point for many marketers trying to justify spending their marketing budget. It’s been a rather hit and miss affair to date, particularly with the marketing waters being constantly muddied by new technologies and the different parameters they bring for measuring marketing effectiveness. Whilst the only real truth to date has been that it is crucial to carry out some measure of ROI, just how to do it has been hotly debated.
The Chartered Institute of Marketing has now produced a paper on measuring ROI, which we believe is well worth a look.The report looks at how marketing creates money and how to maximise your return on ideas, whilst achieving superior results from Finance and Marketing. The CIM has talked to over 100 organisations about what works for them and what doesn’t. They have then produced a framework to be used by any size of company to create a greater sustainable value. For those of you who are CIM members, you can find the paper in the Resource section of the CIM website.