Many businesses are looking at their marketing Return On Investment (ROI) as a key area of focus when considering cost cutting, cost savings and cost justification.
Whether justifying to management or shareholders – I tend to blur the line of accountability between the two – in tough times every line item in a marketing budget tends to get scrutinized for efficiency, economy and priority.
ROI (Return On Investment) is a great metric – and buzzword – for bean counters. For project managers and marketers like myself a much better, and more fitting, interpretation would be Return On Implementation.
This is based on my “un-patented but all mine” success equation:
effort + smarts + implementation + follow-up = success
The term “investment” makes me think of one-off effort, the term “implementation” references a definitive and deliberate process to distinct and measurable goals.
What’s your ROI?