We know that marketing your business can seem overwhelming and daunting. With the lingo that is thrown around in business, it can be hard for you to keep up. One of the most common terms in business is ROI. But how does ROI help you build a successful small business full of passion and provision? And more importantly, where do you start with ROI today? Let’s start with the basics.
What is ROI?
ROI stands for return on investment. There are two different types of ROI: soft and hard. Hard ROI means that it can clearly be measured. Soft ROI means that it can’t clearly be measured. It is important to know what to measure and how to measure it. When you are monitoring your return on investment, you are figuring out if you are getting the biggest bang for your buck.
How Can It Help You?
In order to ensure that the time and money that you are investing into your business is well spent, you need to measure the return on investment. If you spend money in marketing, monitoring the ROI shows the success or failure of your efforts. Something to remember when you are measuring your ROI, you are never going to be 100% sure of you ROI before you spend the money.
Where Do You Start?
Monitoring your ROI requires a plan. I know you are probably feeling overwhelmed but don’t worry. It can seem difficult so start small. Measure the return on investment on one thing at a time. Start with emails. Not good at math? Use an ROI calculator that you can easily find online.
Measuring your return on investment is a great way to ensure that your business is at its best. At Half a Bubble Out we love using inbound marketing to increase business. Inbound marketing allows you to market and measure to show ROI. Yea, that’s right. There is a type of marketing that helps you measure your actions. HubSpot is a software company that helps leverage inbound marketing to measure and analyze your marketing. If you want a successful small business that knows how to measure its ROI, then start implementing inbound marketing into your strategy today! Need help?
Since 2002, Half a Bubble Out has been dedicated to providing marketing, advertising and small business consulting that meet the needs of our clients. We specialize in powerfully telling stories through inbound marketing to grow your business filled with more passion and provision. Based in Chico California, we serve clients throughout Northern California and across the country to New York.