What is a return on investment (ROI) study?
A return on investment (ROI) study is the longest document that a brand will make based off the customer’s journey. It is a piece of content that describes clear customer results and metrics. You need this type of asset especially in the final stages of a sales, when the emotional brain has already decided to buy but needs some numbers to justify that decision to colleagues and management.
The ROI study can be about one customer or more, but it must contain metrics that compare investment gains directly with investment costs. It can address key challenges in a vertical and exemplify with numbers how those challenges are addressed. We recommend keeping these assets as visual as possible. Include graphics and comparisons
Examples of hard business data you could capture in a ROI study:
- COSTS: operating costs, education costs, production costs, participation costs, cost per employee
- TIME: length of production cycle, processing time, equipment downtime, overtime, response time
- QUALITY: failure rates, waste, rejects, error rates, rework required, product defects
Examples of soft metrics you could capture in a ROI study:
- LEADERSHIP: teamwork, collaboration, networking, communication, partnerships
- INNOVATION: creativity, suggestions, trademarks, patents
- REPUTATION: impressions, clicks, likes, comments, awards
- CLIENT SERVICE: complaints, satisfaction rates, retention rates, lifetime client value, attrition
Related Knowledge-Base Articles:
In the 21st century, growth means setting yourself apart, where countless others are jostling for elbow space – this is true whether you are an individual professional, a startup looking for funding, or a well-loved consumer brand in the market. This is where customer advocacy can help your brand.
Sometimes your customer advocate is willing to give your brand a shout-out on their social media or some other public platform, but maybe they don’t really know what to say. Maybe they need a little help with the hashtags you use or with finding the exact wording that will communicate your brand story authentically.
Customer Advocacy Marketing, also known as customer references marketing or customer evidence marketing, is a marketing discipline that leverages your customers’ inclination to say good things about your products and services and uses it to empower you sales, marketing and product development.