Marketing return on investment is more important than ever, as companies scrutinize spending and look for ways to stretch every marketing dollar as far as possible. In reality, it just makes good business sense to be vigilant about marketing ROI. The days of drunken advertising spending in the name of ”branding value” are all but gone for most, so squeezing every bit of profit from our investments is now a business imperative. For small businesses, it can be the difference between survival and bankruptcy.
Given how fundamental achieving ROI is for a business, proper planning must be taken seriously. Larger enterprises have teams of people responsible for this planning – so what’s a small to medium business supposed to do? I found myself doing these calculations manually and in my head once too often, and decided to just develop a good planning spreadsheet that would save me time.
You can download the marketing ROI calculator and use it for planning your marketing and business (it’s free).
For most uses, it only takes a few minutes to plug in your particular revenue and financial information, then the spreadsheet calculates everything else for you. You can customize assumptions, such as landing page conversion rates, sales page conversion rates, advertising costs (CPM and CPC), etc.
Since it’ an Excel spreadsheet (without fancy macros), anyone familiar with Excel should be able to tailor it for a particular business need, should it require further customization.
This video is the first in a 5 part, free video mini-course that comes with the planning spreadsheet, aimed at assisting online businesses and marketers plan and achieve financial goals.
It would be great to get feedback on the spreadsheet and any improvements you may see fit to make to it.
Best of luck in your planning. It’s amazing how much it helps to truly understand how much traffic and advertising is required to achieve one’s financial objectives. This planning tools will definitely put things into the proper perspective and show you what it’s going to take to reach your financial goals with most any online business.
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Thanks for posting this. Very nice spreadsheet. This is going to save me a lot of time.
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