Business Tips By Christopher Tompkins
The Two Types of ROI:
Return on Investment
vs.
Return on Influence In
the
marketing
world,
many
Return on Investment:
businesses focus on ROI (return on Investment). However, when they don’t get the immediate monetary
If you’re spending money trying to promote a product or service, it’s
results they desire, they begin
essential to be fully aware of your ROI. There are a few things to consider
to pull away from social media
first:
marketing.
1. Know how to budget correctly. But there is another side of the coin: ROI 2.0 (return on Influence). Many
So many people think that spending thousands of dollars on advertising
businesses have begun investing more time and money into individuals
will result in a huge win for their company.
or organizations who can represent their brand and bring credibility and value to them. Have you considered this?
Yes, more money can result in a greater ROI, but, what if you don’t have thousands to spend in order to acquire new customers? You need to be
Either way, both ROIs have a place in your marketing strategy - you just
smart and strategic with what you do have. You’ll want to know as much
need to keep in mind that the value of each one will be unique for your
about your target audience as possible. Don’t waste your money showing
business.
your ad to everyone in the world, when you could be showing your ad to JUST your target audience.
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OTC Beauty Magazine September 2020
