Return On Investment Vs. Return On Influence BY CHRISTOPHER TOMPKINS
Board Converting NEWS INTERNET DIRECTORY
In the marketing world, many businesses focus on ROI (return on Investment ). However, when they don’t get the
SAUER SYSTEM www.sauersystem.com
immediate monetary results they desire, they begin to pull away from social media marketing. But there is another side of
Sauer provides intelligent solutions for scoring, slitting, slit-scoring, and perforating on corrugators and floor slitters; and glue tab cutting, creasing, slotting, trimming and scrap chopping on presses. New, featured offerings include FRX Adjustable Folding Rail System and G3 Scoring System: the latest proven creasing technology on the market.
the coin: ROI 2.0 (return on In- fluence ). Many businesses have begun investing more time and money into individuals or organi- zations who can represent their brand and bring credibility and value to them. Have you considered this? Either way, both ROIs have a place in your marketing strategy - you just need to keep in mind that the value of each one will be unique for your business. Return On Investment If you’re spending money trying to promote a prod- uct or service, it’s essential to be fully aware of your ROI. There are a few things to consider first: 1. Know how to budget correctly: So many people think that spending thousands of dollars on advertising will re- sult in a huge win for their company. 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 smart and strategic with what you do have. You’ll want to know as much about your target audience as possible. Don’t waste your money showing your ad to everyone in the world, when you could be showing your ad to JUST your target audience. 2. Know your KPIs and marketing goals: Speaking of be- ing strategic, you must know your KPIs (key performance indicators). These are specific S.M.A.R.T. goals (Specific, Measurable, Attainable, Relevant, Time-bound) that you can keep track of as your campaign progresses Without these, you’re making business decisions that are based on feelings instead of figures. If you aren’t care- ful, you could be spending money on marketing efforts that end up in little to no results. 3. Know how to track your ROI using analytics: If you don’t already have traffic tracker set up on your website, what are you waiting for? This is one of the easiest ways to see your website traffic, where they came from, and what pages on your website had a greater increase in visitors than others. Most social media sites offer their own spe- cialized pixel so you can maximize your advertising spend with them, enabling you to only “pay” for when someone clicks through to your site. Return On Influence While your return on investment is very matter-of-fact and measurable, this is not always the case with return on influence. This is categorized by the social media engage- Christopher Tompkins
STAFFORD GROUP www.go2stafford.com
Interactive website for Stafford Corrugated Products and Stafford Cutting Dies. Featuring online ordering of replace- ment parts. Also, visitors can automatically calculate sheet size for most die-cut standards.
SUN AUTOMATION GROUP ® www.sunautomation.com
SUN Automation Group® is a global industry leader provid- ing corrugated box plants with innovative equipment for feeding, printing and converting. The wide range of prod- ucts are proven solutions for increasing production, effi- ciency, and profitability. With 24/7 on-site technical support, SUN Automation is known for its great service and care. THACKER INDUSTRIAL SERVICE COMPANY www.thackerindustrial.com Specializing in corrugated machinery, TISCO offers quali- ty-made products, support services, and more. TISCO has established a reputation of dependability, not only in the product, but in continued service support. With more than 25 years of experience, TISCO installs equipment and ma- chinery, moves or sets up entire plants, rewires and rebuilds - all over the world. TISCO maintains a full fleet of trucks and equipment to perform to your requirements, anywhere, anytime. VT GROUP www.vtgrouponl ine.com VT offers prepress services for the POP display and corru- gated shipping container industry including graphic design, optimized digitally imaged printing plates and innovative pre-mounting solutions. Our large-format digital printing fa- cility (Digital Impact) is a leading short-run manufacturer of distinctive POP displays and signage where litho-like graph- ics are preferred.
40
www.boardconvertingnews.com
September 28, 2020
Made with FlippingBook Learn more on our blog