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Forefront eNewsletter

Q1 2017 EDITION

Three Common Responses to an ROI Calculation:
"Argh!" "Oh?" "Aye!"

Attempting to work out the return on investment (ROI) from your marketing efforts tends to result in one of the following outbursts:

  • ARGH! (It’s costing me more money and time than it’s saving)
  • OH? (I can’t figure out what kind of return I’m getting)
  • AYE! (I can tangibly measure its impact on my business, and it’s positive)

When it comes to calculating the effectiveness of marketing in the realm of professional services, the latter of these (AYE!) is always the ideal scenario, one where a clear-cut calculation can provide a measurable answer to your ROI enquiry, and that answer is of a positive nature.

At the other end of the spectrum (ARGH!), the ROI is, again, measurable, but the result is negative. Despite this seemingly adverse outcome, the fact that you have hard evidence that your method isn’t working allows you to change tack and improve, using the calculation as a learning experience for next time.

What is likely a more familiar situation to many companies is: “OH?” In this instance, you have no actual way of knowing whether your endeavors are doing the department, or the company, any good.

With marketing automation technology at your disposal, the days of “OH?” are numbered.

Successful marketing teams within professional services use marketing automation software to add value to client work, increase a company’s relevance in its particular field, and support fee earners in building and maintaining relationships with both clients and prospects, creating loyalty and demand.

It does all this in ways that are consistently and effectively measurable, and its ROI can be calculated using the two things that every business needs more of: time and money.

A Golden Age for Automation

We are fortunate enough to ply our trades in an era at the beginning of a golden age for automation. An age where the completion of certain tasks, which previously would have drained both of those most precious of resources, can be automated with consummate speed and accuracy.

Let’s explore some of the benefits of automation and how simple it can be to gauge their effectiveness when implemented into your marketing operations:

  • Email automation. One of the most powerful tools available to B2B marketers, allowing you to create and manage the full range of your e-based communications campaigns quickly and easily. ROI: An increase in volume of emails sent and huge time savings thanks to features like scheduled sending and templates. Plus, instantly see the metrics after delivery to find out which headline worked better, which link received the most clicks, or whether your decision to post a meme within your e-newsletter paid off.
  • Event management automation. Streamline, reduce costs, and improve the client experience across all of your events using an event registration tool that removes the time-consuming manual process of registering attendees onsite. A feature such as the ability to automatically trigger an email notification when a client arrives is a big win for fee earners. ROI: Automating the registration process produces an easy time-saving ROI.
  • Asset management. With an integrated image library for storing all of your marketing assets, you can control permission management, manage image subscriptions from photographic libraries, ensure compliance with different media formats, and share images with individuals who might not have access to the system. ROI: Save money and time by building your own image library that you can access in seconds and reduce time spent searching expensive image stock image websites.

These benefits and savings are just the tip of the automation iceberg. Beneath the surface lies a burgeoning array of integrated tools, resources, and modules ready to connect with your CRM and exponentially improve the professional lives of your marketing department and your fee earners.

Our advice: Integrate marketing automation technology to your marketing mix and go from Oh? to Argh! to Aye!

Good luck.
 

vuture

Vuture is the leading marketing platform for professional service firms. Clients include 40% of all large law firms globally, 3 of the big 4 accountants and 50% of the top 10 global real estate firms. Click here for more information.

 
 
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