There are plenty of metrics available for calculating and evaluating marketing activities and efforts. As the AutoROICalc is usable for any business model, it can be utilized in the segment of marketing to calculate and report the desired metrics effectively. Version 1.6.1 brings a package that allows for example calculating ROI, ROAS, ROMI, and Cost per Conversion, based on the data of the AutoROICalc user.
Data Enrichment
An updated “Create a New Report” (or “Edit a Report”) section glances with a new user interface and a new Data Enrichment subsection. It is now possible to enrich your report data outputs by picking an operation (ROI, ROAS, ROMI, Cost per Conversion, etc.) to perform between two selected report items. These data enrichment items are simply added to the report chart and data table. You can try and enjoy it from now!
ROI
Return on Investment (ROI) is a performance measure that is widely used to evaluate how well an investment is performing. With a correct AutoROICalc setup, you can for example see, how your Return on Investment performs in real-time!
ROAS
Return on Ad Spend (ROAS) is a marketing metric measuring the amount of revenue earned for the money spent on the advertising. ROAS measures the ROI of money invested into digital advertising. No matter if you choose ROI or ROAS. Some say that ROI is a global metric that measures the overall profit of an organization after all expenses. With AutoROICalc, that may not be true. We have different sources here, thus it is possible to calculate and compare the ROI among all the different sources.
ROMI
ROMI stands for Return on Marketing Investment which simply indicates the profitability or waste of a concrete sum of invested money. If ROMI is less that 100%, then marketing investments were wasteful. Another measure derived from ROI 🙂
Cost per Conversion
An example of another valuable metric. Cost per Conversion, or CPC, is a well-known term used in Web analytics and online advertising to refer to the total cost paid for an advertisement in relation to the success in achieving the goal of that advertisement.
Conclusion
What are the metrics you effectively use? Are there any favorites? In the Basic Concepts of the AutoROICalc, we ask, “What is the purpose of business?”. Yes, the profit in various ways. That´s why we prefer the ROI 🙂 It simply indicates if some activity is successful or not. Getting the ROI from various sources might be a nightmare. But AutoROICalc makes your life easier 😉 No matter the metrics you use and prefer, we are always open to implementing the desired metrics in our “Data Enrichment” section for you, just let us know!
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