ROO
Many in the industry confuse and interchangeably use return on investment (ROI) and return on objectives (ROO).
ROI is a quantification of the financial return on our exhibiting investment compared to sales that are generated from a project.
ROO is an analysis of the return that is generated from objectives which are not directly linked to sales, such as meetings, conferences, trainings, videos, web sites, road shows, social events, live presentations….
For years, sales departments have measured return on investment by tallying Euros received against Euros spent. The influence of marketing communication, however, doesn't necessarily translate euro-for-euro into a company's revenue.
Without diminishing the importance of ROI, Co-mana believes that instead of calculating success based only on revenues, we can measure returns based on whether their objectives, from brand awareness to customer relationship-building, are met. Completion of these objectives, rather than Euros earned, ultimately determines the success of a given project.
This is why Co-mana, together with its clients, will soon estabilish objectives before each project in order to be able to develop a full ROO analysis for future collaborations.