Predicting and Tracking ROI from Marketing Campaigns
Continue to Part II: Marketing Campaign Budget Calculators»
IntroductionOne of the easiest to use, cheapest, and most helpful tools that any business owner can use is a marketing calculator. In fact, many times, marketing calculators can be found for free online, and are available to determine and break down financial data for any segment or aspect of your business, such as return on investment (ROI), marketing results, breakeven points, lifetime value of a customer, website visitor value, hourly rates, profit calculators, and more. Marketing calculators can either be desktop tools or web-based ones, depending on your needs and desires.
Costs and Skills RequiredAnyone should be able to use a marketing calculator, as the majority of them are simple and straightforward. Many of these tools can be found online for free, but are also for sale for prices generally less than $100.
- Calculate acquisition costs of customers from promotional campaigns
- Calculate payback analysis
- Price estimates for goods and services
- Marketing and sales ratios, inventory turnover
- Earnings to time ratios calculations
Usage DetailsMarketing calculators are typically simple and easy to use. Generally they consist of worksheets for the different metrics that need to be calculated. The users will choose the applicable worksheet, say lifetime value of a customer, and then enter in the various data needed. The calculator then will come up with the result. Marketing calculators can also be used to test different marketing strategies. When used with AdWords or another advertising program, marketing calculators can tell you the ideal price to pay for keywords, and also can give levels and targets for ClickThrough rates, product costs, and other similar information that can allow new marketers as well as established ones, to plan, improve, or outline your website's financial status.
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