What is ROI?
ROI - an acronym that we have become overly familiar with. We can still remember the first time that we heard it - it was roughly two years ago when we were having a meeting on where we wanted to direct our marketing efforts.
Over and over again we heard, "ROI, ROI, ROI," yet didn't even know what it was. Return. On. Investment.
At that point we knew it wasn't something on our radar, it wasn't something that we were tracking, nor anything that we had ever considered. Quickly, we learned that those three letters meant A LOT!
Instantly there weren't changes in our decision making, but it was something that we became more aware of.
Where is this journey down memory lane taking us? Well, it's brought us here, slightly past our Bridal Show weekend. We participated in two Bridal Shows in February, on two different levels. Both of these events we had to research, investigate and ask questions to ensure there would be a ROI. Two events that targeted the same audience and essentially served the same purpose, received different levels of participation from us.
We were setup as vendors at both events, however, one of the Shows received more from us. Not only were we a vendor, but we were a Sponsor. We brought the #PhotoBoothFun out and we were able to display another "side" of our business.
What We've Learned
We've learned (through experience) that more can be done then meets the eye. Yes, that's not how the saying goes, but it works for this purpose. We used to see what was on paper and let that make or break our decision, but we've learned about the power of asking. Crazy, huh?
"Ask and you shall receive." Well, maybe not all the time, but we've learned that it doesn't hurt to ask. We've gained more from asking then just sitting idly by and accepting what's presented to us - it's definitely helped with that 3 letter acronym - ROI!
Is ROI important to your business? Is this a new term to you? Don't let it be a term that you forget - eat it, sleep it, breathe it - okay, maybe not to that extent, but just remember R.O.I.