Managing ROI
Once you’ve calculated your ROI, you must learn how to manage it. Your goal should always be to increase ROI. If your business has undergone a period of significant change or hardship, you may wish to stabilize your ROI before you work to increase it.
When working to stabilize ROI, it’s important that you review historical data about your business. Evaluate those business measures and marketing campaigns that resulted in the highest return. If a Twitter campaign led to an overall business increase, consider launching a similar campaign. You can also use your ROI record to avoid repeatedly making the same investment mistakes.
Using ROI in a Changing Business Environment
Wise business leaders know that they must use ROI measures to improve business profits. Hispanic business leaders who understand the role of the Internet and social media marketing in improving ROI are particularly well-poised to succeed in business in the next decade.
As a business leader, you can make the most of your newfound ROI savvy by tracking how direct interactions with your consumers online are affecting your bottom line. Many Latino entrepreneurs are sinking money into expensive social networking ad campaigns that experts say are seeing a low overall ROI. As a Hispanic business owner, you must work closely with your Internet marketing firm to ensure that you are meeting ROI goals. Choose search engine optimization (SEO) practices and social media campaigns that have a proven track record of boosting ROI and encouraging the conversion from fan to consumer.