You are distributing promotional USB flash drives to generate new and repeat business, but how do you know for sure that they are really working out well for you? In fact, can you pinpoint just how successful they are?
Boost Your ROI: Target Your Campaigns
Yes! Itís a matter of determining the return-on-investment (ROI) of the nifty little promotional USB drives. ROI is one of the most important numbers when it comes to measuring the profitability of any business venture.
Letís have a closer look into this ROI and what you can do to optimize your direct marketing by effectively using your custom USB flash drives to achieve direct improvements on your ROI for sales and marketing...
Remember, ROI is total income minus total expenditures (this captures raw profit) divided by the total expenditures. That last step tells you clearly how many dollars you earn for every dollar you spend.
So, the precise formula is ROI = (INCOME Ė EXPENSE) / EXPENSE
A Quick Example:
Letís say you hand out 1,000 promotional USB flash drives in an effort to bring in new leads as well as sustaining already existing repeat business. You get $15,000 in total income from this marketing campaign, while you spend $5,000 on the promotional USB drives, other marketing expenses, and the costs of producing the product you actually sell.
In this example, youíre profit is $10,000 ($15,000 minus $5,000), and your ROI is 2: for every dollar spent, you have earned $2.
How to measure ROI when using promotional USB flash drives, step-by-step:
Itís that simple! Those promotional USB flash drives are surprisingly versatile and profitable tools, and itís an easy matter to prove it by the numbers.
- Track expenses. You probably track expenses already; just make sure you can track expenses for the specific marketing campaign using promotional USB drives. This step gives you the EXPENSE piece of the ROI equation.
- Track leads. While this wonít give you a number that goes into the ROI formula, it does let you to track how much interest the promotional USB flash drives generate. Itís also crucial for the next step. There are a few ways to handle this:
- Create a special web page, email address or phone number. For example, when you imprint your companyís logo on a device, also include a unique way of contacting you, something only people with the device will see.
- Use a PURL, or Personalized URL. Some marketing services generate unique web addresses for each customer, something like www.YourCompany.com/YourCustomer.html. With this approach, you can track results not just by the promotional USB drives, but per customer.
- Promo, discount or customer code. You can ask for the code when the customer contacts you, or you can ďbundleĒ a special discount with the promotional USB drives. Then, you can monitor use of the unique promo code.
- Track sales. The response rate from tracking leads isnít enough to determine ROI; you also need to note how many of those leads turn into sales and track the actual income from those sales. This step gives you the INCOME piece of the equation.
Additionally, the above methods can be mixed with software based tracking mechanisms via TCP/IP aka the internet to create highly effective systems to measure, monitor and analyze the effects of your marketing efforts by providing detailed key metrics.
You need to make sure that every cent you spend on marketing is highly targeted and is generating new business or helps you sustain your existing relationships with important key customers. You can multiply your earnings and ensure high yields by using advanced logging and tracking systems that render just the numbers you need to effectively bundle your marketing efforts to with laser-like precision and ultimately make a difference in todayís rapidly changing business environment.
For more information on how to boost your ROI by further optimizing your custom USB flash drive marketing campaign by using a set of well-established tools for maximizing your promotional USB flash advertisement and make your business more sustainable by drastically improving your customer retention rates and ROI you should contact us now.
Contact our Sales Team for more information on MemoTrekô Custom USB Flash Drives!