In a previous world, the concept of return on investment (ROI) was the gold standard used to measure success. Was your money well spent? Did you gain an advantage based on what you did? Should you keep investing in the same manner to continue to grow?
The world of marketing and communicating with customers has evolved. It is no longer enough to just investment spend and measure the results. The time horizon has been extended and the type of engagement has become deeper as well. You no longer measure success based on one transaction.
Purchasing a product or service online or in a store based on an ad is just a start. There is so much more!
As we begin a new decade, you now want to connect with someone emotionally not just with their money.
The goal is to have your brands loved. Create an emotional engagement. Make people feel good about dealing with you.
If you do, the results will include customers telling others about their experiences with you. Recommending people do business with you. Becoming loyal to what you do. Following your advice. Spending more money and trying your new products or services immediately when they come out.
There are lots of vehicles customers can use to tell people about you. From Instagram to Pinterest to Spotify to Facebook to LinkedIn, there are ways to reach almost every type of audience.
Now it is up to you to form a bond with your target audience. Get their heart involved in who you are, what you do, and why you do it.
That approach is the best way to grow your ROE!
