The economic downturn over the last year has forced many b2b companies to take a closer look at their marketing spend, to see where they are getting their best Return-On-Marketing-Investment (ROMI). Better ROMI is one of the many reasons that more and more b2b marketers are turning to Inbound Marketing and Marketing Automation.
My last post focused specifically on website ROI, and how relatively easy it can be to calculate your marketing ROI for your website and internet marketing campaigns. In that post, we also offered our own Gossamar ROMI Calculator as a great tool to estimate the ROI of deploying Inbound Marketing and Marketing Automation on your website.
In this post, we’ll go beyond website ROI, and look into ROMI for all your marketing campaigns, both online and offline. And to help you determine your ROMI, we’ll offer you our list of the Top 10 free ROMI calculators found on the web.
Before we dive in, a reminder that the next post will cover how you can build your own specialized ROMI calculator, should none in our Top 10 list meet your requirements.
The Top 10 free ROMI Calculators and tools on the Web.
- Yahoo’s PPC ROI Calculator. Application: Simple PPC (Pay-per-click campaigns) calculator, but limited to B2C businesses. May not apply to B2B because the Lifetime Value of a Customer (LTVC) usually far exceeds the profit of the initial sale. Format: Web application.
- 280 Group’s Adwords ROI Calculator. Application: Same limitations as Yahoo’s PPC ROI calculator, but this calculator is a little more detailed, showing a matrix of results for different CPC (Cost-per-click) rates. Format: Downloadable Excel Spreadsheet.
- Marketing Today’s Direct-Mail / E-mail Marketing Campaign Marketing ROI Calculator. Application: Direct Marketing campaigns. Again primarily for B2C businesses. Format: Web application.
- Mac McIntosh’s Sales Lead Calculator. Application: A kind of “reverse” ROMI calculator to determine the marketing budget required to achieve a set revenue goal through sales lead generation. The data from this spreadsheet can be used to estimate ROMI. Format: Downloadable Excel Spreadsheet.
- Cymbic’s ROMI Calculator. Application: Calculate the ROI of both client retention and client acquisition through analysis of growth plans, customer turnover, and conversion rates. Offers some analysis of results and benchmarking to industry norms. Format: Web application.
- Gossamar’s ROMI Calculator for Inbound Marketing Automation. Application: To estimate the ROMI for B2B websites equipped with sales and marketing automation. Includes interactive features to play “what-if” scenarios, and “best-practice” conversion guidelines. Format: Web application.
- Lenskold Group’s Basic ROI Spreadsheet Tool. Application: In-depth ROI calculation for both B2B and B2C. Jim Lenskold wrote the book on Marketing ROI. Next to getting an MBA, this is the best ROMI tool to look at all the variables for a very accurate ROI calculation, complete with net present values of future expenses and revenues. Format: Downloadable Excel Spreadsheet.
- Lenskold Group’s Lead Generation ROI Scenario Analyzer. Application: Another Lenskold highly interactive ROI planning tool that demonstrates the relationship between marketing and sales effectiveness (and costs) to manage profitable lead generation. Format: Web application.
- Dragon Search’s Social Networking Media ROI calculator. Application: Focused primarily on larger B2C companies, this calculator tries to calculate Social Media ROI by assigning values to benefits like clicks, word of mouth, PR, and market research. Format: Web application.
- Frogloop’s Social Media ROI Calculator. Application: Intended for non-profit organizations with fundraising objectives, this is another Social Media ROI calculator that boldly tries to quantify the benefits of social media marketing. Again, not for B2B applications, but highlights the thought process of justifying any social media marketing investment. Format: Web application.
That’s it. A good list of free calculators for just about any marketing campaign – from the very simple (Yahoo’s), to the more sophisticated (Lenskold’s).
If you’ve found a great ROMI calculator that should be added to the above list, just let us know by commenting on this post or by email to email@example.com .
Until next time – Axel
- The Shift from Art to Science in B2B Marketing
- Website ROMI – How to calculate your online ROI
- Building your own ROMI calculator