The new Full Circle Motivation ROI Calculator for the sales incentive market, is a unique tool in providing estimates of output in advance once the following information has been input: Present company turnover (as a benchmark), Number of participants, Target turnover increase. The new calculator will then provide five outputs including: the likely budget expenditure for the programme and a sample budget breakdown.
Full Circle Motivation has found that in a new survey of nearly 200 senior marketing managers, 77 percent responded that they found the “return on investment” metric very useful. Calculating this ROI is usually quite simple, post programme, with a return on investment formula as follows:
ROI = (Net profit ÷ Cost of investment) x 100
However, getting a handle, in advance, on how much money to invest or what the likely financial outcome would be, is a little more challenging. If an investment does not have a positive return, or if there are other opportunities with a higher return on investment, then the investment in a particular programme should not be undertaken.
Clearly in the sales incentive business, a formula needs to be found that can assist the busy executive in his / her search for decision making support prior to committing to a course of marketing action.
The key features
Now there is the Full Circle Motivation ROI Calculator for the sales incentive market, a unique tool in providing estimates of output in advance once the following information has been input: Present company turnover (as a benchmark), Number of participants, Target turnover increase.
The new unique Calculator will then provide the following information as guidance:
- Cost per participant
- New turnover figure
- Budget for the programme
- Turnover per participant after the programme
- Turnover benefit to the company per £ spent
Benefits for the busy executive
The Return On Investment Calculator: takes the guesswork out of budget allocation; highlights whether an investment in a particular programme should not be undertaken; helps in the decision-making process prior to committing to a course of marketing action; and most importantly:
- calculates the expected spend on the programme and presents an itemised cost spreadsheet.
As always there are caveats. The prospective incentive programme:
- should be for a period of 3 – 4 months (longer programmes will be segmented into 3 or 4 monthly periods for maximum interest, involvement and output)
- requires a heavyweight amount of communication
- measures and monitors peers across the business and within area / region
- includes an element of distance learning
- and finally, includes an element of reward because sometimes it isn’t just the thought that counts
How to check your Return
- Visit Full Circle’s website home page www.fullcirclemotivation.com and click the Measurement and ROI link.
- Complete the boxes with the following information: Present company turnover, Number of participants, Target turnover increase.
- The required information will be instantly displayed and upon providing contact details, a budget spreadsheet will be emailed directly.
In the current economic climate, many businesses are demanding more for less – an interesting proposition against which Full Circle Motivation is ideally placed to deliver. However, to make the journey from improved performance to consistent excellence requires a cogent understanding of how to approach ROI analysis and use it (and the many other Full Circle tools of excellence) to deliver productive change.