One of the standout features of the Dieselmatic App is our built-in ROI calculator. But before we get to that, let's have a quick look at everything you need to know about ROI and what it means for you and your business.
You can check out this video, too.
Understanding Return on Investment (ROI)
Return on investment (ROI) is a way to evaluate the efficiency and profitability of your business. In simple terms, it calculates the total revenue generated from the marketing efforts divided by the total money you spent on marketing (this includes the Dieselmatic Fee, ad campaigns, Google ads, Google Business Profile ads, social media ads, etc.)
Why This Tool Was Built
As a small business owner, one of the biggest challenges is identifying the exact revenue you are making via your marketing campaigns. It is a complex process that involves many moving parts and tracking traffic from different marketing touchpoints. This is difficult and only gets more so when trying to track the invoices associated with them, understand the revenue source, and where it should be attributed.
How We Were Able to Do It?
Dieselmatic's partnership with Fullbay has given us the ability to access invoices and important marketing metrics in real time. This includes site visitations from the Google Business Profile (GBP) and the ability to attribute them correctly. It can even determine whether a generated lead had already been a customer before launching this campaign and won't attribute that revenue.
For more information on how our attribution works, check out this article.
ROI's Impact on Your Business
Understanding ROI is essential to the sustainability and growth of your business. It helps you to strategically plan your next steps and identify and maximize high-return activities. ROI also allows you to optimize spending, enhance your overall financial health, and predict future returns, paving the way for long-term success and stability.