Return on Investment (ROI) ratio (usually expressed as a percentage) used for comparing different investment prospects. Higher ROI indicates a better investment. Since marketing is also a form of investment, the same concept can be applied to gauge the effectiveness of various dental marketing campaigns. The basic formula for Return on Marketing Investment (ROMI) is given below:
ROMI: Return on marketing investment
GP: Gross profit resulting from the marketing campaign. (Gross Profit = Production – Overheads)
MCC: Total marketing campaign cost
Just input the required values in the form below to determine the ROI of your dental marketing campaign. Higher ROI means the marketing campaign was more effective.