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Four Steps to Measuring Mobile ROI

Four Steps to Measuring Mobile ROI Step 1: Define your objectives What is the GOAL of the app? Every mobile campaign can be measured by one of two intended outcomes. Do you want to... User Sales & Aquisition Marketing Lead Aquisition Supply Chain Evaluate your Evaluate your CONSUMER WORKPLACE INTERACTION EFFICIENCY Mobile Influence Field Service Retention Rate Asset Management Step 2= Add up your DEVELOPMENT COSTS Integration Implementation 80 $$$ Hardware Support Step 3 Give each appa measurable KPI User Aquisition: Sales & Marketing: How much are you spending per new mobile • Is there less paperwork? • Less need for in-office support? • Have sales increased? • More upselling and cross selling? • Have lead conversions increased? • Has face time with customer customer? Imagine this: Mobile TCO is $10,000 with 2,000 users: Then user acquisition = $5 per user Why this matters: Now you can compare the costs of your mobile efforts directly against the efforts of other channels. increased? • Has the annual quote attainment improved? • Are your executives able to TCO - Users meet more customers? $ Per User Enterprises who measure mobile have seen up to a 30% gain in sales efficiency. Lead Aquisition: +30% How many of your leads are the direct result of your mobile campaign? Supply Chain: Imagine this: Of 50 new leads, 10 came from mobile: Then the lead acquisition rate = 20% · Better at identifying weak points in the supply chain? • Time to market decreased? • Reduction in inventories, holding costs, Why this matters: Now you can compare the costs of your leads from mobile against and material waste? • Increased efficiencies by integrating with other systems? • Increase in on-time deliveries? • Improved sales due to higher product availability? the cost of leads from other channels. Total Leads - Mobile Leads Aquisition Rate Enterprises who measure mobile have seen up to a 30% reduction in parts inventory. 30% Mobile Influence: Are your mobile apps influencing customers? Imagine this: Of 50 new leads, 5 customers used your app: Field Service: Then the mobile influence rate = 10% Why this matters: Now you know if your apps are actually impacting buyer behavior. • Reduced service response time? • Less travel and paperwork? • Less need for internal resources and support? • First-time fix rate improved? Total Leads ÷ App Users Influence Rate Enterprises who measure mobile have seen up to a 25% gain in service technician productivity. 1 Retention Rate: 25% Is your mobile campaign encouraging return customers? Asset Management: Imagine this: Of 500 customers retained, 100 downloaded the app. Then your retention rate = 20% Why this matters: Now you can determine the costs of retaining one customer through mobile. • Reduced maintenance costs? · Equipment uptime improved? Improved first-time fix rate? • Resources and inventory consolidation? Retained Customers Enterprises who measure mobile have seen up to a 40% increase in asset uptime. 40% ÷ Customers who Downloaded Apps Retention Rate Step 4: One last calculation Weigh your KPI MEASUREMENTS AGAINST COSTS 08 WORKPLACE DEVELOPMENT 80 COSTS CONSUMER INTERACTION EFFICIENCY Now that you have given each app a measurable KPI, try asking: • What is the overall value of the app? • How does this value rank against other marketing initiatives? • Does the value of the app outweigh the development costs? Assume your app has a lifespan of 5 years. You can then calculate its NPV (net present value): One time app development costs + Annual maintenance costs x time (5) Business benefits x time (5) Opportunity cost of capital - Opportunity cost of capital NPV (Benefits) NPV (Costs) NPV (Benefits) ÷ NPV (Costs) = ROI for your app Congratulations! By calculating the value and efficiencies of each app, you have taken the guesswork out of measuring mobile ROI. kony* > Learn more at

Four Steps to Measuring Mobile ROI

shared by Kony on Mar 20
Measure the success of your mobile initiative with these KPIs and best practices, including mobile influence, lead acquisition, customer retention, and more.




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