ROI in Analytics
updated about 1 year ago
What we are doing is measuring all the ways that people have found your booklet and what they did once they interacted with features on your booklet, then comparing it to how much your booklet costs to be delivered on the Simplebooklet platform. This way, you can get a sense of what it would have cost you to distribute and get engaged with your audience if you had to spend money on other channels to get the same results.
At the top of your Analytics page, you will see a lifetime ROI value for your Simplebooklet.
How we calculate the Reach and Engagement Values
You will see that your return on investment is based on how much value you received from your Simplebooklet based on the number of people who opened it and engaged with your content. that engagement value is based on 6 criteria:
Reach (Opens) This value is based on the number of people that opened your booklet online and started to flip through the pages. This is calculated on the number of opens multiplied by what it would have cost to print and distribute this booklet as a print brochure and get it into the hands of your audience. This is based on 30 cents an open.
Search This value is based on the number of people who clicked on your Simplebooklet after discovering it in a search engine organically. The value is calculated on the number of click thrus multiplied by what you would have paid on adwords to appear and get a CPC in a search result. This is based on the average CPC rate in the US of $1.5 https://www.wordstream.com/blog/ws/2015/05/21/how-much-does-adwords-cost
Social Media This value is based on the number of people who clicked on your Simplebooklet after discovering it on a social media feed. the value is calculated on the number of click thrus multiplied by what you would have paid to promote a post on that social network. https://www.webfx.com/social-media/how-much-does-pinterest-advertising-cost.html
Call To Action This value is based on the number of actions that readers took to engage with your business. For example, if a customer tapped the phone button or link on your page, that is counted as a call to action. Each type of call to action has an assigned dollar value ($1.29) and is multiplied by the number of that type of action taken.
Lead Gate and Email Forms This value is based on completed lead gates and completed forms. Any completed lead gate has a value of $3.68 and any completed email forms has a value of $9.12. These are totalled and included in your achieved value for your Simplebooklet (values based on the database marketing institute https://www.dbmarketing.com/articles/Art211.htm )
Installs This value is based on the number of people who have installed your Simplebooklet as an offline native app on their device (phone, tablet, or computer). The value is calculated on the number of installs multiplied by the industry average Cost Per Install ($2.24) https://www.chartboost.com/resources/
All of these values are added together to give you a total value to your business that this Simplebooklet has been able to produce. For example, in the above example, this booklet achieved $1715 in engagement value when you add up all the ways it reached and engaged with customers.
This is the first half of your Return On Investment equation.
The Cost of Your Brochure
To calculate this value, we do the following:
We take what you pay for your subscription (monthly average) and divide it by the number of booklets you currently have published. This gives us a dollar cost per booklet in your account on a monthly basis. We then multiply that cost by the number of months you have published the current booklet to your audience.
For example, if you have a PRO annual plan for $120 and you have 3 booklets in that account, That means over a one month period, those booklets cost you $3 each to publish on Simplebooklet. Then we multiply that $3 by the number of months you've had your brochure online. So a booklet that has been available for 5 months online cost you a total of $15 dollars.
The ROI Equation
To calculate your ROI value, we take the Reach and Engagement dollar value and divide it by the dollar cost of having your brochure on Simplebooklet. This will give you a multiple on your return on investment. You spent $X and received a multiple of XXX on that spend.
In the example above, you can see that the booklet generated 28.5 X return on investment. So for the $60 spent to host and distribute it on Simplebooklet, it generated $1715 worth of customer reach and engagement.
The ROI value will become more positive the more opens and engagement you get. the ROI value will shrink the longer the booklet is on Simplebooklet without getting any new opens or engagement.
We always recommend when you have a low ROI value on your booklet, that you should use the PUBLISH tools to extend the reach of your booklet to encourage opens. Posting in social feeds, sending it in emails, and even attaching it as a signature in your email messages are highly effective ways to improve your ROI.