When the Beatles or Carole King or the BeeGees were signed up by a record company - their kpi was not a 10% ROI -
It was the number of songs published
Who knew what song would be a hit?
The term that managers and leaders should focus on is
A Return on Outcome
A term that my friend Iggy Pintado is suggesting one focuses on
How can you clearly articulate an outcome that would be beneficial to staff development and subsequently, morale - and culture?
Simply put, a return on outcome (ROO) is a qualifiable, subjective measure of an investment based on the outcome realised.
There is no quantifiable return to the donor for a charitable donation. Instinctively, the outcome achieved is in feeling good about making a contribution to a worthy cause and making the world a better place.
The return is in the outcome realised, not in an objective return on funds invested.
How can you quantify the return on investment of hosting a BBG forum for your key prospects and A Grade Clients on a regular basis?
You can see qualifiable returns in an improved relationship between a converted prospect and a satisfied client - and the sales teams that could lead to them purchasing the company’s products, services and experiences.
How can you quantify sending a staff member to a Nexttech Training Course Or funding prospective leaders into doing a BSI Diploma of Leadership and Development Course, or finding a BbG Membership - enabling him her too ok collaborate , learn and grow together ?
How do you value the shared learnings with colleagues, resulting in improved productivity and morale boost benefiting the development of staff members?
How do you want value the retention of your most important asset - your right people feeling cared and appreciated ?
How do you value the staff member being cared for and appreciated?
If you define specific ROOs
The ROI will probably be exponential !
When you do your planning and working our your kpi’s - focus on outcomes the ROO - and the ROI will follow
Inspired by article by Iggy Pintado and Dr Chris Baumann
Tags: marketing metrics, marketing leadership, marketing measurement
No comments:
Post a Comment