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Are your ROI metrics on the fast track to success or stuck in traffic on scrutiny road? As you may know, ROI is all about showing your customer the value your product brings, and should be anchored on business outcomes that they care
about. It’s your responsibility to effectively show the customer how far they’ve come and can go by sharing a data-driven narrative that is thorough, yet easy to understand.
So, how do your ROI metrics stack up, and where can it be improved? Let’s find out by taking this quiz:
Take note of your score at the end, read your results and feedback below.
14 points or more = A
Congratulations — your ROI is not only compelling but can withstand any scrutiny! Tying ROI to revenue makes it easier for your customer to sell it internally. Making sure that your champion was heavily involved in its development makes it easier for you to present it to other stakeholders.
11 to 13 points = B
Your ROI is somewhat compelling but there might be a few holes in its defensibility. The more you can involve your champion in its development, the better you’ll be able to withstand scrutiny from other stakeholders. All of which means it’ll be easier for them to say yes at renewal.
6 to 11 points = C
While your ROI may be somewhat compelling, there’s opportunity to more effectively communicate & defend it. Try tying your ROI to revenue, and check out our templates to better showcase it. Involve stakeholders more in its development to make it more defensible.
5 points or less = D
You’re not alone — coming up with a compelling & defensible ROI story is not easy. Check out the rest of this kit for a detailed how-to on developing an ROI, communicating it effectively, and making sure you can defend it with other stakeholders.
These results should provide further insights into your ROI, and help you make the necessary adjustments to guarantee that you're delivering the highest value to your stakeholders. Always keep in mind the importance of effective communication, aligning your ROI with revenue, and involving your champion in the development process. By following this approach, you'll be better equipped to withstand scrutiny, and internal stakeholders will have a clearer view of its significance and value.