Posts

Measuring What Matters: Achieving Client & Career Success

Share On Purpose not only launches and develops brands, but also trains employees to work in, and eventually run these companies.

Within Share On Purpose’s innovative suite of businesses, there are two Authentic Demand GenerationTMcompanies; Promote On Purpose and IGNITE On Purpose. As the largest businesses in the portfolio, they often serve as the first step in employees’ career journeys.

These businesses separate themselves from traditional marketing firms by implementing two science-based tools:

ROI has always been at the foundation of what we do. In fact, both businesses guarantee it.

Getting to ROI

For most companies, sales and marketing expenses represent the largest non-product/service related overhead costs, yet executives rarely understand how to measure the value of these costs, other than by asking “did revenue increase?”

By the time it’s clear whether or not a marketing/sales expense actually generated revenue, it is unfortunately too late, because the cost was already incurred. In most companies, this lack of quantifiable and predictable results (ROI) occurs quarter after quarter and year after year.

At Promote and IGNITE, ROI isn’t something we “hope” to get. It’s something that is planned, measured and guaranteed.

Since we are committed to ROI, consistently reviewing metrics, assessing data, and making adjustments is essential to stay on track. What is not productive however, is spinning wheels and investigating data that won’t serve the ultimate goal – an ROI for clients.

Here are the top three metrics to measure in order to determine if marketing activities are generating results.

No. 1: Revenue Multiple (the best indication of ROI) 

The first and most important metric to track is the revenue multiple, or revenue-based ROI. Dollars earned should equate to a multiple of the dollars spent.

The rule of thumb here is that a new program should generate greater than 2X (two times) the revenue of the cost of the program and do so fairly quickly. So, if your new lead generation program costs $15,000, in its first 90 days it should generate $30,000 in quantifiable revenue, period, end of story.

Over time, the program should increase its multiple to a greater than 5X revenue increase for every dollar spent on the sales or marketing program.

For B2B companies with a longer sales cycle, this metric is more difficult to measure, so it would be wise to use what is known as “Pipeline ROI.”

No. 2: Net Profit Ratio

For smaller businesses, using a net profit ratio is critical, as not all demand generation initiatives result in profitable revenue. Growth-funded growth techniques measure the actual profit generated from the sales and marketing program (as well as the revenue generated) to ensure the company is investing in sales and marketing proportionate to profit generation.

Taking a growth-funded growth mindset is critical for smaller brands, like the IGNITE clients, who want to grow quickly, but responsibly. Once the ratio is established, only a portion of the net profit is reinvested into new sales and marketing programs. This metric ensures profitable growth, rather than growth for growth’s sake.

No. 3: Cost of Acquisition

This metric should be customized for each sales and marketing activity and tracked intensely, as it is the best predictor of efficient demand generation strategies long-term. There are three metrics to measure for increasing efficiency of demand generation:

  • Cost Per Lead
  • Cost Per Opportunity
  • Cost Per Sale

Yes, Revenue-based ROI Is Trackable and Doable

It doesn’t take a rocket scientist to quantify the ROI from sales and marketing programs, but it DOES take a scientific approach to measure, track and deliver revenue-based ROI to ensure profitability. We are always looking to expand our team with driven professionals who aren’t scared by our ROI guarantee but embrace it.

Are you ready to measure what matters to clients so you can help them achieve success, and quickly grow your career? Check out our available positions and find the right fit for you!

So You Want to Grow Faster?

If you like to advance your career quickly, the rest of the world can seem to almost stand still. It can be extremely frustrating to put your all into a job, only to find out you have to wait for an annual review in order to move forward.

Do you feel stuck or underappreciated? You know you’re ready for the next level, so why does it take so long?

Tired of Waiting on Someone Else?

Share On Purpose dumped the entire annual review process and opted for the ingenious Career Matrix (developed by Talent On Purpose), which lays out the specific skills each associate has to master in order to get promoted. It also outlines clear salary ranges for achievements at each level.

Patience Carter, a team member of the Share brand, Promote On Purpose, has been working her way through the Career Matrix.

“I’ve been with Share On Purpose since August of 2016, and in 8 months I’ve received 3 promotions. My salary increased by 53%. I decide how fast I want to grow, and our management team develops my skills through experience, opportunities and mentoring. My goal is to be at the Director level by Q4 of 2017.” – Patience Carter

Make It Happen!

You know you’re worth more, so why wait for others to appreciate you? It’s time to use your drive to find professional and financial success. Be ready to articulate why you’re ready to advance your career and in which direction.

  1. What’s your strength? Are you analytical, have natural leadership ability, can drive to great results? Do you love to win? These are all attributes that should be moving you forward quickly along your career path.
  2. Where is your passion? Do you enjoy an entrepreneurial environment? Do you love building teams, departments, or even companies? Embrace these traits!
  3. What do you really, really want? This seems like a silly question. Of course, you know what you want, right? Being ambitious, we tend to want what will move us forward more quickly, which may not be what we really want. It is worth the time and energy to sit down and focus on this question. Becoming clear on what you really want will make it easier to find a role that truly fits your strengths, passion and purpose.

Stop Waiting and Start Moving

Share On Purpose is an organization of high performers who want to advance quickly. They crave constant (and constructive) feedback, but prefer it is given in real-time as part of a career advancement process, rather than an HR-driven annual review policy. They also want real mentoring from executives and leaders who’ve walked in their shoes.

That’s why Share dedicates 20% of its top executives’ time to work with our team members: training, mentoring, and coaching. 20% – that’s one full day a week dedicated to growing talent.

Share On Purpose is planning on launching one new brand a year, and in order to develop the leadership team for those new companies (since promotions are predominately from within) we begin to prepare tomorrow’s leaders today. At Share, you grow as fast as you’re able to demonstrate the skills.

To learn more about working at Share On Purpose, simply click here to find the position that will start you on a career path where you’re appreciated and there are no limits.