Understand Your ROI...
ROI is always about return-on-investment…right?
Who determines the return? The executives? The managers? The trainers? The marketing team? The front-line staff? All of these together?
What classifies as the investment? The labor? The time? The material? The technology? The creative thoughts? All of them together?
Even if we answer all of these questions, we still have to determine whether we are going to calculate the arithmetic or logarithmic return…Right?
Traditional return-on-investment calculations are as numerous as the training programs they represent. Before we venture down the path of choosing the “right-fit” formula, we must consider our audience. Ask yourself, what is driving their ROI.
We need to understand where we fit within the ROI path. We need to understand our role and be prepared to deliver against expectations other than our own. We may even be the bridge between the Operations and Training or the Executives and the Operations. Either way, by understanding what drives R.O.I., we are better able to communicate and positively impact the organization...After all, this is what we all desire, a bigger impact for the organization...Right?
Throughout this venture, we will explore some unique ways in which executives, training teams, operators, and marketing teams align their efforts around what they define as excellence in action. Many may disagree with the terms. Many more may have other representations for what each letter represents. All dialogue helps understand the direction each individual takes when establishing their own ROI.
We will need to understand the mindset and goals of the Executives if you are in Training or Operations. We will need to address the needs of the Operations if you are an Executive or part of the Training Team. And, we will need to appreciate the intricacies and support the complexities of Training if we are an Executive or in Operations.
We will need to create mechanisms and build an integrated listening post for our brand, our product, and our organization. Feedback hubs influence strategy and drive learning results. Learning results will influence operational success. Operational success has an impact on both the customer and business as marketing plans, key messages, and storylines merge to establish a lasting and loyal relationship with our customers, vendors, and partners.
Who determines the return? The executives? The managers? The trainers? The marketing team? The front-line staff? All of these together?
What classifies as the investment? The labor? The time? The material? The technology? The creative thoughts? All of them together?
Even if we answer all of these questions, we still have to determine whether we are going to calculate the arithmetic or logarithmic return…Right?
Traditional return-on-investment calculations are as numerous as the training programs they represent. Before we venture down the path of choosing the “right-fit” formula, we must consider our audience. Ask yourself, what is driving their ROI.
We need to understand where we fit within the ROI path. We need to understand our role and be prepared to deliver against expectations other than our own. We may even be the bridge between the Operations and Training or the Executives and the Operations. Either way, by understanding what drives R.O.I., we are better able to communicate and positively impact the organization...After all, this is what we all desire, a bigger impact for the organization...Right?
Throughout this venture, we will explore some unique ways in which executives, training teams, operators, and marketing teams align their efforts around what they define as excellence in action. Many may disagree with the terms. Many more may have other representations for what each letter represents. All dialogue helps understand the direction each individual takes when establishing their own ROI.
We will need to understand the mindset and goals of the Executives if you are in Training or Operations. We will need to address the needs of the Operations if you are an Executive or part of the Training Team. And, we will need to appreciate the intricacies and support the complexities of Training if we are an Executive or in Operations.
We will need to create mechanisms and build an integrated listening post for our brand, our product, and our organization. Feedback hubs influence strategy and drive learning results. Learning results will influence operational success. Operational success has an impact on both the customer and business as marketing plans, key messages, and storylines merge to establish a lasting and loyal relationship with our customers, vendors, and partners.
Labels: Driving ROI, executives, listening posts, operations, training
posted by John E. Murray, III at
9:14 PM
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