“What will we gain from this?” Businesses often ask this question when evaluating new products or services. Businesses want to ensure that each new purchase they make will provide sufficient value, enough to justify the cost of the investment.
If it costs $15,000 to design a new website for your e-commerce store, how much additional revenue will the store generate after the first year? If it costs $30,000 annually to hire an external agency to handle your organization’s social media, how much will our followers grow after the first year?
The unifying factor in both examples above is that businesses are not only expecting a return; they want to know exactly how much the return will be. Whether that is a financial or non-financial return (for instance, a greater net promoter score or a higher employee retention rate, etc..), performance measures should be established and tracked to determine if a particular investment is worth pursuing in the long term.
When evaluating a social impact platform: a platform that connects businesses, community supporters and nonprofits committed to philanthropic initiatives, a business might ask the question, “What will we gain from this platform?”
To best answer this intricate question, we have developed a PDF that illustrates the ROI of a Social Impact Platform, proving that it is a profitable and worthwhile investment for any business wanting to make a real difference in the world.
