What’s the quickest way to get an ROI from a Specialised Marketing Assessment? 

It’s natural that when investing in a quiz, you’re going to want to reap the rewards as soon as possible, and it is possible.  

But before we dive in to how you can achieve ROI quickly, let’s take a step back and remind ourselves that a Specialised Marketing Assessment is a long-term strategy that brings long-term gain. There are quick wins to be had, but the overall benefit of the quiz is to set you up for longstanding success.  

Right, that’s the sensible bit done, now for the juicy stuff! The good news is that there are strategies you can employ to speed up your quiz ROI and we’re here to share them with you. 

In this article we’re going to explain what ROI is and how you can measure it. We will then share our three ways to speed up and increase ROI.  

What is ROI? 

ROI is a general business term that stands for return on investment. In the context of your quiz, it refers to the return you’ll get from your time, quiz promoting activities and expenses. 

Put simply, quiz ROI is about considering all the time, money, and resources you put in to building and promoting the quiz and then asking, ‘what tangible return am I getting for my business?’ 

If your ROI is more than zero, you’ve made gains for your business. If your ROI is in the red, aka less than zero, that means that you put in more than you’ve got out and have made a loss. 

Measuring ROI is essential to developing and fine tuning your quiz campaign. It shows you what’s working and what’s not, allowing you to take action and make changes to improve. 

How to measure the ROI of your quiz 

Exactly how you work out your ROI depends on your goals for your quiz. It could be brand awareness, increased revenue, or lead generation for example, each of which have different key performance indicators (KPIs). 

Engagement is a popular metric for brand awareness campaigns, but it doesn’t have a monetary value attached to it. And yet, it does contribute to sales further down the line, so it’s still valuable. That’s why, when you start calculating ROI, you should be thinking about value rather than revenue or profit. 

Here’s how to measure the ROI of your quiz: 

Step 1: Calculate how much you spend on the quiz. Costs include: 

• The cost of your quiz package plus the monthly licence fee. Check out our pricing page to see how much an online quiz costs 
• Any budget allocated to paid ads to promote the quiz 
• Time spent on content creation and promotional activities 

Step 2: Define clear quiz objectives that are aligned with overall business goals 

• Ideally this will be determined before the quiz is created 
• Having a clear objective for your quiz means you can show how the outcomes of the quiz campaign are aligned with business objectives 

Step 3: Track metrics that align with your objectives 

• Tracking the right metrics is important to fully understand your quiz ROI. SMA Digital’s software provides you with reports that tell you about: 

• With SMA Digital, you can connect your quiz with your CRM so you can find all the relevant data in one place 
•  When deciding what metrics to use in order to measure your quiz ROI, ask yourself: 

1. What does my ideal client do after taking my quiz? 

2. Does this metric align with my bigger business objectives? 

3. Does it help me make decisions about what to do more of and what to do less of? 

• Measure your quiz ROI over the same amount of time as your sales cycle. So, if your sales cycle is three months, gather three months’ worth of quiz data before reporting your ROI 

Step 4: Create an ROI report that shows the impact of your quiz 

• Once you’ve measured your ROI, share it with your stakeholders to show how your quiz has impacted the business’s bottom line. Make sure your report is written in clear, straightforward language that avoids jargon. Remember to relate the results to the overall business goals 

Three ways to speed up and increase ROI 

1. Test and optimize 

• Many aspects of your quiz and how you promote it can be tweaked to see which methods give the best results. For example, you can: 

1. Try your quiz out on different niche’s 

2. Play around with the questions and scoring 

3. Use different strategies to promote the quiz. See our guide to promoting your quiz for ideas 

• Be sure to include your learning in your ROI reports. Understanding which strategies and promotional channels work best for your audience is a sure-fire way increase ROI 

2. Listen and adapt 

• Things change fast these days. What resonates with your audience today might not tomorrow. You need to keep your quiz content current, diversify your promotional activities, and update and adapt your strategy over time. Ask yourself: 

1. Are your ideal clients’ pain points changing?  

2. Have your business objectives and priorities changed?  

3. How are new technologies changing the way your audience interacts with you?  

• It’s important to pay attention to and understand what’s happening in your market. You must then use that knowledge to inform your quiz strategy. This will ensure you reach ROI quickly and sustain increased ROI over time 

3. Focus on the long-term 

• Don’t focus short-term ROI as you could easily lose sight of the bigger picture and distract your audience from what makes your organisation unique and valuable 
• Leveraging trends is a good way to get engagement, but only if it provides value to your audience and is aligned with your brand’s core philosophies 
• Don’t forget that your quiz ROI includes value-based returns such as:  

1. Better insights into your audience 

2. Positioning you as the trusted authority in your industry 

3. Building trust with your ideal client 

How a Specialised Marketing Assessment delivers ROI straight away 

SMA Digital clients have experienced near instant ROI after implementing their quiz.  

Nicki Williams of Happy Hormones reported 15,000+ New Qualified Leads and Revenue Up 80%.

The feedback we receive describes the implementation process with SMA Digital as very quick. Clients have access to their quiz data instantly so they can begin measuring ROI straight away. 

Our clients describe the Specialised Marketing Assessment solution is easy to learn and use. Everyone in the organisation can get access to the data and reports to inform their individual roles and responsibilities. 

Will Polsten of Mindset Business Coach said “This was the final piece of the jigsaw for our marketing, it was so simple and so effective.” 

Rebecca Newenham, Founder of Get Ahead VA said “Working with Steve and the team was effortless. I really appreciated their input at every stage of the process.” 

Clients discover early on that the quiz helps them do and learn things they hadn’t considered possible. They can get accurate customer insights quickly that inform and speed up the sales cycle as well as contributing to other parts of the business. 

Samantha Lubanzu of Diversity and Inclusion said “Not only did I create a quiz that people love, the process gave me the foundation of my entire online course!” 

To learn more about how SMA Digital is helping clients get quick returns check out our case studies: 

• Read how Over 200+ ActionCOACHs are gaining an average of 14 highly qualified leads every month since launching their bespoke Specialised Marketing Assessment 
• Read how Lisa Johnson’s SMA Digital experience has resulted in over 12500 leads and increased member retention.