When utilizing a certain technology or implementing a strategy, companies can measure their impact on their revenue through clear metrics that offer them a thorough insight into the way their decisions affect ROI. For example, in 2018, statistics show that for each dollar invested, advertisers have gained $5.97. Today, with the help of advanced technologies and modern software, businesses have extensive control over how they spend their investments, yet there are some strategies and solutions which, due to their flexible nature, don’t provide a first-sight analysis on ROI impact. Marketing strategies are often seen as too flexible to provide a measurement for ROI, although marketers are coming up with more and more methods for doing so, and they are understanding the importance a marketing strategy can have.
Another business strategy that might seem hard to analyze in terms of return on investment is the implementation of a mass notification system. The adoption of a mass notification system as an internal communication and crisis communication tool is spreading all over the US, with more and more companies understanding the need to not only have strategies in place for all their communication requirements, and also to utilize innovative solutions for doing so. But what does that mean for ROI measurement?
ROI in Relation to the Use of a Mass Notification System
Companies see mass notification systems as a mere necessity, then automatically write-off their investments in them as money spent for something that was needed in order to provide health and safety assurances, and also a tool for internal communication, but not as something that might result in an increase of revenue. Yet a mass notification system can have a significant influence on ROI, if properly implemented, and if its metrics are thoroughly analyzed. Nowadays, a modern and exhaustive mass notification system does more than provide a communication channel and broadcasting tool in the case of an emergency, having features that can help a company improve its communication solutions, thus decreasing the costs with old and not fully functional strategies and solutions.
Ways to Measure ROI for a Mass Notification System
The right mass notification system needs to provide you with an innovative and comprehensive mean of communication, and have features such as multi-channel broadcasting, real-time data analysis, or template creation. If you are employing a new mass notification system, updating your old one, or interested in testing such a solution for the first time and need to know more about how to measure its impact on ROI but also about how to perfectly make use of it, here are some suggestions which will help your business, regardless of industry.
Evaluate Your Strategies
In order to know the effect a strategy or solution has on revenue, and what happened with your investment, you need to properly evaluate all of its aspects, from drafting to implementation and feedback. Conduct a thorough analysis of the systems you have in place for communication, both in the case of a crisis and internal communication, and see how those systems are helping you. If you are still working with traditional methods, the metrics will tell you that you will save more time and money if you will implement a mass notification system to automate your processes, thus increasing your ROI and strengthening your responses in case of emergencies, and regarding employee communication.
Gather and Analyze Data About Your Business Continuity Strategies
Having a mass notification system in place means handling with professionalism and swiftness all situations which can lead to a disruption in your activities, whether we are talking of crisis related to natural disasters, structural damage to the building you are conducting your operations in, or an internal situation such as a data breach, or a failure in your network. There are many emergencies that might arise, emergencies that a mass notification system will serve to manage and limit the damages they inflict on your employees and business. Therefore, aside from providing health and safety assurances, a mass notification system will improve your business continuity and limit the financial damages you might experience in the case of a crisis. Gathering and analyzing all business continuity metrics will tell you more about the efficiency of your mass notification system and help you understand how your ROI is being influenced by it.
Use the Right Mass Notification System
With the multitude of solutions available in the industry, sometimes a company might find it difficult to know how to choose a mass notification system that will work for them, and how to integrate it with its current communication strategies. When deciding on implementing a mass notification system, make sure you are doing so after you have evaluated all current solutions and strategies, and the way a mass notification system can be integrated with them but also that you have analyzed and compared solutions based on your needs, goals, and objectives.
Do not choose a mass notification system just based on its popularity in the industry, or because someone has told you about it; conduct an in-depth analysis on how its features would work for your company and how having it in place can help you personalize, automate, and speed all your communication, whether we are talking about sending mass messages to employees, crisis-related messages or any kind of communication that is best to be broadcasted via a mass notification system.
Regardless of your activity, choosing and implementing the right solution for you, based on custom-tailored metrics will lead to an overall improvement in activity, save money which you were spending on less efficient solutions, and also save you time which you can invest elsewhere, therefore positively impacting your ROI.
The most important thing you need to remember about mass notification system is that they provide your company with a mean of staying one step ahead of all possible emergencies, but also with a solution for your communication and staffing strategies, solution which you can use to have all your related activities in one place, thus highly improving the efficiency of your overall business activity and supporting your business continuity plans. With features for time-saving, increasing productivity, recipient data collection, data protection, message customization, and more, a mass notification system will prove to have a significantly positive impact on your ROI, if the right one is chosen based on your company’s needs, and also implemented properly.
Update your crisis communication strategies to function with swiftness when implemented through the mass notification system, and make sure your communication strategies are always IT-friendly, so that you can utilize all features of a mass notification system, and be covered at all times.