Today enterprise companies use complex analytical models to evaluate the effectiveness of every marketing expenditure in order to monitor their return on marketing investment (ROMI). The main problem encountered by SMBs is that they cannot effort utilizing analytic companies – often used by big companies - that charge a lot of money for such service, as a result SMBs business owners have no way of knowing their actual return on investment per currency spent, often relying on nothing more than their gut feelings. ROMI is a startup company that has been developing a unique SaaS platform that enables small businesses from the retail non-ecommerce industry, in an affordable way, to accurately measure the actual return on investment of their expenditures on each of their marketing/advertising digital channels. By using this service, small business owners can figure out what is the impact of their marketing expenses if any on their revenues. Based on this analysis, the platform provides recommendations enabling business owners or their advertising consultants (marketeers) to use their media resources more efficiently and consequently increase revenues. The platform developed by ROMI is designed specifically for small and medium-sized businesses to attain the desired evaluation at a minimal cost. The start-up is based on advanced, proprietary algorithms, which work directly with internal data available to any small business manager. The platform produces an ROI analysis of all digital marketing spending through the user-friendly three-step process and calculates businesses' brand equity (what will the revenues be if the advertising spent is 0).
