Five Easy Ways to Measure ROI for Enterprise Mobility
Implementing mobility throughout your enterprise should result in higher levels of connectivity between your employees, thus improving your processes and products. This connectivity also engenders better collaboration within your internal teams allowing employees to share best practices much faster. The target for every mobile enterprise app is to create a natural ecosystem within a company that links the separate components of the mobile infrastructure and provides benefits to the company, the employees and the customers alike.
It’s safe to safe that almost everyone understands the importance of a mobile workforce, especially in today’s competitive environment. However, there’s a big difference between an ineffective mobile force and an effective one. This is why it’s important to understand the best practices of measuring ROI for enterprise mobility. As with any aspect of business, measurements, adjustments and iterations are what make a mobile strategy truly effective.
Measuring Mobile ROI
There are several values which can indicate whether or not you are getting the most out of your investment in a mobility initiative. Some of these values are easily quantifiable, and some are harder to pin down. Here are some of the best methods of measuring the ROI of your enterprise mobility:
1. Revenue vs. Costs
One of the most straightforward metrics can be provided by the classic revenue vs. costs methods. By evaluating the increase in sales, time to market and profitability, you can easily calculate the financial benefits of the current strategy. Once you have these numbers on paper, it’s easy to understand how the benefits weigh against the costs.
This metric is not as straightforward as the previous one. However, if there is a noticeable decrease in the amount of time employees have to travel, and an increase in the amount of tasks completed in a given timeframe, you are definitely reaping the benefits of an effective mobilization strategy.
3. Adoption Rate
The end user of an enterprise app is always the employee, which makes adoption rate a very important metric for your bottom line. If you provide an easy to understand and easy to use app, your employees will gladly take advantage of the benefits it can provide, which in turn leads to increased employee productivity and profitability. However, a counterintuitive app that drains time and resources will see little to no use.
4. Usage Data
Usage data can provide invaluable insight into the effectiveness of a mobile strategy. Understanding metrics such as time spent or saved with am app, ease of use, and average time to complete tasks, among others, can provide the benchmarks you need to iterate and improve your mobile strategy and ultimately your ROI.
5. Customer Satisfaction
The proof is in the pudding, as they say. Customer satisfaction is an important measurement which represents the cumulative effect of all the previous metrics. If customers are overall happier with the services and products that you provide, it is a good indication that you are getting your money’s worth for your mobilization efforts.
The effectiveness of a mobile strategy can be determined using several measurements, some concrete, and some more fluid. Through a combination of these metrics, you can determine if your investment made sense, and how to improve on what you’ve built so far. However, perhaps the best way to measure your mobility ROI is to understand why you chose mobility in the first place. If increased productivity is your goal, the metrics you will use to determine if you’ve reached your goal are different than if you are more interested in better customer service. Building the right arsenal of metrics is as important as the results themselves.
About Finoit Technologies
Finoit Technologies is an IT company providing Web and Mobile application development services, and have worked on over 500 Web projects and over 200 iOS and Android apps from scratch.