February 21, 2024- Gaining value from investments is the main goal of any well-functioning business. However, industry challenges such as supply shortages, staff turnover, and pandemic disruptions have impacted the profitability of businesses in the medical distribution industry.
Practically all business decisions require an understanding of how the decision will impact return on investment (ROI), especially when it comes to creating marketing tactics. Focusing on ROI strategies can guide a brand in the right direction and refocus its overall goals. So, what is ROI, and what aspects matter (and don’t) when it comes to ROI?
Return on investment is a calculation of the value of an investment versus the cost. ROI is a useful measurement to assess the profitability of a particular investment. ROI can be calculated using the formula: (profit minus cost)/(cost).