What is it for?
It’s probably the most universal online marketing tool, which could be useful to any buyer/investor as well as to any business. Simply told, ROI calculator is designed for anybody, who has ever considered, is this thing/service worth buying or not. Usually people appreciate their hard-earned money and are afraid of losing it, so the positive respond to that bugging question on your website “is it worth it?” might determine your sale.
How does ROI calculator work?
ROI calculator is an online widget. To make it work, you will have to embed into your website. And that’s it, no coding or other technical skills are required. Though the basic version of this tool is pretty simple and ‘ordinary’, you can edit ROI calculator as much as you want to make it match ideally to your needs.
ROI calculator not only fully adapts to your business needs, but it’s also a designer friendly tool. The control of its appearance is in your hands. Hop into the jungle of text & color variations, and make it as you like it. Return on Investment calculator is completely compatible with all modern browsers, and totally responsive - works smoothly on any device whether it’s a smartphone, a tablet or a desktop computer.
How a ROI calculator can help you convert more visitors on site ?
Many people relate ROI calculators to the financial industry. As something that helps to make decisions about investment or big commitments. But actually, return on investment is important everywhere we go in our lives. Your customers are looking for value in your product and trying to understand if it's worth buying not only from the financial perspective. The added value of your product or service might be that you're saving customers time by doing some kind of home chore for them, or that their choice has some kind of positive impact on Earth, plastic, renewable energy, and so on. There are a lot of things you can put to numbers, excluding money!
And in many cases, such a value presentation has a stronger impact in the customer's decision-making process, so adding an online ROI calculator can help you convey the real value of your product straight on your website.
Examples of ROI calculator use
As we already told you ROI calculator may be useful in any situation, where there’s a relationship between seller & buyer/investor. Here are some typical examples:
Imagine that your company is selling vehicles. Your potential client Andrew visits your website. He lives in the big city, where he rarely needs a vehicle for commuting. Despite that, your potential customer likes going out of the city on weekends and traveling during vacation. Andrew is using a rental car almost every weekend, but he would consider of buying his own transportation, because the rent prices are high. So, ROI calculator for a potential customer like Andrew can estimate, how much he would save on vehicle rent, if he bought a car from you or to calculate, how fast this deal would pay back.
Let’s say you have a real estate company. Your potential client Larry is an investor. He’s interested in the land-plot, that you are selling. Larry is considering, is it worth to buy your property and turn it into a golf course, or build a suburb hotel, or rent it for advertising companies. In this case, for your specific product, you can apply ROI calculator, which estimates potential investments and returns, so Larry and other potential investors would get more interested in your products.
Imagine that you are providing children carrying to and back from school services. Your potential client Sarah is a mother of 3 different age group children: one is going to a primary school, while two other kids attend a high school. Sarah with her kids live in the Northern part of the city, while the primary school is in the East side of the town and the high school is in the downtown. There is no school bus service in their neighborhood, so she must drive them by herself. Even though Sarah works from home, you could imagine, that this morning ride takes her forever. So Sarah Googled and found your website. Since the schedule of school is tight and the traffic in the morning is just terrible, she still needs to evaluate and foresee, which service she should be choosing. This is where ROI calculator comes to help. Here you could give an opportunity to your potential customer like Sarah to enter the exact times, places, number of kids, places for pick up and etc in order to make it work.
Benefits of having ROI calculator on your website
Though they seem pretty obvious, but just in case you’d be uncertain, here they are.
Benefits to your business:
Greater conversions, compared to traditional content. Motionless content like blog posts, ebooks is OK for a first time visitor, but what about returning ones? Switching from static to interactive content could increase your completion rate by 80 %! ROI calculator may be your perfect start of the growth. What’s more, an interactive ROI calculator is a fun way to get an information and very interactive. By the time your website visitors start entering required information, you got their attention. They’re sucked into the game. Therefore, later on, after they’re finished their calculations it’s extremely easy to collect sales leads (no matter it’s an email, an order form or a phone call to receive more details).
Boosts your brand promotion. Calculators do get a lot of attention, and people share it. NY times buy vs rent calculator or student loan calculators gone wild and became viral. Just imagine the numbers... 187 k shares and 57 backlinks over the year!
Increase your brand trust. ROI calculator is not just another marketing form, shouting ‘Hey, you have to buy this!’ Instead, this tool provides valuable and personalized information, which is exactly, what your potential customers are seeking.
Integrate with sales and marketing tools. ROI calculator has a feature of transferring your leads directly to SalesForce, HubSpot or any other existing CRM system, you’d be using. This way you can keep all prospects and inquiries in a single place.
Benefits to your potential customers
Provides easy to understand information. The calculation of return of the investments include many factors, what makes it pretty complicated. ROI calculator skips all these ‘planning’ steps, and provides worked out inputs. No previous studying of redundant information is needed. Your potential customer need to complete a very easy task. It’s the entering a few personalized numbers, and the information is displayed in the screen instantly.
Helps to make a measured decision. Interactive ROI calculator is the perfect tool for closing the deals. In the situations, when your potential customers are deeply into your website, ROI calculator might become the decisive factor in decision making. At that moment people browsing your website are having the same questions in their heads - “Is it worth buying? Should I buy it from this website or choose other”. ROI calculator, gently placed on the page of latest stages of the funnel should answer all these questions, and make.
The basic ROI calculator is just a cap of the iceberg. With Calconic you can create way more awesome stuff. Using our platform, you can literally create any type, form, length, complexity calculator you can think of. For instance, you can create a calculator, which evaluates the return of your investments into antique chair after 50 years. Or you can build a calculator, which would provide advices and calculates the return of your investments to a few different occupations and tell you, which college will give you the most return of the tuition fees.
In the end, If marketing giants like Hubspots and Graphisoft embedded ROI calculator on their websites, why wouldn’t you consider having it one?