How do you measure the ROI of your internal comms?

1 Define your objectives and metrics

Before you can measure the ROI of your IC, you need to define what you want to achieve and how you will measure it. What are the specific, measurable, achievable, relevant, and time-bound (SMART) objectives of your IC strategy? How do they support your organizational vision, mission, and values? What are the key performance indicators (KPIs) that will help you track your progress and results? For example, you might want to improve employee engagement, retention, productivity, collaboration, innovation, customer satisfaction, or brand reputation.

2 Choose your methods and tools

Once you have your objectives and metrics, you need to choose the methods and tools that will help you collect and analyze the data. Depending on your objectives, metrics, budget, and resources, you can use surveys and polls to measure the reach, relevance, clarity, feedback, and outcomes of your IC. Focus groups and interviews provide deeper insights, feedback, and suggestions for improvement. Analytics and dashboards track and display the data related to your IC channels, platforms, and content to measure usage, engagement, interaction, and performance. Benchmarking and audits compare your IC practices with internal or external standards or best practices to identify strengths, weaknesses, opportunities, and threats.

3 Calculate your ROI

After you have collected and analyzed the data, you need to calculate the ROI of your IC. This is not always easy or straightforward, as there are many factors and variables that can influence the outcomes and impact of your IC. However, a simple formula you can use is:

ROI = (Benefits - Costs) / Costs x 100%

Benefits are the positive outcomes or value that your IC generates for your organization, such as increased revenue, reduced costs, improved quality, enhanced reputation, or saved time. Costs are the negative outcomes or expenses that your IC incurs for your organization, such as staff time, resources, materials, software, or training. You can use the data and metrics you collected to estimate the benefits and costs of your IC, and then plug them into the formula to get the percentage of ROI.

4 Communicate your results

The final step is to communicate your results to your stakeholders, such as your senior management, your team, your clients, or your partners. This is important to demonstrate the value and impact of your IC, to justify your budget and resources, to celebrate your achievements and successes, and to identify your areas for improvement and learning. You can use different formats and channels to communicate your results, such as reports, presentations, infographics, videos, or newsletters. Make sure to tailor your message and tone to your audience, and to highlight the key findings, insights, and recommendations from your ROI analysis.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?