You have a new AR project. How do you measure its ROI?

1 Define your goals

Before you start measuring the ROI of your AR project, you need to define your goals and objectives. What are you trying to achieve with your AR project? Who are your target users and what are their needs and preferences? How does your AR project align with your business strategy and vision? By answering these questions, you can identify the key outcomes and indicators that will guide your measurement process. For example, if your goal is to increase brand awareness, you might use metrics such as reach, impressions, or engagement. If your goal is to improve customer satisfaction, you might use metrics such as feedback, ratings, or retention.

2 Choose your methods

Once you have defined your goals and metrics, you need to choose the methods and tools that will help you collect and analyze the data. Depending on your AR project and its context, you might use different methods, such as surveys, interviews, observations, experiments, or analytics. For example, if you want to measure the user experience and satisfaction of your AR project, you might use surveys or interviews to gather qualitative feedback from your users. If you want to measure the technical performance and usability of your AR project, you might use analytics or experiments to track quantitative data, such as loading time, errors, or interactions.

3 Calculate your costs

Another important aspect of measuring the ROI of your AR project is calculating your costs. You need to consider all the expenses and resources that are involved in developing, deploying, and maintaining your AR project. These might include hardware, software, design, development, testing, marketing, distribution, support, and updates. By estimating your costs, you can compare them with your benefits and determine the profitability and efficiency of your AR project.

4 Evaluate your benefits

The next step is to evaluate the benefits and value that your AR project generates for your users and your business. You need to translate your metrics and data into tangible and intangible outcomes that reflect your goals and objectives. For example, if your AR project increases customer loyalty, you might calculate the lifetime value or the referral rate of your customers. If your AR project enhances learning outcomes, you might measure the knowledge retention or the skill improvement of your learners. By assessing your benefits, you can demonstrate the impact and relevance of your AR project.

6 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?