Return on Marketing Investment - ROMI
In the digital market, ROMI stands for Return on Marketing Investment. It is calculated as the ratio of the total profit earned from marketing to the total expenditure made on marketing. It tells us about how advantageous Digital Marketing is to a particular business or product. Based on the ROMI for any product, it can be decided whether or not digital marketing must be done for that product.
ROMI = (Profit Earned from Marketing) / (Actual spent or Budget of Marketing)