Is this answer to the ' can we measure ROI' question?

Mike from CIPS has forwarded me this press release from the COI on how they are looking to put a common approach in place to calculate the financial effectiveness and efficiency of public sector marketing.

The paper shows that the 1998-2005 Teacher Recruitment campaign not only paid for itself; but should provide returns of another £85 for every £1 spent. While the Tobacco Control campaign, is estimated to have saved the economy £7.1bn; against an advertising spend of £49.3m between 1999-2004.

The paper proposes a series of universal definitions to ensure practitioners adopt the same terminology and outlines a 10-step process to help government communicators determine sensible and robust estimates of Payback - the absolute financial benefit delivered by marketing - and Return on Marketing Investment (ROMI) - the number of pounds of Payback delivered, less the cost of the marketing - for every pound spent. It also provides six key principles that should underpin this.

Here is a link to the PDF on the COI website - click here.