How to demonstrate the ROI of your digital certification project

In today’s digital age, the digital certifications have replaced traditional physical formats, providing efficiency and security. But how to demonstrate the return on investment (ROI) of your digital certification project? In this article, we’ll explore three ways digital certifications can generate tangible and intangible benefits and demonstrate significant ROI for your business.

Defining ROI

ROI is a financial metric used to evaluate the profitability of an investment. In the context of a digital certification project, ROI represents the economic value generated by the implementation of said project in relation to the costs involved.

The general formula for ROI (Return on Investment) is calculated as follows:

ROI = (Investment gain – Investment cost) / Investment cost * 100

Benefits of the digital certification project

1.Saving time and money vs. physical formats:

Discover how digital certifications can help you save time and money compared to traditional physical formats. Eliminate printing, shipping, and physical storage costs by adopting digital certifications.

Additionally, the digital certificate issuance and verification process is fast and efficient, increasing productivity.

Using digital credentials instead of physical formats offers significant time and money savings. Digital credentials are quick to issue, share and verify, avoiding the need to print, mail or store physical documents. In addition, access and management are simplified thanks to digital platforms and applications, which reduces printing, shipping and physical storage costs. With digital credentials, efficiency is optimized and economic benefits are obtained, while promoting sustainability and reducing environmental impact.

2.Greater marketing reach

Maximize your marketing efforts with effective digital certifications. Easily share your credentials through online platforms, social networks or email. Add links or QR codes to increase visibility and generate business opportunities and conversions.

Digital credentials are effective because they originate from user experience, which is the most authentic form of feedback we can obtain.

We all like to share our latest achievements, skills and goals. And this is precisely how LinkedIn in particular works. Therefore, recognizing your collaborators or students for completing a course or program, reaching various milestones in the organization, or participating in an event, always proves to be a valuable practice in itself.

Imagine that you provide a credential to your collaborators; They will undoubtedly want to spread the word and seek to be recognized on social media platforms such as LinkedIn for their new achievements. This action allows you to direct attention to your company and, without a doubt, will make your brand stand out in the digital environment. Your collaborators will become online advocates for your company.

3.Anti fraud and employability with blockchain technology:

Discover how blockchain-based digital certifications offer security and employability. These certifications guarantee integrity and authenticity by being immutable and traceable. Protect your company’s reputation and simplify hiring processes by quickly verifying candidate skills and qualifications.

Blockchain technology offers an effective solution to combat fraud and enhance employability. Thanks to its decentralized and secure nature, blockchain provides an immutable record of verified and authenticated information. This allows the creation of digital credentials and certificates that are tamper- and forgery-proof. By using blockchain, trust in professional profiles is strengthened and the validation of skills and achievements is facilitated. As a result, transparency is promoted, fraud risks are reduced and employability is improved by having a reliable and verifiable way to present professional skills and experiences.

Metrics to measure the ROI of a digital certification project

1.Total Cost of Ownership (TCO)

TCO is a metric that evaluates the total costs associated with implementing and maintaining a digital certification project. This includes hardware and software acquisition costs, training costs, operating costs, and certificate renewal costs.

The basic formula to calculate TCO is:

TCO = Acquisition cost + Training cost + Operational cost + Certificate renewal cost

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2.Reduction of security incidents

The decrease in security incidents, such as data breaches or electronic fraud, is another important metric to evaluate the ROI of a digital certification project. The number of incidents can be measured before and after project implementation to determine the effectiveness of the security measures implemented.

To calculate the reduction of security incidents, you can use the following formula:

Incident reduction = (Number of incidents before the project – Number of incidents after the project) / Number of incidents before the project

3.Productivity increase
A well-implemented digital certification project can improve employee efficiency and productivity by streamlining processes and reducing the need for manual tasks. Measuring productivity growth can be done by comparing key performance indicators (KPIs) before and after project implementation.

You can calculate the increase in productivity using the following formula:

Increased productivity = (Productivity after the project – Productivity before the project) / Productivity before the project

By integrating the metrics mentioned above into the ROI formula, you can get a more accurate and detailed assessment of the economic value generated by your credential certification project. Remember that ROI is expressed as a percentage and allows you to compare the investment made with the benefits obtained.

It is possible to assert that demonstrating the ROI of a digital certification project is essential to justify the investment and guarantee its long-term success. By evaluating tangible and intangible benefits, and using appropriate metrics, organizations can demonstrate the economic and strategic value of implementing digital certification.

Saving time and money, effective marketing impressions, and security provided by blockchain technology are key advantages. Take advantage of these benefits by adopting digital certifications and strengthen your brand, optimize your operations and protect the integrity of your credentials. Take the leap into the digital world and get the most out of digital certifications!

Masterclass on ROI

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