An Intranet is a private network created by an organization for its employees to simplify collaboration and smoothen communication among them. Intranet leaves a positive impact by improving your productivity, enhancing user experience, and streamlining your communication. However, when it comes to tracking the Return On Investment or ROI, things become a bit challenging. This blog will share a few methods to take on these challenges and ease the ROI tracking of your intranet this year.
To begin with, there are two different methods you can use to measure the ROI of your intranet. Let’s discuss them one by one:
1. Qualitative method
The qualitative method involves collecting subjective data through employee satisfaction surveys and feedback from managers. With this type of data, you can understand the way your intranet system is used, what your users look for in your intranet system, and whether you are providing the same or not. Before you collect feedback, make sure every user in your team has used the software thoroughly. If you’ve just begun, you can use an intranet free trial, share its access with all your team members, and then start soliciting feedback.
2. Quantitative method
The quantitative method involves collecting objective data such as the number of pages viewed, the number of documents downloaded, and the number of employees who use the intranet. Through this objective data, you can measure how your intranet affects your productivity, user satisfaction, and your business communication.
Ways to Measure ROI – Qualitative & Quantitative
Here are some of the specific ways to measure the ROI of your intranet using qualitative and quantitative methods:
- Employee satisfaction surveys: Ask employees how they rate the intranet in terms of its usability, usefulness, and impact on their work.
- Manager feedback: Ask managers how they think the intranet is helping their teams to be more productive and collaborative.
- Focus groups: Convene focus groups with employees to get their feedback on the intranet.
- Page views: Track the number of pages that are viewed over the intranet each month.
- Document downloads: Track the number of documents that are downloaded from the intranet each month.
- Active users: Track the number of employees who use the intranet each month.
- Time saved: Estimate the amount of time that employees save by using the intranet.
- Cost savings: Estimate the cost savings that the organization has achieved by using the intranet.
Tips to get started on measuring your intranet ROI
You now understand the methods to measure the return on investment or ROI of your intranet. But how to begin with it? How do you start tracking it in real life? Here are some of the steps you can follow to do that:
- Start by setting clear goals for your intranet
Decide what you are trying to achieve with it. Once the objectives are clear, crafting a plan for measuring ROI will become smoother.
- Choose the right methods for your organization
When it comes to measuring the ROI or the intranet, there is no one-size-fits-all method. Every business has its own way of operation. Also, the size and complexity differ too. Hence, you need to figure out precisely what type of method will go with your organization.
- Collect data consistently
After selecting your preferred method, you can start collecting the data. You need to consistently collect data to have a decent amount of figures in your hand. Collecting a handful of data will make it easy for you to keep tabs on the performance of your intranet.
- Analyze the data carefully
Lastly comes the most crucial step. After collecting the data, you can start analyzing it to understand the behavior of your users, usage of your intranet, and other important factors to measure the ROI successfully.
Growing with a CAGR of 14.11%, the Intranet software market is predicted to reach $36.8 billion by 2027. This indicates that businesses are actively embracing the technology. And if you’re looking to do the same, you should also learn how to measure its ROI. Without measuring the ROI of your intranet, you cannot prove its value to your organization.