What's the return on roi? the benefits and challenges of calculating your library's return on investment

Abstract

The use of Return on Investment studies in a library setting have produced a ROI numbers that are quite variable although many seem to group in the $4 to $6 of benefits for each dollar spent by the library. Relying on a single measure, such as Return on Investment, is not likely to produce a positive reaction among the library's funding decision makers year after year. As most library directors know, there is no silver bullet that will lead to sustained library funding. The use of Return on Investment as one of several keys performance measures may produce more positive results for the library. Some organizations and libraries have found the use of an overall framework for displaying and reporting several key performance measures to be effective among decision makers and stakeholders. The library's ROI could be one of the key performance measures.