Technical Writing & Training Development Pricing Definitions
Most people will want to start analyzing a project by obtaining pricing for their technical writing or training development project to help justify the ROI. A simple definition of return on investment (ROI) is: “An approximate measure of an investment's profitability.”
Another closely related term is Cost-Benefit Analysis. Cost-Benefit Analysis uses measurable financial metrics such as revenue earned or costs saved as part of decision-making to pursue a project.
Types of ROI
Most Technical Writing “Return On Investment (ROI)” metrics fall into two categories: Quantitative and Qualitative. In many situations, quantitative metrics provide direct dollar savings back to the company or organization. Qualitative metrics provide indirect savings to the company or organization.
Examples of QUANTITATIVE metrics include:
Reduced re-work and/or waste during manufacturing
Easily found answers and solutions, stopping the mass set of emails, phone calls, and video meetings to find a solution
Reduced customer complaints
Reduced support costs/calls
Less regulatory fines
Examples of QUALITATIVE metrics include:
Quality – A subjective metric that depends on the accuracy, completeness, comprehension, and complexity of your content.
Usability – Documentation that is “good” but not easy to use when required is really common, but not good! You want documentation that is easy to navigate and structured well.
Improved audit results leading to reduced time and energy answering audit findings.
Overall the cost of hiring a professional writer to help to create correct and user-friendly documentation will yield a positive ROI. Working with a Technical Writer or Technical Writing Agency is a value-added contribution to any company or organization. As the saying goes, "you get what you pay for".
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