This is the new catch phrase that seems to be popping up in several sales scenarios. ROI is an often over-used "cliche" business acronym but a relatively new one has surfaced. That would be "M" for Marketing. There is tremendous scrutiny on every budget dollar spent and companies and their departments have to be able to justify their expenditures from an MROI perspective.
"In God we trust, all others bring data" - not sure where this came from but is being used quite often these days. The Harvard Business Review generated a piece called: Competing on Analytics. This was indeed an eye opener as more companies focus not only on overall benefit of your "proposal" - but they are looking for more. More proof that they are making the right decision.
So tune up your proposals, presentations, and pitches and make that pie graph SCREAM with relevant data that supports your overall value proposition.
1 comment:
Great advice Dave!
So many people don't take the time to adequately support their propositions with compelling data.
It becomes even more important in the current economic climate. Far too often people assume that the intended audience understands the inherent value being presented.
Just ran into a company recently that wanted 400K investment to develop an application. They had a 2 page business plan, a 1 page proforma and a brief demo. No market analysis. Needless to say, they didn't get it!
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