The cost of doing NOTHING

The cost of doing NOTHING.

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The word that comes up in almost every conversation both with Customers and Prospects is BUDGET.

We have one.

We don’t have one.

We are planning our budget for 2023.

We spent our budget for 2023.

But what is the cost of doing NOTHING?

On 2 separate occasions I have had a conversation about a digital program that had no results and a trade show initiative that also had no results.

My questions are - what went wrong & what can we do to put together a process to gain a positive ROI for that effort?

In the case of the Digital Program- a quick survey was performed to find out that:

-?????People did not participate because there was a user error issue that prohibited them from moving forward

-?????Some did not go through to the?order placement because they had questions with no forum to get an instant answer

-?????Some wanted to place an order right during the call (9%)

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In the case of the Trade Show:

-?????The list was not vetted to take out people who stopped by the booth but they either did not need that product OR were not the decision maker from that particular company

-?????This un-vetted list was sent to the field

-?????The field did NOTHING with it- because of the above-mentioned points

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So now what?

There is an obvious interest in the offering of the Digital Promotion- but no plan for an outreach program to capture those orders.

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There was a lot of budget spent on a Trade Show- but no plan in place to determine who are true prospects and how to get them to the table for a discussion that will hopefully bring them on as a new Client

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If the budget is spent & there is nothing- it makes sense to re-invest in those programs, gain a return and, more importantly, use those ‘learnings’ to apply against future efforts.

Doing NOTHING…

Should not be an option.

Your marketing effort probably had many excellent components & now just needs a little push to get it over the edge.

Nothing?

I think NOT.