What sort of ROI can you expect from a drone program? ??

?? Hello everyone, and welcome to the latest edition of our bi-weekly newsletter:?Drone Enabler's Digest!

If you’re someone whose finger is on the pulse of the UAV industry, or you consider yourself a UAV expert - then you can probably stop reading now, this isn’t for you.

But, if you're curious to learn more about how drones can transform your business, the secrets of successful drone programs, and more about the people behind the golden brackets at Consortiq [C], then we're glad to have you along for the journey!

Previous Newsletters

• In our first newsletter, we made the case for drones for preventative maintenance, and whether you should run your operation in-house or outsource it.
• In our second newsletter, we talked about the considerations you need to be aware of when starting up an in-house drone operation.
• Now, on to our latest...

BLUF - Bottom Line Up Front

• You’ve decided your organization could benefit from using drones (hurray!). Now, you just need buy-in from your management/leadership to make it happen.
• First, you need to decide how you’re measuring Return-on-Investment, and what will make the program a success. You need to balance your needs with the costs and gains associated with program. Keep in mind it won’t always be a financial gain (Think: safety ?)
• Then, you need to overcome the common barriers: concerns about privacy, technology maturity (these “new” drone things), cost, and more.

So, how can you make this dream a reality? Let's dive in.

Return on Investment

Let's start with an obvious one: financial gains vs. cost. (Hey, we get it. Drones aren't cheap!)

?? Identifying the most likely use for your drone will help determine not only the costs associated with adopting UAVs, but also help identify areas of cost savings.

For most operations, this is the most important part of calculating the ROI of a drone program. Remember, that it never hurts to?ask an expert, especially in this crucial step.

Short Term vs. Long Term Returns

Returns on investments rarely happen overnight. And, the same goes with drone programs.

Sure, you might discover some quick financial returns right off the bat. For instance, if you can inspect a large chimney or flare stack in a few hours with a drone, as opposed to several days by manually climbing & looking around, you're already saving money.

But, you can't always expect quick wins. And, some savings aren't immediately obvious.

For instance, improvements in safety can lead to lower insurance costs, fewer workmen's compensation claims, and more.

Or, if you can avoid operational shutdowns by utilizing drones, then you'll need to factor that in, as well.

Beyond Financial Gains

Not all gains need to be financial to consider your drone program a success. And, they're no less important. Take, for instance, the following:

Quality Based

? Increase survey accuracy - Better accuracy, in a fraction of the time? Yes, please.

? Create a repeatable (automated) inspection process - Need to track the progression of wear & tear, corrosion, erosion, or anything else over time? Programmed flights allow for the exact, repeatable data you need to make it happen, more reliably than ever.

Safety Based

? Reduce on-site risks - No need to put workers in danger zones, confined spaces, or high-traffic areas.

? Reduce fall risk - Why would you risk someone's life when you can fly a drone there, instead?

Of course, there's plenty more to consider. If you're interested learning more, we break it down in detail, right here: What You Should Know About the ROI of a Drone Program

Overcoming Barriers

You've got a great idea, and you're pretty sure your ROI will be solid. Now you've got another challenge. You know the guy.

We call him, "We've always done it that way, Ray" You call him irritating.

Sometimes, people just insist on the status quo, and doing things the way they've always done it. And, typically, they have the same reasons: for not making the move to drones:

• Privacy Concerns
• Initial Cost
• Confusion Over New Technology

Fortunately, it doesn't usually take much to overcome many of these.

?? With a solid ROI plan laid out, cost concerns can be addressed. Plus, depending on your needs, drones might not be as expensive as you think.

?? As far as privacy concerns go, once people realize drones aren't actually spying on anyone, just taking inspection photos, the mood usually lightens.

?? Sure, adopting drones represents a big leap forward in technology. But, with today's equipment being safer, more intuitive, and easier than ever to use, it doesn't take long get the hang of it.

If you're looking for an in-depth look at overcoming barriers to drone programs, check out our piece on it, right here: Overcoming 3 Key Barriers to Drone Program Creation

Now, of course we know it's not always that easy to get a new program up and running. Sometimes, you need a guiding hand to help you out and get started.

Heck - sometimes you just want someone to do it for you! (and that's fine too!)

So, if you ever want to learn more about what you can do with drones, we're more than happy to chat!

Follow us on?Consortiq LinkedIn, or connect with one of the team.

Thanks for reading, and feel free to DM us anytime!

Garf Beverley, Managing Director for Consortiq.

Jennifer Taylor, Business Development Manager - EMEA