Written by Steve Miller, Sales Manager, Riverbank IT Management
Following my last blog, I’ve been thinking about how things look from the other side.
It’s important to remember that the true value of what we do is, well… what we do. Not where we do it or the tools involved. But why is that of value to us?
The simple answer is: because it’s of value to the clients. Our job is to understand them, not to help them understand us. If we get them, they’ll get us.
And, through luck rather than judgement, this leads to another question I’ve recently asked – why should I buy this from you? We create value based on what others value. But why would they value us doing it, rather than someone else?
Because we communicate a greater value proposition than the rest.
Primarily, we do this communicating via brand: more reliable, more efficient, more cost-effective and more responsive. However we do it, we strive to stand out to make our name synonymous with these benefits. It’s why businesses invest so much developing and growing their brand.
It’s also why IAG are currently at least £650,000,000 out of pocket. And £500m of that is solely through the devaluation of the British Airways brand. Over 3 times as much as the hefty compensation bill. Not counting lost sales, that’s £500m of pure brand.
We still don’t know what caused BA’s system catastrophe. What we do know is what could have prevented it: a proper disaster recovery solution. One which would not have cost them the better part of a billion pounds. Not this year. Not next year. Not over a decade.
If we trace this right back to the original cause of the problem it’ll be quite simple. The IT strategy wasn’t what it should have been; either the budget was too low or it was mismanaged. The connection between brand value and IT spend wasn’t made.
But imagine someone offered to insure your brand for a modest sum each month. For a small percentage of your annual revenue, you could protect yourself against major reputation damage.
Think about how much you’ve invested in marketing. How reliant your sales team is on your credibility as a business. Wouldn’t that insurance be something too good to refuse?
Of course it would be. So when you’re reviewing your IT budget, remember it’s not just about your IT.
Steve Miller is the Sales Manager at Riverbank IT Management, with over a decade of consultative sales experience. After several years of strategic IT engagement, he understands the value of forward-thinking IT. His main goal is ensuring delivery of IT solutions that support wider business goals, to deliver measurable benefits.