Nestled inside the Paris hotel on the Las Vegas strip is Le Burger Brasserie. A French twist on the American burger experience whose menu boasts their famous 777 burger. For the bargain price of $777 you get a Kobe beef patty, with pancetta, goat cheese, seared foie gras, arugula, Maine lobster, 100-year-aged balsamic, and a bottle of Dom Pérignon.
While I sense the restaurant’s sales statistics tip slightly in favor of their standard $14 burger offering, few people would argue that the investment in an indulgence like the 777 should be based on its intrinsic value. It’s all about the experience. That’s why if you were to ask one of the high rollers who opted for the 777 if it was worth it, you probably wouldn’t get a detailed breakdown of its ingredients, their preparation, flavors, or freshness. The response would be emphatic, yet simple; “Hell yes!” (as they headed back to their favorite winning slot machine) or, “No way!“
But how do we evaluate the value of purchases whose return on investment (ROI) should be much more tangible?
Consider thousands of miles away from the Las Vegas strip in a modest midtown New York City office, the Vice President of Sales at a high-growth start-up is meeting with her operations staff.
The conversation turns to the status of their technology sri lanka telegram data stack. “That system we implemented last quarter to help decrease our response time for new leads…how’s that working?” she asks her team. “Alright” says one of her team members. “Our business development reps say it’s helpful.” “Great. And what about that business writing tool we bought to help our team craft more effective prospecting emails? It was supposed to help drive higher conversion rates. How’s that working?” Her team members stare blankly at each other. “A few people are using it but it hasn’t been a game-changer for us”, adds one of them.
Sound familiar?
Why is it that when it comes to assessing the value of our company’s technology investments, we often reduce the business cases we so rigorously crafted during the buying cycle to a binary, yes or no, sentiment? Is it working? Yes or No. Do people use it? Yes or No. Is life with it better than it was before? Yes or No. Can we get along without it? You get the idea.
Here are three big reasons why:
Ok, let’s cancel our subscription
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