Understanding The Commercial Value of The Technology
Written by Neil Shaylor on October 11, 2023
My grandad used to say to me, “Never lose touch of money son, by always knowing the price of a pint of milk”. As I got older, the significance of that saying crystallised into a broader lesson – the understanding that it stands for the cost for something that you are familiar with and fully understand what you are getting in return for your money. It’s a commodity.
However, on technology, the equation is not as simple. Technology is not a commodity! Unlike the straightforward cost of a pint of milk, deciding the price of technology can be a complex endeavour. So how much does it cost? The simple answer should be ‘ an agreed percentage of what it saves’.
Technology provides performance by replacing a costly, timely process with automation and demonstrable value. Consequently, it should be valued the same way commercially. However, too many technology buyers consider the cost an ‘added fee’ to a process rather than spending time equating its real value.
Here is the underpinning problem:
- Tech is not easy to understand.
- And you can’t see it.
- It doesn’t have history.
- Then you can’t evaluate it.
- So then you can’t trust it.
- You then can’t trust your decision.
- Making technology a difficult thing to buy or sell.
Selling the invisible!
LeadScale has sold many licenses of its technology to customers. However, only a few are buying it for its true value. They see the technology as a campaign enabler. This agile system helps advertisers go to market quickly. Utilising the expertise in connecting systems to support lead generation campaigns. Helping scale the activity across all channels allows media buyers to achieve their core goal. Their KPI is usually to spend the budgets they are given. Regrettably, the technology is sometimes relegated to a mere ‘cost’ for this specific function, overlooking its broader capabilities.
However, LeadScale is proud to have clients passionate about campaign performance and accountability. These clients understand the technology’s power and focus on how the Engine saves time and money by preventing unserviceable data from entering their sales and marketing functions. They recognise the significance of avoiding wasteful spending by targeting existing customers and acquiring new leads at a premium generated from a genuine lead generation process.
However, there’s another factor to consider. Even when buyers can evaluate the tech’s cost-saving benefits, they need to face the truth. Are they prepared for the truth? What does it mean for their job role if they don’t deliver their budgets? Are they willing to put in the extra work to find more sources and achieve the budgets?
Even if they are making the most of the technology, which has demonstrably saved them thousands, are they prepared to acknowledge the technology’s pivotal role? Or will they still prioritise cost reduction above all else? It’s a challenge beyond mere cost evaluation, delving into the core of their principles and organisational mindset.
Know your value!
Big Energy = Mass (Media channel and creative) + Speed (to market) x LeadScale Engine (technology helping optimise by multiplying the Mass and Speed by itself!)
That was a lovely compliment, thanks. I can really relate to what Mark was trying to say.
A Tempting Invitation
If you want to run a fully optimised lead generation campaign and don’t think it is worth licensing a technology to help you achieve this, I would be more than happy to run a short practice with you. Let’s better understand how the cost of the technology will only be a small percentage of the money it saves. If it doesn’t, we will give you your money back!
If you’re considering running a thoroughly optimised lead generation campaign and are uncertain about the value of licensing a technology to help you achieve this. In that case, I have an invitation for you. I’m more than willing to run a short demo with you. Allow me to present to you how the cost of the technology will only be a small percentage of the money it will save you.
If it doesn’t, we will give you your money back!
Anyway… It’s 90p for milk unless you are a Hipster, then it’s £1.25 for Soya Milk!!! Oh, and it’s £4.50 for a pint of beer, but you knew that anyway.
Embrace the Future, Lead the Generation
LeadScale is revolutionizing the way businesses work with lead generation. Our experts are helping companies reach new heights by driving success and efficiency through data-driven insights. So, take the first step today. Let LeadScale empower you to unlock the true potential of your business and boldly navigate growth.
Contact our team to see how you can maximize your marketing budget with LeadScale.