I Have No Budget!

by Brent

In my other posts, I wrote on how to quantify the value of relationship mapping tools through the following:

Tangible and Intangible Benefits [ROI of Relationship Mapping]

Efficiency Tools [Efficiency of Relationship Mapping]

Return on Investment [ROI of Relationship Mapping]

I understand that we still have to deal with the reality of stagnant or shrinking budgets. Here is a good example from one of my ecstatic prospects who said, “I love Relationship Mapping! I see the viability and application but have no budget!”

When budgets are tight, it’s time to get creative. Don’t be afraid to ask vendors for alternative ways to fit your specific needs. Let’s look at some ideas to help:

1. Assess current prospecting tools weighing benefits against expenses.

2. Assess current prospecting methods, verifying that value is derived.

3. Keep a running list in Excel with your priority rank included.

4. Have relevant examples of the benefits on hand to share with superiors.

5. Share budgets with different departments if possible.

6. Directly ask your board members for a one-time allowance on the product (by sharing ultimate value relevant to the board member).

7. Ask for a customized plan that fits your organization’s needs.

Tight budgets tend to make teams even more cautious with funds that are allocated to products. Sometimes it makes sense to take a trial look at the service or product. Hopefully then, you will gain some understanding of what it can do for you and your organization.

In my experience, a lot of individuals are able to show direct value to their superiors and board members after trial periods.

The ultimate test of a service is the one in which you have the power to navigate and see results.