Knowing when next is best.

The saying ‘eyes bigger than one’s stomach’ isn’t just related to breakfast, lunch and dinner. The same thinking relates to digital transformations. As more leaders find themselves buying flashy platforms to keep pace, budgets and teams are often strained.

What happens when you go for the flashy new tool or platform and you find yourself without progress being made, a depleted budget and a frustrated team?

The situation

While I could list specific examples of this exact situation, we’ll focus on the common themes I’ve witnessed. From platforms that were promised as “putting the power in the hands of marketers” to budget-busters and unrealistic aspirations, overbuying tools and platforms is a common occurrence. It’s also a huge waste of money.

You know you’re in a bad spot when:   

• The budget is gone and implementation isn’t done

• You can’t move forward without the help of a consultant

• Other teams need to get involved – and they weren’t planning to

• The scope of work is constantly modified

• Your minimum viable product (MVP) has been redefined several times

• Your requirements aren’t clear and always shifting

• No one knows what is going on

Approach

Gathering an unbiased perspective and assessing a situation, is the most beneficial thing to do when a digital transformation has gone off the rails. Stepping back and acknowledging the mistakes, without judgement, is the only way to find a path forward.

The result

It’s more common than you may think for teams to realize that they are unable to implement, maintain or afford the ongoing costs of the tools and platforms they’ve invested in. It’s a balance between understanding short- and long-term costs. I’ve helped teams:

• Save more than $650,000 on websites by choosing flexible, lower-cost CMS solutions that saved on consultant fees, platform costs and internal resources.

• Save more than $400,000 in ongoing platforms costs by eliminating and optimizing existing tools.

• Save more than $300,000 on marketing automation platforms by choosing lower-cost solutions that work with existing systems and team structure.

• Save more than $175,000 in employee costs by evaluating team structure, identifying gaps, defining roles and modifying job descriptions.

Why it matters

Buying more doesn’t mean you can do more or achieve different results. Understanding your vision, creating a roadmap, developing a strategy and using what you have, are all ways to manage the financial and emotional costs of a digital transformation.