Benefits realisation is the starting point for any project or programme but there really is more to it than how quickly will it benefit the bottom line.  In fact I would go further and say that the bottom line is only one of the factors you should consider when starting any new venture….Now don’t misunderstand, I realise that for many the go/no-go decision predominantly rests with a simple set of questions:

• How much will it Cost?
• How long will it take to get it live?
• What are the risks?
• What is the profit margin?
• When do we achieve profit?

All valid and very sensible questions, so while we are in list mode, here are a few more:

• What is the impact on the company brand?
• Does it increase our presence in existing markets or open up new potential markets (what is the potential footprint increase)?
• Does it strengthen the relationship between the company and our existing customers by enhancing their experience?
• Is it likely to increase the morale of our employees?

Yes, I am sure you will agree, these are valid questions too though how many of you have considered the last point ‘employee morale‘.  Before moving on quickly, I really do think it is worthy of a little thought and consideration.  Of course your brand image is all about looking after your customers, and your employees are the front line when delivering that message so you may be surprised how effective a new product that is wholeheartedly backed by the employees from within can be in passing on this positive message to the public.

There are of course many other soft benefits to be considered but the subtle benefits, the ones which are impossible to pin down with a KPI are the ones you really need to consider.  Some of these benefits can do wonders for your corporate image with little direct marketing and as your marketing team will point out, brand awareness and corporate image sell products just as much as the price point.

So the next time you and your team are discussing the next investment opportunity, don’t just think of the margin, think soft benefits too.  In fact, if you have the capacity, make a point of ensuring you promote one of the financial loss leaders, simply for it’s soft benefits; it may be a tactical investment which will provide many rewards, soft ones of course.