When it comes to digital marketing, there are huge benefits to being an early adopter.
First, there are cost efficiencies in new platforms due to lack of competition. Second, to borrow a real estate analogy from Tom Martin, those who move into a neighborhood before it’s popular benefit most from any future popularity.
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Why does it matter? Here are three specific cases for a dedicated digital R&D budget.
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3. All managers in a recession: Keep ‘em confident at the water cooler.
And finally, we have the resource-strapped manager with aversion to risk. The recession has left him and his peers under pressure to defend programs. Of course, ROI is hard to come by early in the R&D process. A budget protects him from sticking his neck out or going up the flagpole on every project.
By creating a dedicated budget for digital R&D, we can benefit equally from new technologies and proven programs regardless of our personality type. How do you create the freedom to experiment in your organization?
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