Measuring Our Value So We Can Market It
Most professionals aspire to being respected and valued by colleagues and managers for positive contributions made to the organizations in which they workand none more so than information and knowledge professionals. Why, then, is it that we often feel that we are on a treadmillworking harder and harderand still are not valued in spite of all our efforts? Can it be because of:
1. Misdirected effortsknowledge center initiatives that are out of sync with business strategies,
2. Low visibility for our activities, or
3. Unmeasured results?
Misdirected Efforts
How attuned are you to critical business issues facing your organization? How have you focused your content and service offerings to match what the rest of the organization is focused on at this time? Constant communication and follow-up with users will keep you up to date with their most pressing concerns. Listen carefully to learn if there are decision points in business processes where information inputs could be more timely, better filtered, and better analyzed. This may mean finding the courage to quickly move in new directions, leaving traditional practices behind. In his discussion of business concept innovation, Gary Hamel (Leading The Revolution, Harvard Business School, 2000) states: "In most organizations there are few individuals who can think holistically and concretely about new business concepts, or envision radical adjustments to existing business models." Information professionals who think
holistically about the business and industry in which they are employed and who can respond to changing demands of the business will be highly valued.
Low Visibility
Marketing is a vital business activity for knowledge and information professionals. It is especially important at a time when information technology, knowledge management, e-commerce, and other departments are assuming information handling roles. Fundamental to successful marketing is knowledge of the customer, their needs, and their buying preferences. As information professionals move more retrieval processes to the desktop of users and assume more of a consultative role in their organizations, they have an opportunity to deepen and update their understanding of user/customer needs. Prepared with that understanding, they must target products and services specifically to meet customer needs. Consistent promotion of targeted, customized, high-value services and success stories via presentations, in promotional literature, and at appropriate spots on the corporate intranet is guaranteed to raise the visibility of information professionals.
Unmeasured Results
Contributions of information professionals may not be perceived to be of high value if results are not measured and presented in terms that resonate within the organization. It is natural to claim that we cannot put a monetary value on information or knowledge because it is intangible. We can also claim that the impact of information services on business decisions cannot be measured because the information component is just one of many factors that go into determining a business outcome or because results are long-term. Those claims leave us without quantified benefits and ROI (return on investment) calculations that senior managers require for revenue and profit analysis. It is therefore vital to begin to make some ROI calculationseven if it means beginning with anecdotal data and then making assumptions and generalizations based on the anecdotal data. Provide the rationale for the assumptions in your reports to management and use these assumptions as a starting point for deriving financial ROI values. As noted in the Factiva white paper that discusses ROI in greater detail (www.factiva.com/infopro/whitepapers), other metrics may include time saved, reduced product cycle time, and new business opportunities.
Want to Learn More? A detailed description and registration materials are available on our web site www.sla-learning.org/ROI. Or, if you have questions, please call the Strategic Learning and Development Hotline at 1-202-939-3627.
by Jan Sykes.
Jan Sykes is principal, Information Management Services, Inc.
Join us on March 29, 2001, for "I Told You I'm Worth It!: ROI and the Information Professional." This valuable videoconference will be moderated by Jan Sykes.
For more information,
contact Shelva Suggs(ssuggs@sla.org).
RSS
Feedback form
