ROX is the new marketing currency. A great deal can be lost if there is no attention in this area. This is a detailed measurement tool that shows the real return on investment for each new customer experiential touch point. As before the clear objectives of the overall business must be clear at the outset. 

EXAMPLES OF INTANGIBLE ASSETS (not exhaustive)

• Patented technologies, software and databases
• Brand recognition 
• Marketing rights
• Licensing, Royalties Agreements, Trademarks, Copyrights
• Domain names
• Workforce i.e. specialist know-how
• Trade secrets, import quotas
• Established customer and supplier relationships

THE WINS:

• Taxation strategy
• Attracting talent
• Commercial credit worthiness
• Increased business valuation
• Increased investor interest
• Selling your business: price and speed

HUMAN IMPACT (HR):      RETURN ON INTERVENTIONS

Any intervention should start with an analysis of the current situation in numbers and include interviews so as to provide a benchmark. Measurement tools can be so comprehensive that it is possible to pinpoint the root cause of a problem to a department or management style within a department. Whatever the action, it has to be improving a real priority problem that has impact on meeting business goals. It is important to understand the facts before implementing the wrong intervention.

In terms of poor diversity and inclusion as an example it could have many causes:

• Policies and procedures that do not fully engender diversity, fairness and inclusion
• The level of team engagement between senior management and front line team members
• Unintentional bias

These situations impact heavily on productivity and growth. With proper measurement we can focus in on supporting specific departments that have cultural issues or specific team members requiring coaching. From this point we can start to determine the best actions. The whole process involves several stages including gathering the performance data, interviewing, putting it into a model, conducting the interventions such as changing policies, work practices, or coaching. Then comes a review of new performance levels and adaptations where necessary. It is a continuous cycle, and interventions have to be monitored and measured for impact.

BOARD LEVEL BUY-IN

Board-level buy-in for business growth and transformation proposals was highlighted as the biggest barrier faced by senior management. The delegates said there is often a conflict amongst the board, some seeking change and those that want business as usual. It was evident that those organisations that are not active in this area are most likely to see the business decline or go out of business altogether.

Some of the companies in the consultation said that their company did not seriously look at all of these options for growth and would take steps to raise it within their organisation. There were however, great success examples in the room willing to share with others on how they think and operate and have experienced success.

Presenting, financial models, backed up with evidence and scenarios to the board is more likely to be achieve buy-in for new growth and transformation proposals.

CONCLUSION

All forms of growth must be considered, including:

• Continuous adoption of smart and relevant technology
• Leveraging talent with increased attention to team values and interaction
• Human interventions: modelling and measurement ROI
• Return on Experience activities ROX
• Intangible assets on financial statements