Trends for 2009: #12. The demand to build bulletproof cases to gain project funding

As economic times tighten the Accountants tend to rule the roost. It is a catch-22 in a sense, as I have already talked about previously in some of my other "trends for 2009" and random blog posts. The essence of a low-cost business strategy will help lead to long-term overall success. However, this also makes doing business challenging at times.

To succeed with starting a project in 2009, you are going to have to get it past your bean counters. This means that:

1. You will need to be VERY confident in the business benefits, and will need a good model to show how you will achieve those. To that end, you will may also need to point to 3rd party experts who can back you up on the likelihood of achieving the benefits.
   
2. You will need to have solid cost models, including IT, marketing, etc., etc., etc.. The departments that will have to spend to support your project will need to agree to the estimates you put forward, and indeed may have to sign-off on them for the CEO.
3. You will need to ensure that you build in future flexibility. With uncertainty comes the need to be flexible through the downturn, the eventual upturn, and every crazy thing in between.
   
4. You will need to have plans for substantial risk mitigation. In easier times, risks like project budget overruns or late delivery were all right given the speed that the economy was moving. That won't be acceptable in the foreseeable future.
   

What's a marketer to do in 2009?

• Spend a lot of time planning. In fact, set up cross-functional teams to help you do your planning,
• Get your teams trained in good planning methods, and
  
• Rely on standard and proven project management and financial models.

At the same time (and seemingly counter-intuitively), don't be afraid of being a Disruptor. Make your case and go for it. History has shown that being conservative in a recession isn't necessarily a good strategy. Grab an innovation and pursue it.

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.