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Can risk management ever be a revenue generating activity?

It seems like selling risk management projects internally can be like pulling teeth. So what would it take for people to be willing to pay for risk management initiatives? We posed the question to a group of risk management professionals on LinkedIn in preparation for our upcoming Building a BCM Brand webinar. Here’s some of what they had to say:

All too often, selling risk management feels like “telling people things they don’t believe about things they don’t want to hear and asking them to spend money they don’t have”. So change the conversation to what they do care about and believe in…their performance goals.

It is human nature to view ourselves as survivors as we go through our day-to-day routines. Although we “know” better, we see ourselves as indestructible, we act as if we’ll live forever, and that really bad things happen to others, not to us. It’s an adaptive perspective that lets us live comfortably in an uncertain world. It is a biased, emotional risk assessment that is quite soothing. And, it makes selling risk assessment difficult, especially in tough economic times.

Like pulling teeth, we usually focus on the pain now rather than pain later mentality with risk management. Maybe another option is to present the value of systems and productivity improvements related to reviewing and updating your systems through your risk management program.

What it all boils down to is that you can’t sell people something they don’t want to buy so unless you can make risk management into a desirable product, nobody’s going to want to spend the money on it. At Lootok, we’re firm believers in using marketing and branding techniques to build an internal BCM brand that captures people’s attention and makes them want to get involved.

Join us for our upcoming webinar and learn more about using these techniques to build and implement a business continuity program that actually works.