The biggest challenge for businesses in 2022 is no longer a lack of business data, but paying attention to the right data.
You have data from different sources that conflict with each other. It is difficult under these conditions to make commercial and marketing decisions quickly.
- When was this data collected?
- What tools were used to collect this data?
- What parameters were used and how were they processed?
How do you convince all your team members to trust and trust a single data source?
How do you create a consistent process for collecting and sharing data to ensure everyone is on the same page?
Here’s how to align the entire company around a single source of truth…
To ensure the successful integration of their solutions with their customers, tech startups are increasingly using a process called “Champions Onboarding”.
It consists of selecting a person in each of the company’s relevant departments to participate in training and tailor-made work sessions.
These champions not only become heavy users of the tool, but they also preach the good word to their peers, who will be more inclined to listen to them rather than trust the outside vendor.
Apply this same principle in your organization.
If you want to unify data and improve the performance of different teams, bring in a representative from operations, customer service, sales, marketing, finance, and any other relevant departments.
These champions will understand what is happening in other departments and therefore it will be easier for them to agree on the relevant indicators to follow as well as the source of the latter.
Once you’ve created your data team, schedule a recurring meeting, such as bimonthly, to define the KPIs you need to track.
These qualitative and quantitative indicators should give you a clear picture of the actions that contribute to a specific outcome so you can focus on them.
Take, for example, the marketing department that starts a podcast in an effort to increase brand awareness:
- A qualitative KPI would be the type of topics covered in the podcast: potential customer issues, customer case studies, interviews with industry experts…
- Quantitative KPIs would be the number of listeners, traffic, number of leads and sales you get from the podcast.
For customer service, the relevant indicators can be:
- Customer retention rate.
- Customer lifetime value.
- Customer reviews and satisfaction ratings.
Keep in mind that these KPIs will change over time as your business grows.
80% of sales teams, 46% of marketing teams and 45% of customer services within the company use CRM (Source The Entrepreneur in You, 2022).
Once you’ve agreed on the KPIs you need to track, choose software that integrates with your CRM tool, but also with your other tools, like Google Analytics or Hotjar, for example.
Then you can start creating dashboards to give everyone an overview of how different marketing initiatives are performing.
For example, for customer support, the essential data to feed the dashboard could be:
- Service Quality: The impact of your service on customers through the ratings received, the satisfaction rate and the customer retention rate.
- Performance: The time it takes to resolve a customer’s issue.
- Productivity: The number of tickets closed per day by each team member
The data must be consistent and accurate to help you identify areas where you need to improve to deliver a better customer experience.
Your trace graph should also be easy to use to improve productivity by reducing the time it takes to access data and gain actionable insights.
During the assembly of the recurring meeting, it will be necessary to discuss the points of attention raised by the Data team. For example, about the type of data you enter into dashboards, the types of charts they want to have, or the functionality they want to use to customize their visualizations.
When implementing your dashboards, you will eventually get your finger on the right data and be able to make the right decision(s).
For example, you might feel like you have the best customer support on the market. However, the data obtained tells you that even if you resolve customer tickets quickly, your retention rate is lower than expected.
You will likely solve this problem by focusing on quantity, but also by improving training your customer support team members and providing your customers with relevant content such as video tutorials.
Conduct effective executive committee meetings…
The company’s executive committee can’t do much to look at the data when sales and revenue targets are not met or budget is exceeded.
Be proactive and plan a periodic review to keep him informed of what’s going on so he can make the right decisions at the right time, avoiding unpleasant surprises.
And since you’ve created a single source of truth for all your company’s data, it’s now easier for you to set up this type of meeting and thus align your entire company.
Author: Naier Saidane is an Entrepreneur, Podcaster and Blogger at The Entrepreneur in You
(c) Photos of Undue Deposit