Why Data is the ‘Good Guy’ for Smarter Growth
by Marije Schreur, on Mar 24, 2022 11:45:00 AM
Why Data is the ‘Good Guy’ for
We need to talk about data.
To some, it is about as popular as a great white shark lurking in the waters off a sunny Australian beach.
To others, it is a crown prince or princess, to be served with reverence
A bit like the shark, data may need a better PR job. Perhaps the CIO is best suited to convince more people that data deserves a place at the palace.
Customers Think “Data is the Bad Guy”
You can understand why customers are wary of data.
Especially given all the headlines about data breaches with banks, hotel chains, airlines and other organisations, for example.
Consumers need only scroll through their social media feeds to realise their search activity is tracked, triggering adverts and popping retargeting ads in their faces.
When people sign up or buy online, they want to know their data and credit card details are totally secure. Organisations who do not take data protection or cybercrime seriously might not only lose customers but also face a huge hit to
Organisations need to be clear, open and transparent about all that - not just out of compliance but because it’s the morally correct way to be. It’s part of building that brand trust.
But the tension does not end there.
Another group of people is wary of data.
Leaders want to be the decision-maker
Organisations recognise the importance of data. That’s why there is such huge demand for it.
There is a lot to be said for making decisions based on facts rather than guesswork.
But whilst leaders demand data, they don’t want decisions to be taken out of human hands. They like data-driven activity but want to feel that key decisions are theirs - and not those of a machine.
CTOs are in a strong position to allay those fears and demonstrate how data is the ‘good guy’ rather than the shark from Jaws.
Talk About the Business Advantages
Data provides information, intelligence and insights.
Organisations can use it to improve operational efficiency, reduce costs, raise productivity and predict performance with greater accuracy.
Those are all very positive things for an organisation to achieve.
A RevOps solution using the inbound digital marketing strategy of Attract, Engage and Delight, helps to reduce the friction in the buying process.
It’s why HubSpot Growth Suite and Databox is the success combination recommended by 6teen30 Digital.
The solution allows you to align Marketing, Sales and Service to clear goals. This means teams can communicate, collaborate and perform better. This allows employees to prioritise service and value for the customer.
Marketing can track and monitor how effective their content is at attracting leads - and how well they are qualifying those leads.
Sales have the right resources to share value at the right time, to help the buyer make a decision.
Customer Service can measure how happy customers are - and
That’s good for collaborative teamwork, efficiency and performance. That’s good for guiding prospects and looking after customers.
Data can play a part not only in reducing costs but also in helping to generate revenue. There’s a strong business argument here to be put forward by tech leaders to their executive peers.
Feed Leadership Intuition with Information
Good quality data can provide a clear and accurate picture of customers and their behaviour. It can pave the way for value-added digital transformation. It can function as a virtual decision-maker in automated processes.
The whole field - with developments in AI, machine learning and automation - is becoming more and more complex. Used wisely it can be a game changer.
However, there are risks and there will be resistance from some quarters.
Senior leaders use their skill and experience to make judgement calls. They also rely on their intuition or ‘gut feeling’. Some may feel data is taking decisions out of their hands, so the issue needs to be treated carefully.
The smart play is to present information as a means to support the leadership in better, more informed decision-making.
“Here’s what the data is saying. It suggests we choose decision X. Is there a gut feeling in the room against that or in favour of another option?”
Data can start conversations. Data can influence discussions. Data can inform and support key decisions.
The way to design smarter growth is to be smart around data.