- “ How do I know what data I should be looking at?”
- “ Once I have the data, what am I supposed to do with it?”
There are many differing opinions on this but I will explain how I handle these questions.
How to Pinpoint Actionable Data
In the digital space that my company serves its customers in, there are many different metrics that can be delivered. We serve hundreds of automotive dealerships as clients and on average the management has to login into close to 20 different accounts to get their reports. That in and of itself is a staggering number but it will also depend on when the reports are ready, size of reports downloaded and the time it takes to see how each report may impact another.
I want to focus on pinpointing the right data from the overall report. One of the first things I would do would be:
- Get on the phone with the vendor and ask them which metrics do they feel are the most important
- Make sure that the vendor explains WHY these points are the most important
- Ask the vendor what they feel you can do on your end to impact these data points in a positive manner.
The reason I emphasize asking the vendor because this also will test the transparency of your vendor and their data. I have seen reports that are given to our clients and it is very easy for a vendor to hide behind data overload to prove their worth. By asking the vendor what as the actionable data points you should focus on will show that you have partnered with the right vendor because they are willing to help.
How to Execute on Actionable Data
This is an area where education, coaching and training are necessary. It is very hard for someone in a business to sort through the data, create a plan on how to use the data and then train the team on a new strategy. Many times the person deciphering the data does not possess the same skill set or authority to implement the changes.
You may have to partner with an outside company to come in and help to train the team on this new strategy or help to create an internal process to help implement new strategies based on this actionable data. Too many time I have seen companies know what to do but fail to execute because they are under pressure to hit numbers. Making long -term changes to business take time and effort as well as an outside voice.
I have a client who is having me address his staff because, “I have been beating this drum for awhile but hearing it from someone outside of the company will have a bigger effect.”
Getting help/transparency from your vendor to understand the data and then getting help to implement changes is the most impactful decision your company can make in order to succeed. Having data without action is just as bad as action with no data. Neither one will lead your team to achieve your goals.
If I can be of service please reach out to me at www.pcgdigitalmarketing.com
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