Are you refreshing your B2B company’s go-to-market strategy (GTMS) because the market has changed, or your offerings have evolved? Maybe you’re launching a new product or service or building an entirely new line of business?
In the modern business world, there are certain terms and phrases related to data that are important yet poorly understood because they’re often misused or made to seem overly complex. I’ve clarified the meaning of some of this terminology before, and today I want to talk about one specific adjective that you’ve probably seen countless times on LinkedIn, company websites (including this one), and business publications from Forbes to Fast Company: data-driven.
On a scale of 1-10, how much does your company value customer advocacy? To tell you the truth, viewing customer advocacy as anything less than a 10 (major business priority) means that your company is likely missing out on opportunities to reduce customer acquisition cost, boost brand awareness, and increase revenue. That’s why customer advocacy makes up ⅓ of Revenue Operations, along with lead generation and sales conversion. It’s a vital part of business growth!
How to Create Customer Advocates
An effective Chief Revenue Officer is an integrator. A successful facilitator. A tech-savvy leader who is the champion of companywide objectives across all departments. Ultimately, a CRO knows when, where, and how to ensure anything and everything that affects revenue outcomes – all people, process, and data – is on track.
Last month, our team helped lead another edition of Midwest Manufacturing Advisers’ Tough Topics in Manufacturing webinar series, featuring speakers from Swip Systems, Mueller Prost, Evans & Dixon, and Atomic Revenue. In keeping with the theme, our panelists discussed manufacturing business strategies (both pre- and post-COVID), technology and remote working, employee safety, budgetary factors to consider in 2021, marketing and sales strategies, workplace environments, and more.
This is a truly remarkable client success story for many reasons, one being that Atomic Revenue, two PR firms, a media buyer, a creative agency, a tableau® building consultant, an internal organization of 10+ employees, and a board of directors all worked together to take Paper & Packaging Board’s marketing and educational campaign strategy to the next level. This collaboration and the objective were very different from the norm, as Paper & Packaging Board does not sell anything. It is an association that exists to influence the global community to use more of the industry’s products, with no revenue or profit to measure and track results.
If you’re considering undertaking a data project of any kind, you’re likely to see a lot of data terms that sound very similar but mean incredibly different things. To get to the heart of what you are trying to accomplish, it is essential to define "data," understand each of the different data terms, and learn the interpretations to track and measure what it is you need to know to grow your business with accuracy.
As more business moves online, people are working remotely and using digital tools more and more. The digital strategy conversation is increasingly relevant to today’s workplace. As a piece of this, it is important to understand where data comes from and if it is correct. More specifically, developing an understanding of what the data means brings strength to any digital strategy.