As fate would have it--and as you may already know--we are also living in a time where your customers demand an experience of the highest caliber; a red carpet, know them better than you know yourself kind of thing.
First, the fact remains that companies often opt out of making the effort to own their data in the first place. For younger or smaller companies, perhaps the idea of gathering all this raw data seems daunting—or just not worth the time and trouble, as there’s never a guarantee that the work will pay off in a way that’s hugely satisfying in the moment. We can say from experience, though, that this is a mistake; we’ve seen firsthand how agonizing it is for a company to go back and fill in these blanks later, once they’ve completed rounds of funding or hit other big milestones. Just because the impact of successful data stewardship isn’t always readily apparent at the get-go, doesn’t mean it’s something to be brushed aside.
Cue ominous music.
You can have all the information in the world, but if you're not sharing it freely and efficiently across your internal teams, it loses a lot of its power, not to mention the fact that it often causes unnecessary redundancies along your customers' journey. For example, your marketing team knows all there is to know about each of your customers and what they're consuming, but if they're not passing that data along to sales and customer success, your customers might be asked for the same information several times. I think we can all agree this is not the experience you want them to have.
Owning and understanding data allows us to provide the kinds of content people want, content that converts faster, and this means more revenue.
1. Take a subset of 10 customers with whom you have a good relationship.
2. Gather information through data survey questions.
3. Compare your raw data to this new, verified information and determine % accuracy.
If you haven’t built customer relationships yet, use information about your own company to complete this exercise.