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Your Growth Investments Are Doomed

Why your marketing and advertising investments are wasting resources and what you can do about it.

Analytics is ultimately about winning, but since winners rarely begin their journey on top, we are really talking about the ability to learn how to win. So analytics at its core is about learning, which accelerates when we run experiments.

But don’t take my word for it…

The thing about learning, though, is that it requires us to collect data. Which is good news since you are already swimming in data, right?

Wrong.

You’ll find more often than not, your ability to translate data into breakthrough business impact is capped by the maturity of your data infrastructure.

But before I help you understand what Data Nirvana looks like, why you should aim for it, and tip you on actionable next steps… let’s first cover the symptoms and pains of a data problem. The idea being to better equip you to diagnose it.

Why?

Because data problems will often slip under the radar and become invisible glass ceilings. Their inherent complexity doesn’t help– gets ignored–more resources are wasted. 💵🔥😞

But winners learn to do better, and you’re a winner, right? So continue reading to establish a line of defence against vanity. 🔮

Work with Unvanity

Data problems can take many forms, but at their core, they are chaos within information systems. This creates scary situations where resources get deployed based on erroneous conclusions. Unnecessary operational inefficiencies consume finite resources. Innovation suffers.

But probably the most painful result of all is that the customer experience deteriorates. Eventually they leave shop for a competitor. You lose money… leaving growth on the table. Funds evaporate. You lose.

But since many of us spend our days down in the trenches, with that definition alone it’s hard to map the pain to the problem. There’s a boiling frog effect at play, so we need to learn to recognise the symptoms of a data challenge. Usually they can be seen in poor results… throughout every business devision in all phases of work streams.

Here are a few things to watch out for:

  • Conversion rate drops and CPA skyrockets at higher PPC spends
  • Inability to define ideal customer profile (ICP)
  • Customer journey disjointed and CRO efforts having little impact
  • Lack of clearly defined & evangelised goals with good KPIs
  • Too many customers churning or never activating in the first place
  • Sales team unable to prioritise leads effectively
  • Unable to understand market trends
  • Users don’t understand or use new products or features
  • Inconsistent customer experiences
  • Inconclusive experiment results
  • Redundant and repetitive tasks consuming time unnecessarily
  • Lots of engineering overhead with integrations and maintenance

The list goes on. Just understand that data problems cause bad things...

Customer-first companies need customer data infrastructure and programmatic capabilities. From strategy to implementation, we help you pick and deploy the right tools for maximum potential. Our data-first approach means an upgraded central nervous system for your company. Ensuring your organisation gains that all important competitive edge. Work with Unvanity

So what does data Nirvana look like / feel like?

Jokes aside. Something very profound happens when you get data right. Teams align and begin to focus resources more effectively. A unified understanding of who are your customers is established. New campaigns with enhanced programatic features and personalised experiences become possible. Solid learning takes place. Lean sprints get results. Your most important metric tracks North. Happy days.

Knowing when and how to level up your data infrastructure is an art as well as a science. It’s not easy work. Not always fun work. Requires technical expertise, business skills and domain knowledge to setup the proper systems. But well worth the investment once you are setup and sprinting with the new super powers.

How do I reach data Nirvana?

At a higher level, just how baking a cake requires that you bring together different ingredients in the right proportions to create the final *delicious result. Proper performance capabilities, cutting edge business intelligence, and data-driven growth also requires a delicate balance of ingredients and process. Most critically it needs good clean usable data. But data nirvana goes much further than that.

You’re ideally going to start by revisiting your business goals within a discovery phase. The idea here being to flush out early use cases and start mapping your data silos, essential for a proper planning!

This also doubles as an opportunity to fill in any gap in your documentation such as creating a proper tracking plan. Depending on the use case, you might also benefit from defining your Ideal Customer Profile(ICP) and their journey.

You can learn all this yourself–the hard way–or outsource it to an experienced service provider if you want to avoid the complexity and simply enjoy the end result… like eating out at your favourite restaurants for weeks. Yum.

Here’s what a discovery with us might look like. 🌮

Work with Unvanity

Wrap-up

The market is a-battle ground for companies of all sizes, all trying to carve out their own niches, disrupt traditional industry, become the next big thing… but to get there requires performance. Not the average kind.

This is increasingly becoming a data-driven challenge, and without the right infrastructure, companies are struggling to make the most of their resources in a way that earns them a competitive edge.

To become a cutting edge performance organisation, it’s critical to lay down the foundations for a learning culture to thrive… . which is about exceptional analytics instrumentation, governance, and applying information systems in a way that drives progress and makes sense for the business case.

If this sounds interesting and you’d like to learn how it applies to your case, come book a call or join our Slack and let’s chat.

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Vanity. The route of all ROI evils.

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Rhys Fisher

Rhys Fisher

Helping startups and brands unlock growth | Hiked but mostly flew across the Pyrenees in 2017 rock’n a high performance paraglider.

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