Measurement and Analytics Maturity
We work with a lot of executives at midsize enterprises that are at an inflection point. And part of one of the things that we frequently do and we align with these organizations and start to figure out how marketing can best serve their organizations is we look at the maturity of their marketing teams, their sales teams kind of across a number of disciplines to see where they fit, where they might need to improve.
And one of the areas that we commonly see midsize organizations are less mature than we would like to see is in measurement and analytics. Now, that’s easy to understand because in a lot of cases, measurement and analytics is something that gets filed into the set it and forget it bucket. We set up our Google Analytics account, we connected our CRM and we were good to go. But when you find yourself in that inflection point, that moment of serious, impactful change within your organization, whether that’s like private equity, it could be a merger and acquisition, could be a leadership change, it could be a market disruption that it’s like, Wow, we have to get agile, we have to move. The next question that almost unilaterally follows those is what is our data tell us? And if your measurement and your analytics are immature, they’re not going to be able to answer those questions.
As organizations enter into that inflection point, a moment of growth, a moment of change, the importance of analytics can’t be overstated. You’re going to be asking more important questions, more complex questions that need complex answers. Thankfully, even though we see a lot of organizations are immature in this place, this moment, this inflection point where you’re aligning on what is the business do, how do we react, what are our goals? How are we going to attack the day and figure these things out?
It’s actually a perfect moment to take a look at your measurement and analytics because so many organizations try to build into those platforms in the software, into technology, into people before they really know what questions they should be answering at that moment of change. You actually have a great point in time to like start over with a new a blank sheet of paper and say these are the most important things that we need to know as an organization, whether that’s our sales numbers, the amount of leads coming into the organization, it could be traffic, it could be something completely unrelated to marketing that you’ve never imagined marketing my plug into before.
For instance, you might have a production schedule and you haven’t considered, Hey, if we fill up the pipeline this many months in advance, that’s going to keep our production schedule actually running at peak performance. But these moments of inflection, they’re great moments to take a look at those opportunities around your analytics and measurement and figure out how do we make this fit our organization today? How do we take a step back and ask ourselves, what do we need?
And then plan on what you’re going to build so that you’re not overinvesting in technology or you’re not under-investing? Right? It’s a moment to be able to say, how do we right size this so that we can mature the business in a way that fits where the business realities are taking us.
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