Unnecessary complexity is the #1 killer of analytical insight for marketing and sales.
“Just because you can count it does not mean it counts.”
“Measure everything, master nothing.”
“The more you measure the less you manage.”
Related Resources from B2C
» Free Webcast: Build Better Products by Identifying and Validating Your Riskiest Assumptions
We have all heard these before. So why do we tend to overwhelm ourselves with data?
Because when we truly don’t understand what drives our business, the tendency is to measure everything and construct a version of reality that best represents our understanding. Unfortunately, most companies never vet these representations and this leads to underwhelming or misleading results. It also leads to lack of accountability. It’s easier to hold yourself accountable when you are focusing on fewer goals.
Best practices consistently recommend that you should focus on no more than 5 to 7 key metrics that are most important to driving and monitoring the health of your business. Remember, unnecessary complexity is the #1 killer of analytical insight. Big data, little data – just focus on the right data and do the best you can possibly do to calculate, report, measure and improve the integrity of that data.
Once you have your handle on your main key metrics, distribute them to everyone on your team. Allow the team to self-serve the data, right inside of your CRM system. Yep share it all and do so in a way that is educational. Make your reports and data visualization easy, fast and impactful. For if it is not, no one will care to look at it and you will have wasted your time.
Most of the metrics that you measure are directly impacted by individual behavior. If people can understand the impact that their behavior has on their business and your business as a whole, you will have a much better chance of impacting behavior change. In the end, that is usually the goal to improving performance – to elicit and sustain change. And change begins with education and understanding.
So don’t make more insight complex. Keep it simple. Your team will thank you for it.