The importance of data in your IT company's business strategy

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Data and indicators do not exist by chance: they should be the main guides for a good commercial or marketing strategy . Some managers, however, still get lost in results-oriented management by focusing only on micromanaging the team.

This is a big mistake, as it is a counterproductive activity. The manager's role is to ensure that the team has the best conditions to carry out their work , and not to control everything down to the smallest detail.

In this scenario, data proves to be a great ally. From the moment you set c level executive email list to be achieved, you need to ensure that you can monitor the progress of each one of them. This is done through numbers, which are the quantification of the work carried out.

How do you know if your team is on the right track? Data. These are the parameters that indicate whether the actions taken were effective or need to be replanned.

How data can be used in your business strategy
For those who work with commercial or marketing strategy, it is important to understand your consumer's journey and, above all, master your sales funnel .

When you have these two tools at hand, it becomes easier to understand the data from each one. It is from this understanding that your team will be able to follow the lead from the first contact with the company until the sale is closed.

With the consumer journey mapped and the sales funnel defined, it is possible to analyze the conversion percentage at each stage . From this quantitative analysis, qualitative hypotheses can be created and analyzed.

For example:

01 – If you are attracting a large number of visitors to your website, how many of them are reaching the sales team?

02 – Of the meetings held in sales, how many are turning into new revenue for the company?

In the first case, one of the hypotheses could be the lack of conversion materials, for the visitor to leave their name and email and, from there, enter an inbound marketing nurturing flow .

In the second case, the problem may be the sales pitch: is it aligned enough with the persona ? Does it address the right pain points and present the best conditions for closing?

These analyses can only be done when sufficient data is available.

Having a BI – business intelligence professional or team helps a lot in the routine. After all, this person will be ready to deliver robust reports that answer the questions asked.

3 Key Indicators to Start Tracking Today
If you don't yet have a well-structured data monitoring system in place within your business strategy, we suggest 3 indicators to start monitoring. They are:

01 – CAC – customer acquisition cost

This is the indicator that will show whether your company is spending too much to acquire a new customer, or whether it is within the average. To calculate CAC, simply use the formula:

02 – Total cost of customer acquisition / Total new customers

But it is important to benchmark your area and also understand how much your company can invest to convert new customers.

03 – SQL – sales qualified leads

There is no point in the marketing team delivering several leads to the sales team if they are not qualified enough.

Within the funnel, it is important to differentiate: how many leads can actually be worked on, with a chance of being converted into customers?