#FutureReadyHealthcare
8 Disconnects That Are Killing Your Strategy (Part II)
30 May 2015
Last week we learned about the first four disconnects. As a reminder, disconnects are not something people talk about, but they are literally destroying robust business strategies every day.
Let's continue with the next four areas:
Data - Integrate and win
Disconnect: The company leverages internal, self-generated data and purchases external data with the plan of leveraging both. Data integration issues occur however producing a scenario with incorrect data, slow reporting, and no insights from analytics (see more on that below).
Solution: Data companies are focused on their data (is it correct and robust?), not on your ongoing business or executing your strategy. Work with a service provider or consultancy with the expert core competencies that translate business needs and helps synthesize and integrate multi-channel data for you to benefit from it.
Disconnect: The company leverages internal, self-generated data and purchases external data with the plan of leveraging both. Data integration issues occur however producing a scenario with incorrect data, slow reporting, and no insights from analytics (see more on that below).
Solution: Data companies are focused on their data (is it correct and robust?), not on your ongoing business or executing your strategy. Work with a service provider or consultancy with the expert core competencies that translate business needs and helps synthesize and integrate multi-channel data for you to benefit from it.
Analytics - Surface insights to make decisions faster
Disconnect: Above and beyond market research, brands are in desperate need of insights for campaign optimization. Unfortunately, business needs are sometimes not translated to data capture needs or integrations are not reliable as mentioned above. Brands that do not generate continuous real time insights will simply not realize their full potential.
Solution: Work with an unbiased analytics partner that will provide fast, objective, but powerful insights to help you make better decisions quickly. Market research is great, but not enough - you need more 'on the ground' analytics in order to help you optimize campaigns in an ever evolving digital world.
Disconnect: Above and beyond market research, brands are in desperate need of insights for campaign optimization. Unfortunately, business needs are sometimes not translated to data capture needs or integrations are not reliable as mentioned above. Brands that do not generate continuous real time insights will simply not realize their full potential.
Solution: Work with an unbiased analytics partner that will provide fast, objective, but powerful insights to help you make better decisions quickly. Market research is great, but not enough - you need more 'on the ground' analytics in order to help you optimize campaigns in an ever evolving digital world.
Relationship/Customer Experience - Outperform competition with better service
Disconnect: When a customer registers or opts-in for a program, issues may occur with follow up communications, timing, messaging that is not associated to their segment, or other inconsistencies outside of your strategy.
Survey your customers using Net Promoter Score (NPS) methodology. If that cannot be done or in addition to that, work with a partner to compare your program's customer experiences vs your competitor's program to get a sense of how your strategy is translating in real life.
Disconnect: When a customer registers or opts-in for a program, issues may occur with follow up communications, timing, messaging that is not associated to their segment, or other inconsistencies outside of your strategy.
Survey your customers using Net Promoter Score (NPS) methodology. If that cannot be done or in addition to that, work with a partner to compare your program's customer experiences vs your competitor's program to get a sense of how your strategy is translating in real life.
End-to-end - Protect your investments by looking under the hood, you'll be surprised
Disconnect: A new strategy is introduced, but then the results are not achieved because of breaks somewhere in the process of:
translation to tactics
execution across channels
feedback loop to optimize strategy
Solution: A high-level roadmap can provide opportunities to focus in across siloed environments. Priorities should be given to areas that are customer-facing first in order to make greatest impact sooner.
Disconnect: A new strategy is introduced, but then the results are not achieved because of breaks somewhere in the process of:
translation to tactics
execution across channels
feedback loop to optimize strategy
Solution: A high-level roadmap can provide opportunities to focus in across siloed environments. Priorities should be given to areas that are customer-facing first in order to make greatest impact sooner.
This is by no means a comprehensive list, but these 8 areas provide you with an initial framework to identify and repair the disconnects and help you disrupt your market, no matter how rocky the road is.
Vladimir Castillo is the Chief Marketing Officer for The Encima Group. Vladimir's unique background includes over 15 years of strong brand marketing strategy, analytics, operations, multichannel, and digital experience. As CMO, Vlad is responsible for leading Encima's Business Development, Brand Marketing Strategy, and Product/Service Offering Development areas. His focus is on making clients happy by helping them succeed.
