A Data-Driven World

Data is any SaaS company’s bread and butter. It’s how we know what our customers want, what they love, and what we need to do better.

Its advancement over the past ten years has been both creeping and radical. The sheer volume of information available to use has increased, allowing us to evolve into more customer-centric organizations. 

On the flip side, we often see companies with so much raw data, they don’t know what’s important and what’s just noise. Or they don’t know how to mine that data for insights to drive revenue. 

The constant advancement of the data and tech landscape has always been seen as a benefit. Especially for businesses looking to do more, and do it better and faster.
However, there are also ways in which it has harmed productivity and efficiency. Bloated tools stacks, tech debt, and data you don’t know what to do with, for example.
 

Here, we’ll talk about working in this digital world growing ever more digital and how to keep your company on the right side of it all.

 

Your Tech Stack   

 
At Go Nimbly, we help manage a lot of tech stacks. Companies come to us looking for support in this area as the constant onslaught of cool new tools tends to result in tech stack bloat.
 
A huge part of successful tech stack management is integration. Making sure all your tools work efficiently and recommending the best options to fill any gaps.
 
For SaaS companies in particular, the temptation to implement tools to perform every function and solve every problem is strong. It’s also understandable. As far back as I can remember, people have been fantasizing about having robots drive their cars and make their breakfast. So if they can make our jobs easier, what’s the downside?
 
The problem arises when, instead of looking for solutions to problems, you’re seeking out problems to justify solutions. If you’ve ever seen an infomercial where the actors dramatized a laughable, supposedly common problem, then you get the idea.
 
Technology today is so cool and well-dressed, we want to need it. Still, that doesn’t mean we do. Giving in to this solution-first thinking results in a stack full of tools that don’t work well together and teams frustrated by a lack of enablement.
 
Instead, identify your gaps first. What friction is your customer feeling and what is the best solution?
 
That said, if you are going to implement a new tool, providing thorough on-boarding and training is critical to its success. Enable your people. Please. 
 

Harnessing Your Data’s Power

 
Sometimes you know exactly how you’ll use certain insights to drive revenue. Firmographic, technographic, and intent data will be leveraged to target accounts. 
Social media and psychographic data will provide Marketing with insights to help them personalize the buyer journey. 
 
User data will tell Customer Success what steps they need to take in order to retain your customers and prime them for expansion.
However, there is plenty of noise in between. At times, that noise makes it difficult to discern which information is actionable. 
 
We’ve talked to plenty of operators frustrated with their company’s data management strategy. Often, so much raw data is collected without a plan for how to synthesize and leverage it. If you don’t practice good data stewardship, it becomes overwhelming. The real insights become hidden amongst the chaos. 
 
Being hyper-aware of the types of data needed to drive revenue is key to sidestepping this problem. Just as important is ensuring you have processes in place that enable your team to use the data they have to improve your product or service.