Data You Can Use: Analytics for the C-Suite With Blake Harrison, VP Digital Nutrisystem
June 16, 2017 -
The Napkyn Analytics Team is back from a whirlwind week in the Windy City where we attended the Internet Retailer Conference and Exhibition (IRCE) with our friends at Google and Nutrisystem. Jim Cain, CEO at Napkyn Analytics, and Blake Harrison, VP Digital at Nutrisystem, were invited to present on a subject that is near and dear to all of our enterprise clients – how to bring high quality data into the executive boardroom for C-Suite decision making.
It seemed this was a hot button topic for many conference attendees as well, as the presentation was delivered to a packed room of hundreds of marketers, IT and finance professionals, and executives … and probably a few vendors as well but who’s counting.
We can’t get into the details here but, if the topic is of interest to you, LET US KNOW because there may just have to be a backed-by-popular-demand webinar in the future. Or you may just be lucky enough to get Jim on the phone to discuss his favourite subject with you one-on-one.
Here are a few best practices and takeaways from the Napkyn Analytics team on this subject:
The problem (we see often)
Most enterprise businesses have no single source of truth for marketing.
- This means that business teams do ‘trickle up’ reporting
- Executives rely on a different set (and often large quantity) of reports than their business teams (ie BI, DataMart, Financial Reporting)
- Most marketing teams have to trust their vendors for reporting. (This usually means your advertising agency is writing its own report card … )
This ultimately results in distrust in data, which can make it difficult to get C-Suite buy-in for decision making and investment in marketing efforts.
- Designate a single tool of record for all digital marketing (usually Google Analytics 360 or Adobe Analytics with a well developed Tag Manager of record.)
- Get the entire C-Suite to align on requirements and naming conventions. (This is difficult, especially if politics get in the way or there are many stakeholders involved. Hiring a third party expert in executive consultation and enterprise measurement strategy can be the best way to achieve internal alignment and by in.)
- Get decision-makers to agree that they will trust revenue numbers in reporting and use them for decisions. (This means verifying data quality across the business, with core metrics aligned with financial records.)
- Rebuild your entire analytics tech stack against C-suite requirements, ensuring that it can be properly governed and maintained.
- Find an agency partner that knows what they’re doing. (Oh hi there … we just so happen to be really good at this stuff.)
- Have a key executive stakeholder who is invested in success
- Understand business + technology requirements from the top down
- Align requirements across marketing, IT, and finance
- QA QA QA QA QA and then QA again
- Plan for governance and scale
Questions or comments? Undertaking a similar initiative and want some helpful advice? Give us a shout!