While having the right tools are essential, Guarav Chhaparwal, founder of Datahash, has made a compelling case for prioritizing the right people who can navigate the complex interplay of data and business dynamics to drive marketing success.
In an equally compelling insight, Chhaparwal, who buttressed the need for businesses aiming to stay competitive and relevant to integrate data analytics during the recently concluded ADMARP Day webinar, asserted that having the right people is, in many instances, more crucial than having the right tools or using them correctly.
He said “While having the right tools is essential, using them correctly is equally crucial. Yet, success isn’t solely about possessing the right tools or employing them effectively. Even with the optimal tools, analytics in-house, and the right skill set, the paramount factor is having the right people. Beyond just handing over tools or acquiring them, success hinges on individuals who possess a deep understanding of data..”
“In this regard, it’s vital to have individuals not just at a surface level but possessing a high level of business visibility. It’s not merely about tool proficiency but ensuring that the personnel understand the nuanced dynamics between market, online teams, and offline teams. The emphasis ultimately rests on the synergy between strategic metrics, effective tools, and individuals who not only understand data but also possess a profound understanding of the business landscape,” he added.
But how does one navigate the landscape of measurements? Which metrics warrant tracking? In tools like Google Analytics, the plethora of metrics, from clicks and match types to page views and time spent on pages, can be overwhelming.
In this regard, Chhaparwal notes that the challenge lies in discerning the vital metrics. Choosing metrics requires careful consideration.
“Not all data is equally important or useful; hence, the importance of meticulously selecting metrics,” he said during the webinar’s masterclass themed “Data-Driven Decision Making: Leveraging Analytics for Marketing Success”.
Chhaparwal also advocated starting with the most vital metric for your business, such as revenue on investment.
He argued that this balanced metric considers both the top line and investment, and ensures a holistic perspective that goes beyond mere top-line growth.
Particularly in an era that demands efficiency, which has prompted a shift from unlocking growth to driving efficiency in marketing strategies, the Datahash founder pointed out that the overarching idea is to identify KPIs that truly influence efficiency and balance.