Best Practices for Activating Reporting Metrics with ARISE™

This latest article on the ARISE™ GTM operating model discusses reporting and how it benefits your growth and go-to-market strategy. We focus on using data to activate your GTM for the best results.

Activating data from metrics involves transforming raw data into actionable insights that can drive strategic decisions and improve business outcomes. 

When you first approach building your strategy, it should all be based on the data to hand - that you create from research if you're not trading or from research and CRM data if that's available to you.

Activating reporting metrics best practices 

At BIAS, we believe that a strong foundation for GTM, whether you're kicking off or refreshing the current playbook, consists of three things:

1. How you communicate your value, proposition and outcomes, and to who
2. How you enable your buyer or buying teams to buy from you
3. How you plan to onboard, upsell and or cross-sell your customers 

Therefore, the 151 standard KPIs in ARISE™ are included to support this approach.

Here are some best practices for activating data from metrics across the organisation focusing on marketing, sales, customer success, people, and finance:

1. Align Metrics with Business Goals

Ensure that the metrics you track are directly aligned with your business objectives. This alignment helps to focus on the most relevant data points that drive strategic decisions. 

Remember, the purpose of data and metrics is to show you the way forward rather than to support the strategy as you first designed it. 

If you begin with an inherent bias, you will never truly understand how to assess the data and pivot strategically.

• Marketing: Track metrics like Cost Per Lead (CPL), Customer Lifetime Value (LTV), and Conversion Rate to understand the effectiveness of your campaigns and optimise marketing spend.
• Sales: Focus on metrics such as Lead Quality, Sales Cycle Length, and Customer Acquisition Cost (CAC) to improve sales strategies and performance.
• Customer Success: Monitor Customer Satisfaction (CSAT), Net Promoter Score (NPS), and Churn Rate to enhance customer retention and satisfaction.
• People: Use metrics like Employee Turnover Rate, Time-to-Hire, and Employee Satisfaction Score to improve HR processes and employee engagement.
• Finance: Track metrics such as Monthly Recurring Revenue (MRR), Gross Margin, and Operating Expenses to ensure financial health and strategic planning.

2. Automate Data Collection and Reporting

Utilise tools and software to automate data collection, organisation, and reporting. 

In the case of ARISE™, HubSpot and specifically defined third-party tools can be seamlessly harnessed to adopt, adapt, and improve the baseline reports we provide.

By identifying the best platforms tech companies can use across marketing, sales, success and product management, we can enhance your reporting to include user data, which is especially relevant for PLG companies.

Having done the upfront work on your behalf reduces manual effort, ensures accuracy, and provides real-time insights.

• CRM Systems: Use CRM systems like HubSpot to automate data collection and create custom dashboards for real-time tracking of KPIs.
• Customer Success Software: Implement customer success platforms like Gainsight,  ChurnZero or HubSpot Service Hub with Arrows to track and analyse customer success metrics, including onboarding automatically.
• Financial Tools: Leverage FP&A tools to automate financial data collection and reporting, ensuring timely and accurate financial insights.

3. Create Custom Dashboards

Whilst out-of-the-box reporting can break down elements of your overall performance, it rarely helps you tell a story. 

It is essential to develop custom dashboards that visualise key metrics and provide a comprehensive view of performance. 

ARISE™ addresses this by delivering data hygiene dashboards, account-focused customer acquisition reports, and more. This helps quickly identify trends, issues, and opportunities while aligning sales and marketing.

• Sales Dashboards: Create dashboards that track sales performance by rep, sales activities, and funnel reports to monitor and improve sales processes.
• Marketing Dashboards: Create dashboards to track campaign performance, ROI, and customer engagement metrics to optimise marketing strategies.
• Customer Success Dashboards: Develop dashboards that monitor customer health scores, onboarding progress, and support ticket resolution times to enhance customer success efforts.

4. Analyse and Interpret Data

It's important to go beyond tracking metrics by analysing and interpreting the data to uncover patterns, trends, and insights. 

I previously mentioned that being able to tell stories from the data is critical to decision-making and forward-thinking.

Use various analytical methods to understand the implications of the data; these can include, but should not be limited to:

• Descriptive and Comparative Analysis: Use these methods to compare performance over time and against benchmarks.
• Predictive Analytics: Implement predictive models to forecast future trends and outcomes, helping in proactive decision-making.
• Data Visualisation: Utilise charts, graphs, and other visualisation tools to make data more understandable and actionable.

5. Implement Data-Driven Actions

Use the insights gained from data analysis to inform and implement strategic actions. 

This involves making adjustments to processes, strategies, and initiatives based on data-driven insights.

By adopting a mantra of a Data-Driven approach, you breed a culture of operational excellence, continuous improvement, testing and experimentation.

The more data-driven your decision-making is, the higher the likelihood of reducing CAC, churn, and sales cycles whilst increasing revenues and expanding the user base. In short, you optimise the customer journey. Things to consider are:

• Marketing Adjustments: Optimise marketing campaigns based on performance data to improve ROI and customer engagement.
• Sales Strategy: Adjust sales tactics, coaching, and training based on sales performance metrics to enhance sales effectiveness.
• Customer Success Initiatives: Tailor onboarding processes, support strategies, and customer engagement efforts based on customer success metrics.
• HR Improvements: Refine recruitment, training, and employee engagement programs based on HR metrics to improve workforce productivity and satisfaction.
• Financial Decisions: Make informed financial decisions regarding budgeting, investments, and cost management based on financial metrics.

6. Foster a Data-Driven Culture

Further develop a culture of data-driven decision-making within the organisation. 

Provide training and resources to help employees understand and utilise data effectively.

• Training Programs: Offer training on data analysis tools and techniques to enhance data literacy across the organisation.
• Stakeholder Engagement: Regularly share insights and progress with key stakeholders to demonstrate the value of data-driven decisions and gain their support.
• Continuous Improvement: Foster a mindset of continuous improvement by regularly reviewing and refining metrics, processes, and strategies based on data insights.
  

By following these best practices, organisations can effectively activate data from their metrics, leading to improved decision-making, optimised processes, and enhanced business performance.

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