How do you use data and analytics to inform your relationship strategy and planning?

1 Assess your relationship maturity

The first step is to assess the current state of your relationship maturity, which is the degree of trust, value, and alignment you have with your stakeholders. You can use various frameworks and tools, such as the BRM Maturity Model, the Relationship Value Map, or the Relationship Portfolio Matrix, to evaluate your relationship maturity across different dimensions, such as strategic, tactical, operational, and personal. By analyzing the data from these assessments, you can identify your strengths and weaknesses, as well as the gaps and opportunities for improvement.

3 Develop your relationship plan

The third step is to develop your relationship plan, which is the roadmap of how you will achieve your relationship objectives. You can use data and analytics to design your plan, by considering elements such as relationship activities, resources, metrics, and risks. Relationship activities can include meetings, workshops, feedback sessions, or co-creation projects. You also need to consider the people, skills, tools, and budget you will need to execute these activities and how you will allocate and manage them. Additionally, you should identify indicators and measures to track and evaluate your relationship performance, such as satisfaction, loyalty, engagement, or value creation. Finally, it's important to consider any potential threats or challenges that could affect your outcomes and how you will mitigate or prevent them.

4 Monitor and adjust your relationship plan

The final step is to monitor and adjust your relationship plan, based on the data and feedback you collect from your relationship activities and metrics. You can use data and analytics to review your relationship progress, by comparing your actual results with your expected results, and identifying any deviations or discrepancies. You can also use data and analytics to improve your relationship plan, by applying the lessons learned, best practices, and recommendations from your analysis, and making the necessary changes or updates to your relationship objectives, activities, resources, metrics, or risks.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?