How we boosted the top and bottom line.

A recent project for a small-cap public company was a resounding success! As a result of our engagement, several data sites and sources were reduced, and efficient automated workflows were implemented. These changes led to cost savings. Moreover, the improved marketing data resulted in increased sales. In summary, we achieved a win-win situation by boosting both the top and bottom lines, reducing costs, and enhancing productivity. The project ultimately resulted in a positive outcome for both our team and the client.

We were given the chance to review the entire data lifecycle of their organization. The company’s core business involves selling its products either directly to consumers (D2C) or through business-to-business (B2B) channels. The primary objective of the project was to identify cost-saving opportunities and enhance operational efficiencies.

The initial phase of the project involved understanding the “who, what, where” aspects of their data management. We identified issues with their marketing programs, particularly in tag and campaign management. Integral data was being lost as it was passed between multiple parties. By modifying this process and prioritizing data integrity and validation, we gained a deeper understanding of both prospects and customers. Notably, their new customer conversion rate increased from 1.75% to 4.4%. This improvement was attributed to a better comprehension of their target audience, leading to more responsive conversations and significantly increased conversions.

The client utilized a combination of cloud-hosted services and data, as well as on-premises infrastructure and a proprietary cloud solution provided by a single vendor. This typical structure underscores the importance of data accessibility in achieving efficiency. While an API may promise access to all data or fields, this is often not the case. These details can create significant gaps between what is and what could have been. In this instance, we encountered situations where numerous “workaround” solutions were necessary to compensate for shortcomings in either the provider or their connectivity. One crucial aspect we emphasize is the need for a plan to address unexpected data or responses. If such issues occur frequently, they are not exceptions but rather the norm. After resolving these challenges and establishing a reliable and consistent workflow, we uncovered our next challenge to address.

The next challenge was the sheer volume of data being saved and maintained. There’s a general consensus to collect as much data as possible. However, there’s also the risk of having too much data. Regardless of how inexpensive data storage is, it’s not the total cost of ownership (TCO), which includes cloud servicing contracts, security, processes, and headcount required to maintain the data. These costs often go unnoticed. Additionally, querying larger-than-necessary data sets can reduce responsiveness and productivity.

To address this, AI tools were integrated into the client’s solution. Unlike the common practice of simply implementing AI, we focused on specific areas where Artificial Narrow Intelligence (ANI), also known as Narrow AI, could be effectively utilized. These applications included enhanced workflows, exception identification, and improved fraud detection.

Our initial six-week engagement aimed to identify the gap between the client’s marketing team and the data being reported. We proposed a comprehensive review of the entire process. However, there was significant resistance from the IT department, CTO, and CIO. To address this, we engaged in a dialogue with them, reiterating our commitment to improving the company’s overall performance rather than pointing fingers. We emphasized that our goal is to increase the bottom line, as this benefits everyone involved.