How B2B Software Vendors Can Help Their Customers Benchmark

Harvard Business

Mainstream software companies are beginning to hold “ data mirrors ” up to their customers, allowing scoring and benchmarking of their customers’ strategies. One of its business units, Fieldglass, provides insights and benchmarks to customers on external workforce management.

Latest NPS Benchmark Scores Reveal Customer Experience Shifts

1 to 1

Business leaders use a variety of metrics to gauge the financial health and performance of a company. One of the most popular metrics used by marketers is Net Promoter Score (NPS), a simple loyalty measurement to gauge customer satisfaction and likelihood to recommend. Last week, I had a chance to speak with Satmetrix data scientist Brendan Rocks about the results from the company''s 2014 Net Promoter Industry Benchmarks reports.

Hidden sources of better supply-chain performance

McKinsey

High-level benchmarks often obscure paths to operations improvements. New data and metrics that tap underlying performance dynamics offer better visibility. Our Insights

Retail Bank Operational and Digital Leaders Reap the Rewards

BCG

BCG’s Retail-Banking Excellence benchmarking study (REBEX) profiles the operational and digital practices and performance of 20 of the world’s leading retail banks, a group of 40 institutions chosen for their size and the strength of their capabilities. Article Tuesday, May 10, 2016.

Asset Management – Valuation (Part 2 of 4)

Tom Spencer

This will have a pronounced effect on leverage and coverage metrics. As a secondary metric, large asset managers with diversified businesses may also be looked at from a free cash flow yield perspective. Characteristics of Asset Management Firms.

Stop Chasing Likes: Social Media Success Start with Strategy

Joellyn Sargent

They crave “likes” as a benchmark for perceived success. Metrics Shift. As market environment evolves, the nature of your metrics will shift. Metrics don’t work in a vacuum. Metrics need to move in tandem with the world in which your business lives.

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Idiosyncratic

Seth Godin Blog

If we think hard about the definition of 'better', it's pretty clear that on almost every measurable performance metric, the Honda is a far better car. So, which is more interesting: A vintage 1964 Porsche or a new Honda Civic? Which is a better car?

Wearable Technology in Healthcare

Tom Spencer

While current devices can capture important vital signs and other fitness metrics, their ability to diagnose and treat chronic conditions is currently limited. Based on a recent study by Global Industry Analysts , the global market for wearable medical devices is projected to eclipse $4.5

A Stunningly Simple Secret to Improve Sales Success

Joellyn Sargent

As a result of this exercise, Mary developed a short checklist to benchmark prospects against her “ Ideal Client Profile.” Measuring Marketing Success: 10 Metrics that Matter.

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Why Your Strategy May Fail

LSA Global

Make sure your success metrics align across regions, functions, business units and teams if your strategy needs synergy to succeed. Develop clear success metrics to track progress toward strategic goals. Be transparent as benchmarks are met or not.

How to Assess Entry-Level Product Manger Positions

Tom Spencer

There is no clear benchmark for which category a given company falls into. An understated metric for assessing whether you want to work on a team is determining the level of investment the company is making in that team.

How One Company Got Employees to Speak Up and Ask for Help

Harvard Business

They would continue tracking their normal metrics but, for the next few weeks, these metrics wouldn’t impact teams’ compensation. No market research or benchmarking data would have suggested it. Peter Mason/Getty Images.

Should a CEO’s Bonus Be Based on Financial Performance Alone?

Harvard Business

According to its annual report, those include financial metrics such as “attributable profit; underlying EBIT (earnings before interest and taxation); and total shareholder return (share price and dividends which are assumed to be reinvested).” Corporations are now taking a further step beyond objective metrics, which can be financial and nonfinancial, to include subjective measures — tagged as “soft.”

The Most Common Reasons Customer Experience Programs Fail

Harvard Business

Most customer experience (CX programs) are positioned as strategic, but quickly veer away from business objectives and become simply about tracking CX metrics. They have “soft” metrics rather than real business goals. Mistake #2: Linking metrics to business outcomes. There is place in the world for performance benchmarking survey metrics like net promoter score (NPS).

B2B Salespeople Need to Act More Like Travel Agents

Harvard Business

By 2012, our research shows, nearly 60% of a typical B2B purchasing decision — researching solutions, ranking options, benchmarking pricing, and so on — was happening before the buyer even had a conversation with a supplier. The content is highly prescriptive, guiding customers through the stages of decision making, assessing their readiness to provide wellness benefits, and walking them through benchmarking exercises and even RFP builders.

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How to Make Your Post-Merger Reorg a Success

Harvard Business

Over the past year, we carried out an online survey of 2,500 reorgs (you can still complete the survey and benchmark your reorg here ). see business results suffer more during the organizational changes (over half of M&A-driven reorgs see significant and very significant drops — of more than 5% and more than 10%, respectively — in the operating metrics of the units affected, as compared with 33% for other reorgs). japatino/Getty Images.

In Praise of Extreme Moderation

Harvard Business

Young Millennials, driven to distraction and depression by nonstop, constantly comparative online benchmarking, can’t unglue from phones-as-performance-measuring-devices. Daniel Grizelj/Getty Images. Why does it seem like you can’t throw a paper airplane in some offices without hitting a person who is training for a marathon, planning a 10-day silent meditation retreat, or intending on scaling Kilimanjaro? On top of working 24/7 for a company that doesn’t pay overtime?

4 Ways to Improve Your Content Marketing

Harvard Business

With online technologies and targeted lists, this should be a cost-effective tool for separating the suspects from the prospects, accelerating customer conversion through the sales funnel, and, equally important, optimizing “data-driven marketing” by tying each piece of content to metrics like opens, reads, downloads, and so on. HBR Staff/Chris Minerva/Getty Images. In the past decade, content marketing has become a widely established practice.

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Why Aren’t Black Employees Getting More White-Collar Jobs?

Harvard Business

Using an EEOC database of employment data by race, gender, and job classification, it assesses management diversity with a ratio of minorities’ representation in management to their representation in non-managerial professional levels, a metric that Ascend calls executive parity index (EPI). To continue to improve, we need benchmarking of employer-reported public data to help identify corporate leaders in diversity. Hayon Thapaliya.

China's Iron Ore Inventories Post Biggest Decline in Two Years; Yuan Observation; Pro-Cyclical Stupidity

MishTalk

Iron ore inventories at ports in China fell below 100 million metric tons for the first time since February as the holdings in the world’s largest buyer dropped for a seventh week to post the longest run of declines in two years. China''s iron ore inventories have plunged like a rock as has the price of iron ore itself. Bloomberg reports Iron Ore Holdings at China’s Ports Drop Below 100 Million Tons.

What the Companies on the Right Side of the Digital Business Divide Have in Common

Harvard Business

This difference in strategy means that business users are more likely to have access to a consistent set of up-to-date metrics for decision making, and the organization can generate predictions about their business from data they collect. Automotive telematics can capture metrics such as the frequency and length of trips and unsafe driving behaviors like hard braking and rapid acceleration.

5 Questions That Will Help You Stay Ahead of Your Disruptors

Harvard Business

Cable companies enviously and despairingly benchmark Netflix and Amazon to learn how they quasi-autonomously cultivate subscribers and binge viewers. That process was quickly fixed — and illuminated the pathology of valuing productivity metrics divorced from UX.

Being Engaged at Work Is Not the Same as Being Productive

Harvard Business

The lack of good productivity metrics for most knowledge worker functions (as opposed to clear benchmark numbers for salespeople , for example) makes it difficult to quantify output at an individual level, so we turned to our Microsoft Workplace Analytics product, which uses de-identified calendar and email data to look for a relationship between inputs (working hours, time with manager, network size for example) and engagement.

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When It Pays to Collaborate with Competitors at Work

Harvard Business

For instance, Doug shared some new concepts for transforming an insurmountable checklist of requirements into manageable benchmarks and priorities, which he had developed after conducting a comprehensive review of his company’s operations. Doug embraced this idea and, in turn, explained how his company was using metrics and working group meetings to compel tangible advances in each inspection area. Manchester Daily Express/Getty Images.

Private Equity’s New Phase

Harvard Business

However, in phase three traditional data gathering and traditional metrics are not sufficient to ensure significantly differentiated value creation. A silent, seismic shift has dramatically altered corporate ownership and business governance globally.

A Refresher on Discovery-Driven Planning

Harvard Business

” Step 2: Do benchmarking. Here you “benchmark the key revenue and cost metrics in your business against the market and against firms offering the most-comparable products.” But what they found after McGrath helped them do some market sizing and benchmarking “should have killed the project immediately,” she says. You’re working on a new venture and you know you’ve got to create a plan to execute it.

Reflecting on David Garvin’s Imprint on Management

Harvard Business

Garvin stresses the importance of rigorous experiments (years before experimentation became the rallying cry for a new generation of innovators); thoughtful problem definition; and smart, well-designed metrics. ” (2008), it seems to me, is that it serves as an assessment tool that allows managers and executives to benchmark their organizations against other units and companies.

As AI Makes More Decisions, the Nature of Leadership Will Change

Harvard Business

Meta-analytic studies reviewing 50 years of research suggest that personality traits such as curiosity, extraversion, and emotional stability are twice as important as IQ — the benchmark metric for reasoning capability — when it comes to predicting leadership effectiveness. The New York Public Library. It is tempting to regard artificial intelligence as a threat to human leadership.

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The Case Against Pay Transparency

Harvard Business

As a result, some of these Harvard employees earned in excess of $30 million in yearly pay, due to performance that was truly exceptional against industry benchmarks. Pay transparency thrives in organizations that abandon pay for performance; it struggles in environments where rewards are linked to subjective metrics. Calls for pay transparency as a cure for pay discrimination are abundant.

What the Best Transformational Leaders Do

Harvard Business

Whereas most business lists analyze companies by traditional metrics such as revenue or by subjective assessments such as “innovativeness,” our ranking evaluates the ability of leaders to strategically reposition the firm. We then narrowed the list to 18 finalists using three sets of metrics: New growth. During phase two, we used these comparative metrics to narrow the list to 18 finalist candidates.

Collect Your Employees’ Data Without Invading Their Privacy

Harvard Business

The hypothesis can be as specific as “underperforming customer accounts are not getting as much time investment as high-performing accounts,” or as general as “correlations will be found between people analytics metrics and business outcome x,” but the outcome needs to matter. We provide people with personal, confidential reports that compare their own data to organizational benchmarks, and this helps give them an incentive to participate.

If You Say Something Is “Likely,” How Likely Do People Think It Is?

Harvard Business

In this way, using an objective benchmark helps pinpoint your subjective probability. (To The best forecasters make lots of precise forecasts and keep track of their performance with a metric such as a Brier score. Lee Powers/Getty Images.

How to Evaluate, Accept, Reject, or Negotiate a Job Offer

Harvard Business

Next, you need to think about what matters to you in both your professional and private life and then “assess the offer” against these metrics, says Weiss. “Also, look at what you will be doing, what success looks like, and what benchmarks you’ll be judged against,” he says. Congratulations! You got the job. Now for the hard part: deciding whether to accept it or not. How should you assess the salary as well as the other perks?