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11 Founders Explain Which Type of Data Really Accelerates Strategic Growth

To truly be heard in a crowded market, you also need to listen. You need to see the data. See the competitors. To stand out from the crowd and become a brand that people want to do business with, you need to have your finger on the pulse of the market. You can only add your clear voice to the conversation if you know what competitors, comparators, and customers are talking about. You need data to accelerate your growth.

 




 

Quotes from startup founders and executives 

 “Customer needs are evolving more quickly than ever. With so many tools at our disposal for collecting data and measuring our performance, how do we know if we’re using the right metrics? To achieve growth in a competitive digital marketplace, it’s imperative to set priorities and KPIs at the organizational level. Use them to hone in on the metrics that are meaningful for your organization, and will help you find the signal in the noise to ultimately better understand your customer and consistently meet (and exceed!) their expectations.” 

— Nitzan Shaer, CEO & Co-founder, WEVO,  

To grow your market, you need to know your customers, form hypotheses about the roots of their needs, how they will evolve, and validate your thinking with data—continuously. You need to hear from customers personally and listen “between the lines.” It’s a contact sport!

–Tobias Kunze, CEO & Co-founder, Glasnostic,

 

“With online buying commoditizing the pre-sale landscape, retaining customers is critical in today’s on-demand environment. Now, retention and churn data truly become the barometer for the health of your business. To accelerate strategic growth, companies should prioritize increasing retention and driving down churn. Companies should be connecting with their customers through after-sale product engagement, which creates an ongoing relationship that reduces churn, drives up retention and ultimately produces higher revenue, lifetime value, and excellent customer experiences.” 

— Ken Rapp, CEO and co-founder, Blustream.io

 

“We are in the business of data at IPinfo, and all of our efforts to ensure the accuracy and accessibility of our data are driven by our customers. Feedback from our users has always informed our roadmap. By strategically expanding our data capabilities and services according to their needs, we’ve introduced some of our most popular products and defined our place in the market.”

— Ben Dowling, CEO & Founder, IPinfo , IPinfo.io 

 

Data is required to monitor your business, identify opportunities, and resolve issues facing your business, your customers, and even the industry. Through deeply understanding your data, and metrics that matter, you can make smarter decisions and accelerate your business. Using data to see the ROI on your investments — across marketing, sales, product initiatives, etc.– gives you a continuous pulse of how you’re performing. Data shows if you’re aligned to your goals and a path forward to accelerate your growth..”

– Diane Strutner, CEO & co-founder, Datazoom

 

You need to have myopic focus. The world around you is going to be moving at a million-miles an hour, and if you don’t have that focus, you’ll too easily get swung and distracted by it all. This is not to say you should not adapt and evolve, but when you have your true north star, you’ll know what to ingest, and what to filter out. This is how you accelerate growth strategically for sustainable, long-term benefit – not just growth for growth’s sake.

— Brittany Greenfield, CEO & Founder, Wabbi

 

“Data is all about go to market. Once I know our own company GTM KPIs (demand pipeline, sources, lead to opp conversion, opp>rev conversion) in addition to market momentum KPIs (areas of demand, TAM, pain topics surge etc) – then I can marry the two into a strategic go to market plan to accelerate our growth”-

Gil Allouche, CEO, Metadata.io 

 

The most effective way to accelerate strategic, organic growth is by developing a differentiated product or service that fulfills a strong client need. Throughout my career, every differentiated product we designed was the result of a customer approaching us with a problem we need to solve for them and then determining if the solution we created could possibly solve a problem that existed within the marketplace. The major component of that determination process involved asking other similar clients and prospects if they felt the solution we created for that challenge had any value. If they said absolutely, or better yet, “we need this too”, then we knew we were really onto something!

Mike Kind, CEO StanData Technology

“You need data to accelerate your own growth. That can mean easy access to customer product usage data, identifying what’s working and where there are roadblocks; specific data around technology use in a target market (such as hospice and senior living. It also is market data around a shift in customer (adult child of elder) empowerment – similar to the shift from relying on auto dealers to sell us a car to consumers researching, selecting and buying 100% online. Finally, it can be data that clearly illustrates the cost of NOT automating and streamlining collaborative conversations.”

 -Katherine Wells, CEO and founder of Serenity Engage

 

“Iteration is often the key to scaling a business. In order to iterate, you need lots of ideas and context. The more you listen to comparator companies in your own market and in other similar markets, the more ideas you’ll have to work with to drive successful iteration. The trick is to find ways to always be listening and learning, make it part of your daily life.”- Mike Veilleux, technical co-founder & CTO of York IE

 

“Understand the problem you solve. As an entrepreneur, it’s critical to look at the “big picture.” The short-term mindset of most developers in the VR space drives them to produce content that does not demonstrate measurable value. Instead of thinking “VR is awesome, let’s get into that space” – assess the problem you are really solving. Ask specific questions like “how will your solution replace existing methods and outperform them by 4-10x?” For us, after considering the right questions and listening carefully to our customers, we realized that we are not a VR company, although we support VR headsets on our platform.  

“We are actually in the business of building and scaling sophisticated learning simulations. The core value proposition is that learning by doing outperforms traditional learning methods by an order of magnitude, in most cases it does not matter if you live the situation on PC, VR or a mobile phone. In fact, scaling and reaching the global workforce is a crucial step to success. VR is the future, but are we 2, 3, or 4 years away from significant adoption? No one knows! Riding the excitement wave of VR is an exciting place to be but focusing on the business problem we are solving will allow us to deliver real value to our customers.”

-Mousa Yassin, CEO and Founder of Pixaera, pixaera.com

Ralph Paul on Twitter
Ralph Paul
Ralph is the Managing Editor at StartUp Mindset. The StartUp Mindset team consists of dedicated individuals and is designed to help new, seasoned, and aspiring entrepreneurs succeed.

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Ralph is the Managing Editor at StartUp Mindset. The StartUp Mindset team consists of dedicated individuals and is designed to help new, seasoned, and aspiring entrepreneurs succeed.

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