As consultants, we thrive on finding & fixing the leaks in quick time. But as we know, it’s harder said than done. We employ a bunch of smart analysts and consultants to find the ‘smoking gun’ and deliver value to our clients.
Getting to the ‘root cause’ of the issue takes time, effort and erodes the margins and at times impacts the customer confidence.
Challenges in Finding Revenue Leaks
Here are some challenges agencies face when trying to help their clients:
1. Collecting Meaningful Data: Companies have tons of data, but not all of it is useful. Finding the right data that shows where money might be leaking is a big challenge. It’s like searching through a huge pile of puzzle pieces to find the ones that fit together.
2. Selecting the Right Analytics Tool: With so many tools available, choosing the right one can be confusing. The right tool needs to be both powerful and easy to use. It’s like picking the right tool from a toolbox to fix a specific problem.
3. Data from Multiple Sources: Businesses get data from many different places, like sales, marketing, and customer service. Bringing all this information together to see the big picture can be tough. It’s like combining pieces from different puzzles to make one complete image.
These challenges can lead to undesired impacts & consequences that can potentially harm the customer relationship & maybe even hurt business prospects.
Impacts of delays on Business
Some of some of the key impacts that can potentially harm your business:
Impact #1: Delays in delivering value to clients can harm your agency’s reputation and client satisfaction. The longer it takes to show results, the higher the risk of clients losing interest or confidence.
Impact #2: Disorganized and fragmented data can lead to inconsistent reporting and misinformed decision-making. Without a centralized data source, you might waste valuable time piecing together information from various platforms.
Impact #3: Inconsistent service quality and lack of standardization can lead to client dissatisfaction and increased operational costs. Productizing your services can help in delivering consistent and high-quality outcomes.
This is where leveraging an AI-augmented analytics tool like Out of the Blue (OTB) would drive value to your business. OTB is like a spider that crawls through the clients systems, not just finding the ‘source’ of the leak but also the ‘root cause’ of the revenue leaks.
How agencies can Benefit from "Out of the Blue"
Here’s how OTB does it:
#1 Reduced Time to Value
Out of the Blue (OTB) is an AI-augmented analytics tool that significantly speeds up your analytical processes. OTB provides insights into metric movements and identifies causations and correlations between metrics and revenue impact at the click of a button. What might take an analyst days or weeks to analyze, OTB can accomplish in moments. This boosts your efficiency and ensures quicker value delivery to your clients.
#2 Single Source of Truth:
OTB helps centralize all your client data in one place, modernizing and simplifying your reporting process. It connects to multiple data sources such as Shopify, Klaviyo, Ad Providers, etc., consolidating all your data into one coherent platform. This saves time, reduces errors, and ensures that everyone in your agency is working with the same accurate information.
#3 Productize your Services:
By leveraging a product like OTB, you can enhance the quality and consistency of your services.This not only improves client satisfaction but also streamlines your operations, making them more efficient and scalable.
Plug The Leaks With A Revenue Optimization Tool That Works
Complement your expertise with the power of OTB to quickly identify revenue leakage sources, identify and address the ‘root causes’ and even set up a 24×7 monitoring capability to enable your clients to get notified in real time of any breaks to minimize financial losses due to delays in fixing leaks.
Let’s talk.