This may sound like a pseudo-spiritual business promise but in today’s market it makes far more sense to focus on ROI before planning (and proposing) digital solutions rather than generating a slew of one-shot wonder widgets for customers that perhaps generate short-term gains, but ultimately bring long-term confusion.
Numbers, measurement, sentiment… The old business model of just producing great ideas never really got anyone close enough to actually make a change because, frankly, we never had the opportunity to tackle financial efficiency head on. Even our biggest clients never shared P&L, meaning we were left in the dark over the most fundamental of questions: Is this latest widget positively affecting our bottom line?
By looking into the dynamics and metrics of measurement, and by razor-focusing on key issues, projects are born with purpose. And when they have purpose, they make a tangible difference for all stakeholders, be they financial controllers, marketing directors, or, heaven forbid, customers.
Our latest project, for which we collaborated with BeWe, required us to look deeply into the dynamics of the financials around a burgeoning Italian e-commerce site, identify and correct areas of concern, and kick-start a progressive decline in cost per transaction. In four days… I’m happy to report that just one week after launch, this new approach is already beginning to pay off.