Data-driven decision making examples are not being used effectively by businesses.
Agitate: The reasons for this could be because of a lack of understanding about the importance of data-driven marketing, or it could be that there is resistance from leadership to implement these new strategies.
We can learn from casinos that have been using data-driven decision making examples for years to understand how they use customer feedback and behavior to increase their profits. In fact, according to Forbes magazine, the gaming industry has an annual revenue of $300 billion dollars! And if you think about it, this makes sense since casinos rely on people’s weaknesses (gambling) in order for them to make money.
So why can’t we apply these same principles to our businesses?
By doing so we will see significant growth and profit increases as well!
In this podcast episode, Michael Laps shares his insights and shows us how we can use
About Michael
Michael Laps is Yoghurt Digital’s Strategy Director and Co-Founder. Michael specializes in customer behavior research, user experience, and all things search.
With a background in client services at both traditional advertising and digital agencies, Michael has worked on digital campaigns for household names like ANZ Bank, H&R Block, Converse, P&O Cruises, Jurlique, and the NRL. He is also a guest lecturer at UNSW and Macquarie Business School and was the recipient of the Australian Marketing Institute’s ‘Future Marketing Leader’ award.
In this episode, he shares his experience to show us how to use data-driven decision making examples to inspire growth in our businesses.
Some topics we discussed include:
- Why some businesses don’t invest in data-driven decision making
- Where the resistance towards data-driven decision making stems from
- The co-relation between data-driven decision making examples and casinos
- How to bring about a mind-shift in the leadership of organizations with regards to data-driven marketing
- A framework to scale up data inputs and make data-informed decisions
- Can empathy be brought into the decision making framework
- Data-driven decision making examples that we could learn from
- Potential pitfalls we need to be aware of
- Opportunities within most businesses to make data-informed decisions
- How to ensure the data is clean and we are able to remove bias in interpreting results
- and much much more…
Listen to the episode
Related links and resources
- Check out Yoghurt Digital
- Learn more with Matt Cowell – How to Improve Data Literacy Skills via Microlearning Programs to Drive Growth
- Learn from Jarod Spiewak – How to Craft a Trust-Based Data Driven Marketing Strategy That Drives Growth
- Learn from Naira Perez – Building Community Online: How to Use a Powerful Data-Driven Approach to Drive Growth
- Learn from Francis Brero – How to Improve Your B2B Marketing Funnel Output by Leveraging Data
- Check out the article – 20+ Powerful Marketing Strategies You Should Copy to Grow Your Company Fast
- Listen to my interview with Andie Dovgan – Low Code Automation: How to Prepare For The Future of Business Growth
- Listen to my interview with Brandee Sanders – Data Science Process: How to go From Pilot to Pipeline to Drive Growth
- Listen to my interview with Alicia Butler Pierre – Business Operations: How to Build a Scalable Structure That Drives Growth
- Listen to my interview with Yoram Solomon – How to be Trustworthy And Build a Culture of Innovation
- Get even more inspiration with Brady Werkheiser – Blockchain Marketing Strategies You Should Copy to Grow Your Company Fast
Connect with Michael
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