3 Tips for Negotiating for Data You May Not Understand
In today’s world, there’s better access to quality data metrics than ever. Popular platforms, like SEM Rush, Salesforce, Cision and Meltwater provide marketing and communications professionals the information they need to understand how well things are performing.
While these are extremely helpful tools for reporting, it’s easy to get overwhelmed with all the bells and whistles the platforms offer. It’s also easy to be oversold on functions when you don’t entirely understand what these ever-changing metrics mean.
“Strong negotiating skills can be among the most valuable assets a person can have,” according to a MasterClass on negotiations. “Throughout your life, the negotiation process may come into play for the following activities: buying and selling merchandise, overseeing real estate transactions, salary negotiation (from setting a starting salary to angling for a higher salary), assessing the market value of a good or service, and problem-solving in interpersonal dynamics, including conflict resolution.”
When negotiating for analytics platforms you may not fully understand, it’s important to remember these three tips:
1) Ask questions
Don’t be afraid to ask questions. The data algorithms that comprise popular metrics are often changing, as access to the data varies. Ask how the metrics are calculated, how they can be used and why they are important.
2) Mirror business priorities
The above-mentioned platforms can all be excellent tools because they offer a vast variety of metrics at your fingertips. The problem is, this can quickly become overwhelming. To avoid this, focus on the platforms that offer metrics that align with your business priorities.
For example, if you’re current focus is on conversions, you may want to focus on a platform that offers metrics like cost-per-acquisition (CPA).
3) Pay for what you need
One of the easiest ways to overpay for data is to pay for a slew of metrics you don’t need. Echoing Tip #2, only pay for data points or features that mirror your business priorities to avoid wasted funds.