Carta - using product data to derive customer value
In the RevOps Maturity Assessment, one of the statements is:
“We use data to derive insights that help our customers and revenue teams to be more successful”
Carta, the equity management platform is a great example of this.
They manage the cap tables for over 40,000 startups, and the overall compensation for more than 280,000 employees.
This gives them access to a huge volume of data that when aggregated provides valuable insight to their customers, prospects and their internal team.
Aggregate your customer data to provide insights
Here are three charts from their latest report on startup compensation:
In this first chart, take a look at the detail provided, about how individual cities’ compensation is trending up or down and how that compares to San Francisco.
This data is current - it has come straight out of their system.
It isn’t a survey run by a research company back in February and already out of date by publication.
This second chart shows the growth or reduction in headcount across all Carta customers - 40,000 companies.
This isn’t a sample of 1,200 executives that were happy to answer a survey in return for $500.
And thirdly, this chart shows that revenue teams, especially marketing and sales, have the lowest tenure across all of Carta’s customers.
Carta’s main ‘customer’ is the finance team, but because they have ‘users’ across every function they can derive insights from the product that would be difficult to get via traditional surveys.
Real insight from real companies on a massive scale.
What data are you sitting on that could be valuable to your customers?
You have customers.
They use your product.
What can you aggregate from their usage of your product that might be of interest to the wider community?
If you have an HR platform are jobs getting filled faster? Are there more candidates at each stage of the process?
If you are a finance platform are invoices taking longer to get paid? Are invoice values growing faster than inflation?
If you want some ideas on how to generate insights from your data, why not run a workshop with your team using this data matrix
Your customers and potential buyers look to you to coach them on the opportunities they have in front of them and to help them determine what to do next.
Give them something more useful than a product datasheet.
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Whenever you are ready, there are three ways that I can help you accelerate your revenue.
RevOps Maturity Assessment - Take my free 22 question assessment and receive specific suggestions on how to improve your revenue growth.
Business Model Design Workshops - I’ll work with you and your team to design or refine a business model for a new or existing product.
RevOps Impact Playbooks - I’ll help you implement one or more tactical processes across your revenue teams - content, referrals, testimonials, adoption and more.