This Data-Driven Strategy Could Be the Difference Between Success and Failure with Sreenath Reddy
Sreenath is the founder and CEO of a technology company called Intentwise. As the likes of Amazon and Walmart share more data than ever before, at Intentwise their goal is to help brands and agencies make the most of all this data.Highlight Bullets> Here’s a glimpse of what you would learn…. Importance of data in e-commerce for competitive advantage.Evolution of data availability and its impact on sellers.Types of questions sellers should ask to leverage data effectively.Categories of questions: operational, diagnostic, and strategic.Practical examples of operational insights for tracking performance.Case studies demonstrating successful data utilization by sellers.The significance of understanding competition at the product level.Tracking customer behavior, including repeat purchases and lifetime value.The necessity of data organization and visualization for quick insights.Actionable steps for sellers to harness data for informed decision-making.In this episode of the Ecomm Breakthrough Podcast, host Josh Hadley converses with Sreenath Reddy, CEO of Intent Wise, about leveraging data to scale e-commerce businesses. They emphasize the importance of data from platforms like Amazon and Walmart for gaining a competitive edge. Srinath shares insights on organizing and visualizing data, tracking key metrics like customer lifetime value and repeat purchase behavior, and identifying true competitors. He advises creating a roadmap of critical questions, ensuring data quality, and using technology to streamline data management. This episode provides actionable strategies for e-commerce entrepreneurs aiming to scale to eight figures and beyond.Here are the 3 action items that Josh identified from this episode:Develop a Roadmap of Questions: Sellers should create a list of key questions they want to answer using data, ensuring they have a clear focus on what insights are necessary for their business.Visualize Data: It's crucial to have tools in place to visualize data effectively. Whether through internal development or third-party tools like Intent Wise, sellers need to see how their inventory, ad performance, and organic rankings interact.Leverage Data for Decision-Making: Sellers must establish processes to analyze data regularly and use those insights to inform strategic decisions. In an increasingly competitive landscape, those who can harness data effectively will have a significant advantage.Resources & Links SectionJosh Hadley on LinkedIneComm Breakthrough ConsultingeComm Breakthrough PodcastEmail Josh Hadley: Josh@eCommBreakthrough.comIntent WiseAmazon Marketing CloudAWS APISelling Partner APIPower BIChatGPTMade to Stick by Chip and Dan HeathRick Watson on RMW Commerce ConsultingSpecial Mention(s):Adam “Heist” Runquist on LinkedInKevin King on LinkedInMichael E. Gerber on LinkedInRelated Episode(s):“Cracking the Amazon Code: Learn From Adam Heist’s Brand Scaling Secrets” on the eComm Breakthrough Podcast“Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans” on the eComm Breakthrough Podcast“Unlocking Entrepreneurial Greatness | Insider Secrets With E-myth Author Michael Gerber” on the eComm Breakthrough PodcastEpisode SponsorThis episode is brought to you by eComm Breakthrough Consulting where I help seven-figure e-commerce owners grow to eight figures. I started Hadley Designs in 2015 and grew it to an eight-figure brand in seven years.I made mistakes along the way that made the path to eight figures longer. At times I doubted whether our business could even survive and become a real brand. I wish I would have had a guide to help me grow faster and avoid the stumbling blocks.If you’ve hit a plateau and want to know the next steps to take your business to the next level, then go to www.EcommBreakthrough.com (that’s Ecomm with two M’s) to learn more.Transcript AreaJosh 00:00:00 Welcome to the Ecomm Breakthrough podcast. I'm your host, Josh Hadley, where I interview the top business leaders in e-commerce. Past guests include Kevin King, Aaron Cordova, and Michael Gerber, author of the E-myth. Today I am speaking with Srinath Reddy, the founder and CEO of Intent Wise, and we are going to be talking a lot about how you can use data that Amazon and Walmart and all the marketplaces are giving you in order to create a com...