Blog

<p>Consulting projects are essential for businesses to improve their processes, increase efficiency, and ultimately, boost their bottom line. However, measuring the success of these projects can be challenging. Without clear metrics, it's difficult to determine whether the project was a success or failure.</p>

<h2>Why is Measuring Success Important?</h2>

<p>Measuring the success of consulting projects is crucial for several reasons. Firstly, it allows businesses to determine whether the project achieved its objectives. Secondly, it helps to identify areas for improvement in future projects. Finally, it provides a basis for evaluating the performance of consulting firms and consultants.</p>

<h2>Best Practices for Measuring Success</h2>

<h3>Define Clear Objectives</h3>

<p>The first step in measuring the success of a consulting project is to define clear objectives. This should be done at the outset of the project and should include both qualitative and quantitative metrics. Qualitative metrics might include improved employee morale, while quantitative metrics might include cost savings or increased revenue.</p>

<h3>Use Data to Measure Progress</h3>

<p>Using data to measure progress is essential for determining the success of a consulting project. Data can be collected through surveys, interviews, and other methods. It's important to collect data throughout the project rather than just at the end to ensure that progress is being made.</p>

<p><figure id="figure-ncyaiqk0plj4piqxa"><img id="ncyaiqk0plj4piqxa" src="https://images.unsplash.com/photo-1550071593-fd1bdaf1f93c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxMXx8Y29uc3VsdGluZyUyMHByb2plY3R8ZW58MHx8fHwxNjg3MjkxMDQwfDA&ixlib=rb-4.0.3&q=80&w=1080" alt="consulting project" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure></p>

<h3>Communicate with Stakeholders</h3>

<p>Communication with stakeholders is essential for measuring the success of a consulting project. Stakeholders should be kept informed of progress and should be involved in the evaluation process. This ensures that everyone is on the same page and that the project is meeting the needs of the business.</p>

<h3>Be Flexible</h3>

<p>Flexibility is crucial when measuring the success of a consulting project. Objectives may change over time, and it's important to be able to adapt to these changes. Being flexible also means being open to feedback and making adjustments as necessary.</p>

<p><figure id="figure-c7uv9vmqelj4pisub"><img id="c7uv9vmqelj4pisub" src="https://images.unsplash.com/photo-1520607162513-77705c0f0d4a?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMnx8YnVzaW5lc3MlMjBjb25zdWx0aW5nfGVufDB8fHx8MTY4NzI5MTA0Mnww&ixlib=rb-4.0.3&q=80&w=1080" alt="business consulting" class="object-cover bg-gray-100" style="aspect-ratio: 16/9"></figure></p>

<h3>Consider the Long-Term Impact</h3>

<p>When measuring the success of a consulting project, it's important to consider the long-term impact. Some benefits may not be immediately apparent but may become clear over time. For example, a project that improves employee morale may lead to increased productivity and revenue in the long run.</p>

<h3>Compare Actual Results to Expected Results</h3>

<p>Finally, to determine the success of a consulting project, it's important to compare actual results to expected results. This allows businesses to see whether the project achieved its objectives and whether it was worth the investment.</p>

<h2>Conclusion</h2>

<p>Measuring the success of consulting projects is essential for businesses to ensure that they are getting the most out of their investments. By defining clear objectives, using data to measure progress, communicating with stakeholders, being flexible, considering the long-term impact, and comparing actual results to expected results, businesses can determine whether their consulting projects are successful.</p>

Measuring the Success of Consulting Projects: Best Practices

<p><span style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);" data-mce-style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);">Andrew sat down with Kieran McLoone, Editor of Global Franchise Magazine to discuss how franchises can approach and embrace the use of first-party data.&nbsp;&nbsp;</span>﻿<a data-mce-href="https://podfollow.com/1475748334/episode/66092ecfcce395d6420d301179ac3f07771cbd37/view" href="https://podfollow.com/1475748334/episode/66092ecfcce395d6420d301179ac3f07771cbd37/view"><span style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);" data-mce-style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);">Listen to the podcast here.</span></a></p><p><strong>Synopsis</strong></p><p><span style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);" data-mce-style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);">Data is an essential part of a brand’s growth, which we’ve covered extensively on the podcast and throughout previous issues of </span><em style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);" data-mce-style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);">Global Franchise</em><span style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);" data-mce-style="font-family: var(--body-fontFamily); font-weight: var(--body-fontWeight);">&nbsp;magazine. With it becoming increasingly challenging to harness third-party data, however, franchises need to start looking inward. For example, more than 75 per cent of iOS users around the world have rejected app tracking since the release of Apple’s iOS 14.5.&nbsp;</span></p><p>First-party data has historically been viewed as an expensive area to tread into, which has caused some smaller organizations to forgo this invaluable source of customer activity. With companies like LighthousePE now working alongside franchises big and small, however, the possibilities are beginning to broaden.&nbsp;&nbsp;</p><p>But what is first-party data, and how can it be used for brand growth? To answer these questions and many more, we caught up with&nbsp;<a href="https://lighthousepe.ai/" data-mce-href="https://lighthousepe.ai/">LighthousePE</a>’s CEO, Andrew Steele.&nbsp; <a data-mce-href="https://podfollow.com/1475748334/episode/66092ecfcce395d6420d301179ac3f07771cbd37/view" href="https://podfollow.com/1475748334/episode/66092ecfcce395d6420d301179ac3f07771cbd37/view">Listen to the episode on your podcast network of choice here</a>.</p><p><br></p>

Global Franchise Podcast:  How to harness first-party data

<p>Nine in 10 companies worldwide that use location data expect its use to become more important over the next few years. This isn’t limited to the obvious industries like retail, hospitality, and travel. In fact, location data is finding increasing uses across real estate, finance and civic organizations, to name a few. And while use cases may vary across each of these sectors, a common thread is the need to respect privacy concerns and maintain transparency with customers to realize the true potential of location data.</p><p>Recently, LighthousePE was one of a select few asked to serve as a source for Insider Intelligence’s latest report, “<a href="https://www.emarketer.com/content/location-intelligence-2022" target="_blank" rel="noopener" data-mce-href="https://www.emarketer.com/content/location-intelligence-2022">Location Intelligence 2022</a>”. While the report covers a wide range of use cases for the use of location data like managing the supply chain and forecasting economic trends, we were delighted to chime in on the important role of location intelligence in creating authentically personalized customer experiences and strategic marketing campaigns.</p><p><strong>Privacy Guardrails are Changing Everything</strong></p><p>Traditionally, brands and app developers have been able to rely on third-party partners to provide mobile location data. With increasing privacy-driven restrictions on cross-app tracking and third-party data sharing, however, that third-party data is becoming less reliable and more difficult to acquire. As of December 2021, only 1 in 4 iOS users worldwide have opted into cross-app tracking according to the App Tracking Transparency Opt-In report from&nbsp;<a href="https://www.flurry.com/blog/att-opt-in-rate-monthly-updates/" target="_blank" rel="noopener" data-mce-href="https://www.flurry.com/blog/att-opt-in-rate-monthly-updates/">Flurry</a>. This means that location data for 75% of iOS users won’t be accessible through third-party sources. The opt-out rates are even higher in the US, with only 18% of iOS users opting in to allow cross-app data sharing.</p><p>Those growing restrictions aren’t limited to just third-party location data either. The impact on marketers is further compounded by the fact that browser-based cookies are going away. While Google delayed the sunset of third-party cookies until late 2023, it’s inescapable that we are on a path to a cookieless internet. Together, these represent a big portion of the interconnections that have fueled the digital marketing industry over the last couple of decades.</p><p>In addition to the technology guardrails, states like California, Colorado and Virginia are also in various stages of implementing their own privacy legislation, which by and large require both transparency and opt-in for consumer data capture and usage. It’s not unreasonable to expect other states, if not the Federal government, to follow suit in the near future.</p><p>So what should brands and app developers do?</p><p><strong>Increasing Importance of First-Party Data</strong></p><p>It’s time to start shifting to a first-party data strategy. Specifically, location data should be considered in the same category as first-party data already collected in other systems like CRM or point-of-sale platforms.</p><p>While most consumers are of course concerned about privacy, the majority readily share data like phone numbers and email addresses when they believe that they will receive value in the exchange. According to Forbes Magazine, 2 in 3 consumers are also willing to share location data if they believe that a similar value exchange exists.</p><p>By approaching location as a first-party data set, brands have the ability to articulate exactly why they’re asking to share location, how they’re going to use it, and how customers will benefit from sharing. Establishing that value exchange not only creates transparency and trust with customers, it also is the single most effective strategy to maximize opt-in rates.</p><p><strong>Location is the Most Reliable Indicator of Intent</strong></p><p>Gauging consumer Intent has become a Holy Grail for marketers, but traditionally it’s based on online activity which is fickle at best. Given how easy it is to search online, consumers tend to peruse products and services they never actually intend to buy. And, as third-party data inevitably continues to become more scarce, online intent will also continue to become more difficult to gauge.</p><p>But if that same consumer commits their time and energy to get in their car or arrange for transportation to go to a physical place to evaluate a product or service, the indication of intent is significantly stronger. As a result, location intelligence is an extremely reliable proxy to pinpoint when and where it’s most appropriate to send them a prompt to encourage a visit or a purchase.</p><p><strong>Location as a Loyalty Tool</strong></p><p>Layered in all of this lies a critical, yet often overlooked, distinction. To create the trust and transparency that leads to consumers’ willingness to opt-in to sharing location data, the brand relationship must already exist. So as the shift from third-party to first-party data strategies continues, marketers must also evolve their tactics to embrace location as a retention and engagement tool as much as, if not more so, than an acquisition tool.</p><p>Consumer sentiment around privacy will undoubtedly continue to evolve toward the expectation of the opt-in across all stages of the funnel. This is certainly a fundamental and structural shift in approach from the last 20 years of digital marketing, but it’s actually a win-win for both marketers and consumers. Brands that consistently demonstrate a commitment to building trust and transparency with their customers through opt-in-centered strategies will ultimately create a more loyal customer base and a deeper moat against their competitors.</p><p>To get the full report,&nbsp;<a href="https://www.emarketer.com/content/location-intelligence-2022" target="_blank" rel="noopener" data-mce-href="https://www.emarketer.com/content/location-intelligence-2022">click here</a>.</p><p><br data-mce-bogus="1"></p><p>This post originally appeared on the <a data-mce-href="https://lighthousepe.ai/why-location-intelligence-will-become-more-important-for-every-business/" href="https://lighthousepe.ai/why-location-intelligence-will-become-more-important-for-every-business/">LighthousePE Blog</a> on 2/10/2022</p>

Why Location Intelligence Will Become More Important for Every Business

<main class="main-content main-content--large main-content--with-social main-content--with-sidebar" role="main"><section id="block-mainpagecontent-3" class="main-page-content block-mainpagecontent-3 block block-system block-system-main-block"><article id="node-19030" role="article" data-history-node-id="19030"><header class="article-header" role="article" data-history-node-id="19030"><h3 class="article-header__intro">Most restaurants are sitting on a goldmine of data that can and should be leveraged to drive deep customer loyalty through the personalized experiences they crave.</h3></header><div class="view-mode-full"><div class="field-wrapper field field-node--field-content field-name-field-content field-type-entity-reference-revisions field-label-hidden"><div class="field-items"><div class="field-item"><div class="image-caption image-caption--centered image-caption--xlarge de-content-inner clearfix"><div class="image-caption__image-content"><div class="image-caption__image"><div class="field-wrapper field field-paragraph--field-image-media field-name-field-image-media field-type-entity-reference field-label-hidden"><div class="field-items"><div class="field-item"><article><div class="field-wrapper field field-media--field-media-image field-name-field-media-image field-type-image field-label-visually_hidden"><div class="field-items"><div class="field-item"><br></div></div></div></article></div></div></div></div></div><div class="image-caption__text"><span style="font-family: inherit; font-size: 18px; font-weight: inherit;" data-mce-style="font-family: inherit; font-size: 18px; font-weight: inherit;">The statistics pack a punch: Sixty percent of restaurants don’t make it past their first year, and 80% fail within the first five years. Restaurateurs must constantly be on their A-game to remain competitive amid rising wages, food costs and powerful incumbents—not to mention the curveball the pandemic dealt the entire hospitality industry.</span><br></div></div></div><div class="field-item"><div class="de-content-small"><div class="wysiwyg de-content-small"><div class="field-wrapper field field-paragraph--field-text-area field-name-field-text-area field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item"><p><span lang="EN" xml:lang="EN">The good news? Most restaurants are sitting on a goldmine of data that can––and should––be leveraged to drive deep customer loyalty through the personalized experiences they crave.</span></p><p><a href="https://hospitalitytech.com/2021-pos-software-trends-report-accelerating-innovation" data-feathr-click-track="true" data-feathr-link-aids="[&quot;60b666ef4b4ff95972462b95&quot;]" data-mce-href="https://hospitalitytech.com/2021-pos-software-trends-report-accelerating-innovation"><em>32% of restaurants say&nbsp;using data to understand guest preferences and behavior is driving their next POS upgrade -- HT's 2021 POS Software Trends report</em></a>.&nbsp;</p><p><span lang="EN" xml:lang="EN">Consumers are increasingly opting for a multi-channel approach when it comes to their dining experience. This includes how they order, where they dine (at home or in the restaurant) and how they prefer to engage with their favorite restaurants. As a result, restaurants have to be able to meet consumers where they are and fulfill their expectations for personalized, flexible solutions.</span></p><p><span lang="EN" xml:lang="EN">This requires getting to know––or “re-getting” to know––the customer. Luckily, most restaurants already have the insight they need and now there are tools to automate and easily scale the personalization process.</span></p><h3><strong><span lang="EN" xml:lang="EN">Tapping into your existing customer data</span></strong></h3><p><span lang="EN" xml:lang="EN">The more you know about your guests, the easier it is to understand them. Understanding them leads to exceptional customer experiences, which in turn results in loyalty and higher sales.</span></p><p><span lang="EN" xml:lang="EN">And studies show diners are inclined to share information if it translates to more engaging and personalized experiences. What’s more, technology makes it easy to gather and use meaningful data quickly and effectively––data that your customers have opted in to share.</span></p><p><span lang="EN" xml:lang="EN">Where do you look?</span></p><p><strong><span lang="EN" xml:lang="EN">Point-of-sale (POS) systems:</span></strong><span lang="EN" xml:lang="EN">&nbsp;Your POS can help you gather and keep track of specific customer details and preferences. From basic demographics to ordering and menu preferences—this insight can be used to deliver personalized messages and offers to the customer.</span></p><p><em><a href="https://hospitalitytech.com/2021-pos-software-trends-report-accelerating-innovation?from=gate" data-feathr-click-track="true" data-feathr-link-aids="[&quot;60b666ef4b4ff95972462b95&quot;]" data-mce-href="https://hospitalitytech.com/2021-pos-software-trends-report-accelerating-innovation?from=gate">37% of restaurants say integration with a third-party delivery system is driving their next POS upgrade -- HT's 2021 POS Software Trends report</a></em>.&nbsp;</p><p><strong><span lang="EN" xml:lang="EN">Customer relationship management (CRM) systems and loyalty programs:&nbsp;</span></strong><span lang="EN" xml:lang="EN">&nbsp;Customer data collected in these platforms enables you to learn more about customer buying patterns, which offers compel action and how customers prefer to be communicated with. The CRM, specifically, helps organize all the data from your various systems in one place and automate certain communications. A good CRM that is regularly maintained will become your single source of truth.</span></p><p><strong><span lang="EN" xml:lang="EN">Email marketing platforms:&nbsp;</span></strong><span lang="EN" xml:lang="EN">Even your email lists can provide some good insight. Most provide insight into which contacts on your list are engaging with your email campaigns. You can use this information along with what they’re clicking on, what time they open it, etc. to gain a more detailed picture of what those individual customers are interested in and you might further personalize your outreach to them.</span></p><h3><strong><span lang="EN" xml:lang="EN">Putting the data to work</span></strong></h3><p><span lang="EN" xml:lang="EN">Achieving true personalization has traditionally been extremely time consuming and expensive, especially performing it at the scale needed to see a return in the investment. But there are now a variety of tools accessible to and affordable enough for restaurants of any size to help automate that process.</span></p><p><span lang="EN" xml:lang="EN">The key to creating truly personalized experiences for each individual customer, however, must start with meeting them where they are. Today, that journey more often than not starts in a mobile app.</span></p><p><span lang="EN" xml:lang="EN">A recent&nbsp;</span><a href="https://geo.bluedot.io/acton/attachment/43219/f-6e44aa2a-fa2b-41e7-ae69-d9739c404797/1/-/-/-/-/SWFU%20volume%203.pdf" data-feathr-click-track="true" data-feathr-link-aids="[&quot;60b666ef4b4ff95972462b95&quot;]" data-mce-href="https://geo.bluedot.io/acton/attachment/43219/f-6e44aa2a-fa2b-41e7-ae69-d9739c404797/1/-/-/-/-/SWFU%20volume%203.pdf">report by Bluedot</a><span lang="EN" xml:lang="EN">&nbsp;found 86% of respondents surveyed said they have ordered directly from a restaurant app since the start of the pandemic, and eight out of 10 those consumers said they plan to maintain their current dining habits beyond the pandemic. And, according to the&nbsp;</span><a href="https://www.appannie.com/en/go/state-of-mobile-2021/" data-feathr-click-track="true" data-feathr-link-aids="[&quot;60b666ef4b4ff95972462b95&quot;]" data-mce-href="https://www.appannie.com/en/go/state-of-mobile-2021/">State of Mobile 2021 report by App Annie</a><span lang="EN" xml:lang="EN">, mobile orders of food and food delivery in the US have grown over 105% in the past year. Those shifts are showing no signs of reversing.</span></p><p><span lang="EN" xml:lang="EN">This begs the question, how do you deliver personalized experiences to your customers where they are, efficiently and at scale? This is where proximity engagement comes in.&nbsp;</span></p><p><span lang="EN" xml:lang="EN">Proximity engagement is a mobile marketing technology that follows the principles of behavior design. TThat is, a person is most likely to perform a behavior when their motivation and ability to do so are most closely aligned. It does this by analyzing opt-in behavioral and location data from your customers’ mobile devices along with other customer data from your POS system, loyalty platform, or CRM to identify those moments of alignment.</span></p><p><span lang="EN" xml:lang="EN">The upshot? Proximity engagement allows restaurants to automate the delivery of hyper-personalized messages and offers through their mobile app at exactly the right moment and in precisely the right place in which each customer will be most likely to respond and convert.</span></p><p><span lang="EN" xml:lang="EN">Those prompts can range from something as simple as a coupon for a discount on a customer’s favorite lunch item that is sent when they’re nearby, to more complex examples like sending a push to promote your catering business when one of your regulars is back in the office, to targeting offers to weekend-only customers to visit on slower days of the week.&nbsp; The good news is that the technology takes care of the heavy lifting, and is almost infinitely flexible to support whatever business objective you’re trying to achieve.</span></p><p><span lang="EN" xml:lang="EN">Consumer behavior has changed, and it will continue to evolve, but you can bet the preference toward personalization won’t be going anywhere no matter how diners choose to patronize their favorite restaurants. Do the work now to get “re-get” to know your customers. Not only will it help you drive business today, it will position you to be in tune with behavior changes down the road.</span></p><p><br></p><p><em>&nbsp;Originally posted at <a data-mce-href="Originally%20posted%20on%20Hospitality%20Technology%20on%2010/24/21" href="Originally%20posted%20on%20Hospitality%20Technology%20on%2010/24/21">Hospitality Technology</a> on 10/24/2021 and on the <a data-mce-href="https://lighthousepe.ai/want-to-future-proof-your-restaurant-listen-more/" href="https://lighthousepe.ai/want-to-future-proof-your-restaurant-listen-more/" data-mce-selected="inline-boundary">LighthousePE Blog</a> on 10/28/2021</em></p></div></div></div></div></div></div></div></div></div></article></section></main>

Want to Future-Proof Your Restaurant? Listen More

Is It True Personalization? Your Customers Might Not Agree

5 Things a Business Should Do to Create a Wow Customer Experience

Growthplane

We help growth-stage MedTech ventures close the Adoption Gap between pilot success and becoming the industry standard of care using the Pilot-to-Protocol™ Method.

Insights

Measuring the Success of Consulting Projects: Best Practices

Global Franchise Podcast: How to harness first-party data

Why Location Intelligence Will Become More Important for ...

Want to Future-Proof Your Restaurant? Listen More

Is It True Personalization? Your Customers Might Not Agree

5 Things a Business Should Do to Create a Wow Customer Ex...