P2P

40 P E E R T O P E E R : I L T A ' S Q U A R T E R L Y M A G A Z I N E | W I N T E R 2 0 2 3 immediately direct you to the specific box that corresponds to your request—making it easy to sift through their wares on your own. Efficient but merely transactional. The second vendor does something a little bit different. Front-and-center, along the center show aisle, he has a table set up that he stands behind – and on that table sits a large portfolio case. Upon approach, the gallery owner begins to flip through the portfolio, holding up a print, telling the story of his recent trip to Asia, the artists he visited with, and the vision of their most recent works. He nods to familiar faces in the assembled crowd, each person intently listening, learning, and completely engaged. And then I hear him say my name, "Paula, you may be interested in adding this piece to add to your collection." And then he explains why. At that exact moment, he expanded his use of collected data to drive conversation and to strengthen and validate our relationship. In fact, he strengthened his relationship with every person listening to his presentation as a thought leader. A thought leader who, through the body of their work, ideas, authority, and credibility, can influence thinking and contribute to broader discussion and progress. Guess where I took out my checkbook? To the vendor who proved his authenticity and furthered his engagement with me as my trusted advisor. Why am I telling this story? The two vendors are each using data to sell their wares and expertise. This is like the strategy law firms use when sending out client alerts as part of a content marketing strategy. Whether by marketing or a knowledge management team, the topics and themes pushed out in these alerts are based on the firm's collective data on client needs that have been organized into marketing lists. The data is used to develop personas. But when members of the firm engage with their clients by articulating the reason specific to them and what they need to know about, they can push that content into the realm of authentic thought leadership. The firm and its lawyers take on the role of trusted advisors. And all of this is also based on data collected by the firm. Data Comes in Many Forms. X's. O's. and Client Feedback Data comes in Xs – experience data – and Os – operational data. In 2005, Bain & Company did a study called Closing the Delivery Gap: How to Achieve True Customer-led Growth. According to their research, 80% of CEOs believed they delivered a superior customer experience. However, only 8% of customers believed this to be true. ("The Xs and Os of a Next-Generation Support Experience," SAP News Center, Mohammed Ajouz, November 4, 2019). The study notes, "With the experience economy impacting how both business-to-consumer (B2C) and business-to-business (B2B) companies operate, organizations have started to shift from focusing purely on delivering services and products to delivering delightful F E A T U R E S "Data comes in Xs – experience data – and Os – operational data."

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