Driving performance over time with quarterly VCV Sessions

Over the years we’ve learned a lot at Toovio but one of our best lessons came recently with one of our telco clients. They are in the prepaid wireless business and were wanting to move away from the batch and blast approach and needed a methodology to help drive performance over time and iterate their current VCVs (marketing efforts that leverage test vs. control) more quickly. Of course as we’ve spoken about previously in our blog on Developing a Self-funding road map with the VCV method about how you can leverage Volume, Conversion and Value to define a data project and help ensure its success. But that approach shouldn’t be only reserved for new clients, it should help all of our clients! Thus the quarterly VCV session was born.

In an effort to increase performance of marketing efforts over time, each quarter we stop chopping wood for a few hours to sharpen the saw. During this meeting which lasts about 2 hours we cover the following agenda;

Review strategic objectives

Map those strategic objectives to measurable outcomes

Review the current list of VCVs in the que

Leverage Volume, conversion and value to determine which VCVs to keep, kill or which new VCVs to add

Review and prioritize based on organizational value and resources

This process not only allows us to better support our clients by staying tuned in to their ever-changing strategic objectives as the only thing constant (especially during a pandemic) is change, but it also allows us to help drive the performance of the entire road map. By constantly checking in and ensuring we are launching new iterations of their VCVs every two weeks creates a “mini-sprint” mentality. When you can keep up with the pace of data change you’ll have a much better schedule of iteration and ultimately, performance in the form of incrementality. After all, what is more important than seeing a new VCV outperform an old one?

When you are trying to move the needle on nuanced customer metrics for an organization that collects and stores a large quantity of transactional data, you need a methodology to iterate fast and you need digital artifacts that will support the process. Our quarterly VCV sessions have really been helping our clients move at the speed of their customers and they help bring cross-functional teams to the table aligned on one vision and plan.