Are you familiar with the Michael Lewis book Moneyball? Some guy named Brad Pitt also made a movie about it. If you are a baseball fan or a people analytics aficionado, you probably have at least a passing knowledge of the work that popularized the use of data for the purposes of labor arbitrage. That’s the main idea that most of us in Work Tech took away.
However, there’s a more important lesson that Work Tech sales and marketing pros should take away. The data-driven approach to the game that Moneyball spawned absolutely killed baseball’s customer experience. The use of data tilted the balance of the game in favor of pitching in defense. Teams used data to dial in pitching changes against specific hitters and deploy weird defensive shifts. Offenses tanked. Games took forever to play. Data made it suck to be a fan.
Major League Baseball (MLB) took notice. New rules this year — the pitch clock, limitations on defensive shifts, and larger base sizes — have had an immediate impact. Game times are 30+ minutes shorter, batting averages are higher, and teams are scoring more runs. If you are a fan, it’s a better experience.
Why should you care? The Moneyball approach to Work Tech sales and marketing is destroying the customer experience for buyers. Everyone is using the same playbook and intent data. Data can be used for CX good or ill. We recently spoke with a Work Tech buyer who took a product demo of a Performance Management solution and received calls from 15 other vendors within a few hours. The connect-and-convert sales motion that has been predictable and consistent for the better part of the past 15 years isn’t working anymore. The brands we see doing best are focusing on audience engagement, not forcing sales convos in a tough environment.
Your CX should create a positive perception about the time people spend with your brand. For most Work Tech brands today, that perception is not good. MLB took control of their CX problem. What are you doing about yours?
What else is going on this week?
Surprisingly strong jobs report
Funding and acquisitions
- Clair lands $175 million. The earned-wage access advance startup announced $25 million in new equity funding and $150 million as part of a new consumer lending program from partner bank Pathward, which holds the FDIC-insured accounts for Clair and provides wage advances to frontline workers. (TechCrunch)
- UpGrad in discussion to acquire Udacity at a fraction of its highest valuation. (Silicon India)
- Symfonia receives majority investment from Accel-KKR. The Warsaw, Poland, startup offers business ERP and payroll software solutions for SMEs. Deal terms were not disclosed. (FinSMEs)
- Propel gets $2.74 million seed round. The Lagos- and Berlin-based startup builds sustainable talent pipelines and helps global companies derisk the process of hiring remote talent from emerging markets, particularly in Africa. (TechCrunch)
- Zinc raises $6.45 million Series A. The London startup supports background checks and employment verification process. (Press Release)
- Tuition.io acquires Wiley’s tuition manager business. (FinSMEs)
Are you ready to make a lasting impression at HR Tech this year? We’ve got your back.
We’ve compiled the ultimate insider knowledge and strategies in our e-book, Know Before You Show: The big book of Work Tech events, 2023. It’s tailored specifically for Work Tech leaders like you who want to maximize their impact and level up their game.
- What should be in your tactical pre-, at-, and post-event plan?
- How does your growth stage change your strategy?
- What are the 5 things to remember regarding customer experience?
- How can you realize greater ROI for PR & AR?
- How can you optimize your event UX through design?
- What are the big 4 opportunities for digital media at events?
- Leadership development powered by AI: BetterUp Connect. (Josh Bersin)
- New round of layoffs at Microsoft. (Geekwire)
- Salesforce exec: The world is running out of developers. (ZDNet)
- GoCo announces breakthrough AI capabilities for its HRIS platform. (Press Release)
- InStride appoints Work Tech veteran Craig Maloney as CEO. (Press Release)
- RecruitLab rebrands as TeamDash. (Blog)
Around the shop
Things we are talking about or find interesting right now.
That’s it for this week!
Everybody love everybody,