Restaurant Marketing: How to Use Real-Time Data to Increase Loyalty on bdex.com

Restaurant Marketing: How to Use Real-Time Data to Increase Loyalty

Readily available data can help restaurants connect with their customers and strengthen those relationships online – which can be key to remaining competitive

The competitive landscape for restaurants is as intense as ever. No eatery – whether chain or “mom and pop” – can afford to ignore the wealth of data that can help them create and maintain ongoing customer relationships.

At BDEX, we consider this a principle: The more competitive an industry is, the more those in it will need real-time data to enrich those customer relationships. And when we think of competitive business segments, few can beat the restaurant game, with its endless number and variety of competitors.

The winners in any marketplace are the ones who dynamically identify customer wants and needs and fulfill those desires elegantly. But whether it’s an established local chain or the new upscale brasserie in town, how can a restaurant hope to contend with big brands – on both the low and high end – that can dedicate considerable sums to their data-gathering efforts?

First, size isn’t everything

A local restaurant or small chain – where the owners are often on premises and the staff is encouraged to bond with and get to know the patrons – is better able to form real person-to-person relationships with them. This gives them a significant advantage over the large national chains when it comes to creating customer loyalty.

Smaller operations are also closer to the ground. The person using the data is far less removed from the customer than the people running that competing chain from a distant corporate office. This gives small restaurants or groups a massive advantage because when they get their hands on the data, they can understand how it applies to the real world and gain actionable insights from it.

That puts them way ahead of most companies. Case in point: A study from Forrester and DataStax found that 95 percent of companies can’t make sense of customer data and struggle to get much meaningful insight from it.

Fostering “Human Connectivity”

It’s probably a good bet that any successful restaurateur is a good host, adept at making people feel welcome and connecting with them. An effective customer marketing plan supercharges that ability by enabling them to connect beyond their doors and invite customers to come back for new dining experiences.

That begins with the customer list, which operators can cull from point-of-sale data. Transaction data can give restaurants a picture of those patrons, revealing how often they dine at the restaurant, how much they spend, what time of the day they prefer, whether they tend to order from the wine list and those who have visited just once.

By matching that list to customers’ online accounts, restaurants can:

  • Connect with them online, through such avenues as social media, email, and newsletters, as well as offline.
  • Tailor marketing messages to the customer’s profile to entice them to come in more often.
  • Keep the lines of communication open between visits, and even create an opt-in email list that will keep the eatery’s biggest fans in the know on its latest offerings, promotions, and general news.
  • Through geofencing, restaurants can use location data to know when customers, or even prospective diners, are nearby and then make efforts to get them to visit.

The most successful restaurant operations will use data to cultivate repeat customers and keep them loyal – which is one of the first things investors look for. Being able to connect with your diners often means they’ll visit more often, spend more and refer their friends and colleagues. That means, of course, more customers. And in such a competitive industry, that can translate to not only surviving but thriving.

BDEX is committed to building the data infrastructure restaurants need to power human connectivity. Call 917-410-6616 or use our website contact form to learn how marketing solutions from BDEX can help you reach out to your best customers and keep them in the fold.

The Martech Training Boom on bdex.com

The Martech Training Boom

The Martech arms race is creating tremendous demand for trained and certified digital marketing professionals. Trade organizations, for-profit companies, colleges, and universities are responding with a growing array of online and in-person options.

One of the primary challenges facing CMOs today is developing in-house digital marketing expertise needed to harness the power of in-house and third-party data.

Many companies are working to bring core data marketing technologies as well as digital marketing and advertising functions in-house. The effort will require not only spending billions of dollars on IT infrastructure but training or recruiting thousands of employees needed to build, maintain and run highly complex and often AI-enabled systems.

Marketers need new skills

A traditional marketing or advertising education consists of a bachelor’s degree in advertising, marketing, or journalism, with classes on consumer behavior, market research, sales, and the like. As marketing has become increasingly data-driven, marketers must continually build upon that foundation by becoming fluent in a wide and rapidly changing array of technologies and platforms.

Today’s marketing ecosystem is complex and poised to get more so as data continues to grow exponentially. In 2019, digital voice assistants and smart TVs will swell the amount of real-time data signals available to marketers. As the torrent of consumer data grows, companies need employees who can decide which data matter and how to integrate it into an increasingly complex data marketing infrastructure and strategy.

To stay competitive, CMOs are increasingly turning towards training and certification programs. Below we highlight just a few being offered by reputable trade organizations, companies, and academic institutions.

MarTech® Conference Workshops

MarTech® offers a variety of workshops at its conferences designed to provide marketers a deep dive into such topics as agile marketing, customer data platforms, buying marketing technology, creating connected experiences, or building a marketing team with talent optimization. Workshops offered at MarTech’s recently concluded conference in San Jose, California included “The Right Way to Buy Marketing Technology,” “Using CDP to Make the Most of Your Customer Data,” and “Agile Marketing Advantage.” The company’s next conference, MarTech® East, is scheduled to take place in Boston in September 2019.

IAB training certifications

The Interactive Advertising Bureau (IAB) offers certifications in Digital Media Sales, Digital Media Buying and Planning and Digital Ad Operations.

More than 9,500 participants representing more than 300 publishers, agencies, and ad technology vendors have enrolled in IAB’s certification programs since they were established in 2012. Many of the nation’s leading media companies—including AOL, Bloomberg, CBS Interactive, Collective, Condé Nast, Discovery Communications, NBCUniversal, Time Inc., Time Warner Cable Media, and Tremor Video—have pledged to have all eligible digital sellers across their organizations become IAB-certified.

The Digital Media Sales and Digital Ad Operations programs earned the American National Standard Institute’s (ANSI) first accreditation in digital advertising in 2015. The ANSI accreditation process, based on international benchmarks, increases the integrity, confidence, and mobility of certified professionals, and represents the highest standard in personnel certification.

Shoptalk

Shoptalk launched two education initiatives at its 2019 conference, which drew 8,400 people to Las Vegas from March 3-6. The first is a standardized set of sessions referred to as Shoptalk’s Core Curriculum, which covers many of the fundamentals of retail and will be repeated annually with updated perspectives and examples.

Shoptalk also launched an Annual Retail Education Certificate which is awarded to those individuals who complete 10 credits of continuing education at Shoptalk conferences. This certificate helps recipients distinguish themselves at a time when there is a significant divide in retail industry professionals’ knowledge of digital innovation.

Collegiate degree and certificate programs

A growing number of academic institutions are offering certification programs, ranging from community colleges to elite business schools such as Wharton at the University of Pennsylvania and the Kellogg School of Management at Northwestern.

Duke University has partnered with Simplilearn, an online training provider, to deliver a curriculum that provides students with advanced knowledge of the eight most important digital marketing domains and includes real-world projects and virtual simulations for practical experience. The program offers hands-on simulation labs and projects for practical learning with 350 combined instruction/study hours. Completion of the program meets the course criteria to sit for the Online Marketing Certified Professional certification exam.

As one of the world’s first data exchange platforms, BDEX is dedicated to building the infrastructure to power human connectivity. Contact us today to learn how we marketers access the best third-party data inexpensively, quickly and easily.

MarTech M&A Accelerates on bdex.com

MarTech M&A Accelerates

Could the big surge in MarTech deals last year signal the end of one wave of consolidation and the beginning of the next? Either way, it’s clear brands are more focused on harnessing data to connect with customers than ever.

In a synopsis of 465 mergers and acquisitions that took place in the advertising and marketing world last year, the consulting and publishing firm R3 Worldwide concluded that the consolidation that swept through the agency world in recent years finally spilled over, into and around the MarTech stack.

R3 estimated global M&A spending in the industry rose 144 percent to $33 billion in 2018 but noted that only 20 percent of transactions completed involved a global holding company. The overwhelming majority of growth came not from a global holding company acquiring an agency but from what R3 dubbed “unconventional buyers” targeting MarTech companies.

“M&A activity in 2018 signaled that the grand view of MarTech is becoming actualized and 2019 will be about how companies move beyond facilitating the intersection of marketing technology and management to real integration into the enterprise,” Greg Paull, principal and co-founder of R3, wrote in the report.

The activity is being driven in part by global CMOs, who after years of experience with digital marketing are opting to bring more expertise and technology in-house in a bid to extract more value from their own data and streamline sprawling – and often less-than-transparent – marketing supply chains.

Consolidation hits the MarTech Stack

In terms of targets, personalization remains front and center, as evidenced by Walter J. Thompsons merger with Wunderman. The two companies said they combined to create a one-stop, data-driven creative shop capable of meeting the needs of global brands.

“We already share many core clients, who will now have simpler access to our combined expertise,” the companies said in a joint statement announcing the merger. “And, as technology reshapes marketing, we have existing partnerships with Adobe, Amazon, Google, IBM, Microsoft, Salesforce, and SAP.”

Adobe spent $4.5 billion to acquire Marketo, while Salesforce.com acquired Cloudcraze in deals each company said was aimed at bringing MarTech to the lagging B2B sphere. Forrester predicts that U.S. B2B commerce will grow from $889 billion today to $1.2 trillion by 2021.

“The imperative for marketers across all industries is a laser focus on providing relevant, personalized and engaging experiences,” Adobe’s Executive Vice President and General Manager Brad Renche said of the $4.5 billion deal to acquire Marketo. “The acquisition of Marketo widens Adobe’s lead in customer experience across B2C and B2B and puts Adobe Experience Cloud at the heart of all marketing.”

Salesforce also gobbled up Mulesoft to help companies unlock data across legacy systems, cloud apps and devices; as well as Rebel, which allows brands to “turn emails into an extension of their website or app – collecting data, removing friction from the conversion process, and enhancing the customer experience.”

Smaller, but potential seminal deals included Singapore-based InMobi’s decision to acquire Reserve for $90 million and as part of its plan to launch the world’s first, largest and most transparent in-app and video programmatic exchange.

What do these M&As signify for the industry?

The deals signaled an acceleration of consolidation in the MarTech space being driven in large part by global CMOs eager to rationalize their marketing supply chains. Clearly, investors have heard their plaints and are rushing to stitch together companies that can provide integrated solutions spanning the entire length of the customer journey from content marketing to programmatic advertising, check out and customer loyalty programs.

The quest for ever deeper levels of personalization was apparent in both the Adobe and the Wunderman Thompsons deals, which hinge in part on the bet that data can be used in new ways to not just automate marketing but inspire creativity.

The BDX data difference

The one thing all these deals have in common, of course, is that they will either add to the volume of third-party data or rely on it to succeed.

As one of the world’s first data exchange platforms, BDEX stands ready to help marketers access the best of that data as inexpensively, quickly and easily as possible. Our 100 percent deterministic cross-device matching and a uniform taxonomy spanning more than 5,000 industry categories enable us to verify and aggregate more than 900 billion data signals generated by tens of millions of U.S. consumers in real time.

We do this so marketers can focus more on marketing and less on scrubbing data – or who owns which layers of their marketing stack.

Why not call 917-410-6616 or contact us today to see how BDEX is building the infrastructure for human connectivity that can help take your personalization, real-time targeting and other marketing initiatives to the next level.

10 Ways BDEX Helps Auto Marketers Reconnect on bdex.com

10 Ways BDEX Helps Auto Marketers Reconnect

Auto dealerships depend on customers returning for their vehicle servicing needs, but when warranties end, this can stop. Without the right customer data, efforts to reconnect fail from the start

The owner of a large automotive marketing company was recently discussing how bad the data he was receiving really was. He bought a list of leads based on bank information or expired leases, but the first 50 phone numbers he dialed were either no longer in use or being used by someone else. The numbers were no good.

“My data sucks,” he told Warren Miller, vice president of business development/automotive for BDEX. “I was told to call you guys because I hear you have something nobody else has.”

Accurate, comprehensive data is the lifeblood of the automotive industry, not just because there is so much competition for new car buyers, but because customers often stop bringing in their cars for servicing once their manufacturer’s warranty expires. Given that the National Association of Automobile Dealers estimates the average dealership gets about half its revenue from the service department and a quarter from selling used cars, staying in touch with these customers is vital to today’s auto dealership.

By layering BDEX’s nearly 1 trillion real-time data signals over the dealership’s data, a marketing agency can find dozens of ways to reconnect with customers who have fallen off their client’s radar screen. How does BDEX do this?

First, unlike dealerships, BDEX ties everything to a unique customer identification number (Customer ID), rather than a VIN number. Second, we monitor real-time data signals from hundreds of millions of smartphones and use 100 percent deterministic cross-device matching, which means we can match customers in the dealership’s customer database to a Customer ID no matter how many times the individual has traded in their car, smartphone or changed their email addresses.

Not only is our data constantly updated it’s also far more comprehensive. Thanks to partnerships with more than 100 data providers, the BDEX Data Exchange Platform (DXP) can provide not just valuable clickstream data, but where a former customer has been servicing and fueling their vehicle, or what competing dealerships a prospect has visited recently. Today we have 8.5 billion data points in our Personal/Automotive dataset class.

“The results are just tremendous,” Miller said of the improved performance automotive marketers are experiencing with BDEX data. “That’s why we do so well. That’s why people love us.”

Here’s a look at 10 ways that marketers can use real-time data signals from the BDEX data exchange platform (DXP) to help dealers reconnect.

10 ways real-time data signals help dealers reconnect

1.  Tracking who’s visiting a dealership lot

A geofence is a perimeter of an area where you’re gathering data. Think of it as a virtual fence around a location that can be big or small, a whole city or a square foot. Or, your car lot.

The benefits of geofencing data are endless when it comes to marketing, especially for auto dealers. You can track who comes in and out of any dealership lot and follow up with them afterward or send them a targeted ad.

2.  Tracking courtesy vehicles

When a customer needs alternate transportation while his or her vehicle is in the shop, you can track the courtesy vehicles you loan them. This allows you to see when they enter or exit your lot, and if they’re visiting competitors’ lots.

3.  Tracking after-market service station visits

POS data, or purchase data from cash registers, allows you access to customers who have visited after-market service stations for oil changes or other services or auto parts dealers. For instance, you could decide to mail a coupon for an oil change to car owners who just paid for an oil change at a Jiffy Lube.

4.  Tracking when customers’ leases expire

BDEX allows you to receive data about customers who are currently shopping for cars or those who have a car lease expiring soon. This means that they’ll likely have a new vehicle to bring in for servicing needs again soon.

5.  Sending alerts to participants at tradeshows

Geofencing can help you track customers who come to tradeshows, and you can connect with them immediately so they’ll be more likely to visit your booth.

6.  Contacting customers if they go to a competitor’s lot

Another big benefit of geofencing is that you can actually create a virtual fence around a competitor’s lot. This way, you can send ads or alerts to customers who are visiting those lots.

7.  Separating types of vehicles on your lot

To target marketing efforts even further, you can create a geofence around a portion of your dealership lot. This allows you to send ads for, say, SUVs when a customer is in an SUV section, or high-end luxury vehicles. And, you can do the same in competitors’ lots, which helps if you’re trying to reconnect with a past customer.

8.  What car brands customers buy

BDEX data can show you which brands customers buy, which allows you to target their specific wants and needs in a vehicle.

9.  Layering with clickstream data

Clickstream data, which is data from customers or potential customers’ computer, smartphone or other connected devices can provide valuable insight into where a prospect is in the sales funnel, including the class, brand, price range and option packages that interest them.

By layering clickstream data with the geofencing data that BDEX provides, you’ll have a much more accurate picture of where prospects are in the sales funnel.

10.  The type of gas or tire brands customers use

To better target your ads and messages, you can find out which types of gas or tires customers use by using POS data. Or, you can set up a geofence around certain brand service centers to get this information.

BDEX uses and monitors 900 million of these real-time data signals to identify and reach customers who are ready to buy. This data is important in recognizing where customers are in their path to purchase, allowing auto dealerships valuable insight into buying behavior.

Call Warren Miller today (937) 581-9390 or email him at warren@bdex.com to learn how BDEX can transform you automotive marketing.

2018 Year in Review. Data Overload on bdex.com

2018 Year in Review. Data Overload

The proliferation of unstructured data seen this year is poised to accelerate in 2019 and BDEX stands ready with an infrastructure built to power human connectivity.

One of the recurring themes to emerge in 2018 was data overload. The ability of humans to generate data continued to outstrip our ability to understand and act on it. In 2019, there will be the additional challenge of structuring the growing torrent of data from so many disparate sources.

Amid all the excitement about the convergence of Big Data, Artificial Intelligence (AI) and the Internet of Things (IoT), however, some still ask if all the data is going to make us any smarter?  Is it really going to make marketing more efficient, more precise, more effective?

At BDEX we are confident it will because we have spent the last five years building a proprietary data infrastructure to power human connectivity. Today, our platform tracks more 800 million connections between email and mobile IDs and cookie and email IDs to make sure we can connect our customers to the right people on the right device at the right time. We have curated more than 5,500 data classifications that enable our analysts to produce targeted customer lists with unprecedented accuracy, granularity, and speed.

We see the value of these investments being validated every day in the marketplace. As 2018 draws to a close, it seems like a good time to review how and why we have built our infrastructure and what marketers can do with it. So here is a curated list of some of the articles we published on our blog last year.

We look forward to publishing new articles next year and will strive to make them as accurate, timely and actionable as our data. Stay tuned.

The BDEX advantage

BDEX is Not a Typical Marketing Data Company

The BDEX Data Difference

The Ins and Outs of Our Data Exchange Platform (DXP)

Why a Subscription Model Makes Sense for Targeted Marketing Data

How BDEX powers human connectivity

Find Your Ideal Customers with Our Taxonomy Explorer Tool

Device-Matching Connects Customers with Devices – and Businesses with Sales

Getting the Channel Mix Right in Target Marketing

Which Vehicles Will Drive the Success of Your Marketing Campaign?

How specific industries use BDEX to connect

Data-Driven Direct Marketing for Auto Dealers

Customer Targeting Made Easier for Media Companies

How Can Retailers Better Target Customers?

Automotive Marketing Case Study: Maher Chevrolet

How BDEX sees the future

AI on Target to Change the Way We Market

The Future of Data Promises the Perfect In-Store Marketing Experience

The Future of Data Promises the Perfect In-Store Marketing Experience on bdex.com

The Future of Data Promises the Perfect In-Store Marketing Experience

Data-driven solutions taking shape on the shop floor will match gender, age, ethnicity, and shopping habits to what’s on offer now

The days of aimlessly wandering the store in search of a deal or a “you” item look to soon be over. Brick and mortar retailers are embracing the latest in data technology to recognize and serve visitors like never before. Device matching, real-time targeting, and even budding facial recognition tech are eroding the notion of searching for a new customer. It’s now possible to know someone who wants to buy the moment they walk in.

How real-time data provides the most actionable marketing possible

Speed of transmission and lack of detail were two old enemies of in-store marketing. They’re becoming obsolete in an era where almost the instant a customer expresses an interest in/buys a product, a retailer can be notified and be able to target that individual with relevant content.

How is this possible? Smart uses of data like device matching and geofencing are two methods which create a purchasing portrait of prospects across every major demographic. Device matching with BDEX allows retailers to market to consumers across multiple devices and channels as the data link a consumer’s search/purchase activity via mobile, email, social media, and other avenues.

Geofencing creates a data map of all the physical retail locations a potential prospect has visited. This is useful because it shows they’re actively and physically searching for an item or service. Internet browsing data is valuable, but geofencing further isolates a consumer who’s actually visited a certain type of business. This is one of the reasons why BDEX data can drive and support in-store marketing so effectively.

We repeatedly test our data to authenticate its accuracy and currency to sidestep the pitfalls of outdated or “too broad” data – and we enable our customers to buy only the data they need. Our tailored approach allows retailers to create a dynamically-informed marketing effort that never sleeps. Actionable prospects can be marketed to in their home, via their mobile device on the go, and even when they visit your location.

The latest in-store marketing is a customer service gold mine

When a prospect has entered a store, data has the potential to really close a sale. Modern digital signage can be updated on a single screen or storewide to display offers relevant to specific viewers. Imagine a scenario where a prospect checks in and you know exactly whom is watching your in-store screen – and precisely what they’d been browsing only an hour before.

Interactive digital displays provide the same tactile satisfaction as customer cell phones or other touchscreen devices. In fact, this in-store marketing sector is set to exceed $20 billion by 2024. Nevertheless, all the digital signs in the world are just flashy eye-catchers without being powered by actionable data.

Who’s marketing in-store and why it’s working

Ralph Lauren has integrated in-store digital into their changing rooms to powerful effect. Embracing this kind of innovation has provided real-time data on customer purchases (or lack thereof) and tripled their sales forecast while increasing customer engagement by 90%. McDonald’s is realizing the potential of onsite touch screens as an alternative to face to face orders. They’re also reviewing cell phone ordering, along with other chains that have successfully implemented the technology.

The supermarket sector (including the Walmart brand) understands how data is vital to staying competitive. They’re using it to engage in-store customers in a personal manner. The retail giant has even registered multiple patents to take their data-driven marketing into the future, an effort that sees them calculating 2.5 petabytes of data … every hour!

Clearly, the potential for data-driven in-store marketing is vast. Customers engaged by relevant, real-time data will interact further with your brand, providing even more data to enrich your understanding of that customer’s needs and build a lasting relationship. Current and future technology will allow stores and customers to connect at every point on the retail journey – from first thought to final checkout.

BDEX is the first-ever Data Exchange Platform (DXP). The BDEX DXP and DAAS platforms enable companies to acquire impartial, quality-scored third-party data reaching the right people at the right time. You can call at (917) 410 – 6616 or email us at info@bdex.com