From Startup Lytics
Three key advantages leading quick-service restaurants should expect from leveraging a customer data platform
Originally posted on Medium.com
As Customer Data Platforms continue to gain more buzz in the MarTech landscape, the number of potential industries and use cases are expanding rapidly. One that’s getting a ton of value from CDPs currently is the QSR industry. More and more, companies like McDonald’s, Panera, and Starbucks are becoming equally as focused on technology and consumer experiences as they are their actual food.
Here are a few ways that QSRs can leverage a CDP to help personalize consumer experiences:
1. Improved ad targeting & lookalike modeling
For years, companies have relied on DMPs to drive the majority of their ad spend. Though these efforts have been reasonably effective, they’re quickly becoming outdated, expensive and simply not personalized/targeted. I challenge anyone to look up their profile in any public DMP registry. What you find, may be a bit troubling. I’ll use myself as an example…
BlueKai currently believes that I’m a huge fan of The Academy Awards, have multiple kids, and have the shopping behavior of a Mom with a newborn… These segments simply don’t make any sense for me (side note: in reality, I’m a 29-year-old bachelor, no kids, with an affinity towards golfing & beer drinking). And the worst part of all, companies are spending millions of dollars to leverage this type of data for ad targeting.
CDPs, like Lytics, enable users to leverage their own 1st party data to help influence ad spend techniques, as opposed to purchased 3rd party audiences that are likely filled with inaccurate data. For QSRs, this means the ability to only spend ad dollars on people who are likely to purchase, tailor ads based on an individual’s content/product affinity, run lookalike models against people who have high a CLTV, etc…
For many Lytics’ customers, this is one of the first use cases they tackle because of the immediate ROI/savings.
2. Real-Time Personalization at the Kiosk
One of the core competencies of CDPs is the ability to build real-time profiles based on all first party attributes of an individual. This means web behavior, email interactions, past purchases, loyalty membership, etc… Lytics provides a real-time profile API that allows QSRs to pass an individual’s profile and preferences through to their in-store kiosk systems.
As restaurant kiosks become more and more prevalent, the ability to pass an individual’s profile through to the kiosk enables companies to extend “personalization” past the online world and into their in-store experiences.
Think: Only showing vegetarian options on the display to people who don’t eat meat.
FLICKR: MCDONALD’S SWITZERLAND3. Coordinated, Multi-Channel Personalization
One question from marketers that’s been around forever is “how do we coordinate cross-channel experiences in a seamless fashion?” For many QSRs, a large part of the answer comes from CDPs. Without a CDP in place, a coordinated multi-channel campaign is next to impossible. Here’s a short list of features from CDPs, like Lytics, that make it a reality:
Identity Resolution: Allows QSRs to stitch together anonymous & known consumer identities in real time. This is extremely important in understanding interests and behaviors.Real-Time Profiles, Audiences & Triggers: Consumer behaviors change rapidly. The ability to track this in real time is a must. Also — the ability for audiences to update in real time based on these interactions is crucial for triggering coordinated downstream marketing campaigns in multiple channels.Content Affinity Enrichment: This proprietary Lytics feature allows our customers to fully understand the true interests (products or content) of each individual at any given moment in time.Real-Time Integrations: Integrations allow marketers to automate multi-channel campaigns (based on a single audience). Opposed to the old school version of this which required manual CSV uploads, Lytics’ API-based integrations make it simple to automatically sync a single audience into multiple downstream locations and allow that audience to update everywhere it’s being exported to in real time.As QSRs begin to move towards online ordering, eCommerce, online loyalty programs, etc… the ability to coordinate downstream campaigns across email, push, ads, and onsite messaging will quickly become table stakes.
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