We're on a bit of a roll this month! Hotelier & Hospitality Design
e-magazine features a great piece from our analytics team, Data Know How, on the value of putting customer data to good use and making it pay. Follow the link to read what Mike has to say on pages 18-19, or take a look at the editorial below!
What’s the point of capturing data unless you plan to use it?
CRM is probably the most used and abused phrase in marketing right now. At Adactus, our Data Know How team use the following definition:
CRM is a customer-centric model that allows businesses to manage customer relationships based on the insights gained from data.
It is a serious, strategic, marketing approach in which decision-making is based on hard facts - not “gut instinct” or in-built prejudice. It is not fluffy. It is the appliance of data for maximum commercial gain.
Brands need to treat customers in the most appropriate way, specific to them. With the advent of digital, and in particular mobile, the world has moved from broadcast to narrowcast communication. One size does not fit all. If the Marketing Department is your communication engine room, data is the fuel.
Turning data into insight requires a blend of technical analysis and marketing skills. Our Data Know How team is made up of expert database programmers, data analysts and marketing professionals. We know what we are looking for in your data and are programmed to deliver commercial results. We can help you segment your customers based on behaviour (recency, frequency and value) and lifestyle & life-stage characteristics. We’ll identify the most profitable customers, the most loyal, those most likely to defect to the competition, which products they buy (and don’t), their satisfaction with your brand.
With this insight, you can talk to customers in a language they can relate to, with messages and offers relevant to them, retaining their custom. And on top of that, if you know what type of people most appreciate your brand, you can go and find more like them.
Mike Pearce, Director of Data Know How at Adactus, is proud of the results his team has delivered for clients. But he’s also concerned that many hotel and restaurant brands are yet to realise the value of their data, barely scratching the surface of its potential:
“Our approach has helped brands in the restaurant and hotel sectors get much closer to their customers, demonstrably improving commercial performance and marketing ROI. If you’re still looking at data analytics as a cost rather than a revenue stream – we really need to talk!“