“So many franchisors are still discovering the tremendous value in their data assets. They don’t know what they have.”
—Sean Johnson
CEO, Deliver Media
Most companies have been collecting customer data, yet many have only scratched the surface of their potential goldmine. That’s because finding the jackpot takes the right combination of data plus human leadership.
What does a data-driven approach do?
A data-driven approach steers toward more revenue using facts as a guide. What can data analysis do for your business?
Focus in to find new customers
Targeting is one of the shortest leaps from data insight to action. This strategy uses a predictive model. A data analysis model is like a color-filtering decoder lens that reveals a selected group.
On-demand home services and senior home health care often find great value with this approach. Combining predictive modeling and analysis makes it twice as likely to identify high-value targets and market the right offer to them.
Predictive modeling combines historical first-party customer data with third-party consumer data to decode past behavior and predict future behavior. This method uses machine intelligence to sift and sort potential customers into groups. Data analysts can build an algorithm that learns more with each analysis to better pinpoint high-value groups.
Franchise marketers can optimize spend by targeting those groups with acutely relevant messaging via the most effective channels.
Predict churn to retain customers
Data-driven decisions are smarter decisions. When data analysis identifies behaviors that predict attrition, marketers can move to intercept. Data without direction is useless. It takes franchise experts to apply their business instincts and decide the next best actions.
A customer retention model focuses on making those actions more effective. It allows marketers to see through their customer’s eyes, hearts, or even stomachs to provide the greatest value for them. It’s all about customer needs and preference.
Technology fuels hyperlocal reach. Customer advocates can get a fix on each unique market. Franchisors use facts to discover the true differentiators that connect with customers, even when that varies across locations. Misplaced efforts evaporate under laser-focused custom strategies. Find the right link and strengthen customer loyalty.
Data discovery:
Best prospects book appointments
- Client: ShelfGenie franchise
- Need: High-quality leads & booked appts
- Approach: Data analysis & targeting
- Strategy: Narrow 500,000 prospect pool to 50,000 high-value targets
- Results: Lower cost/lead with near 80% setting appts
Improve customer experience to surprise and delight
Customer data contains critical information that translates into the personalization customers expect – and wow-moments beyond that. To keep today’s savvy customers, franchises must deliver experience that resonates on a hyperlocal level, fulfilling a specific combination of needs. The result? Every interaction is more engaging.
Score more points by analyzing more data points. With robust analysis, unique customers segments reveal additional insights that hit home throughout the customer journey. New buyers should feel ushered into a valued relationship. Customers clamoring for a particular feature should be first to know when it’s available. With more knowledge, a marketing strategy can better showcase business service soul.
Win back customers
Regain lapsed customers using a rejuvenation data model. This ranks customers based on their propensity to return. That information guides spending to reach high-value clientele. Tailored offers and a selective targeting strategy beat a one-size-fits-all discount storm.
Gain channel insights
Right message + right time + right place has always been the key to engaging consumers. A data analysis that answers those questions should have a seat at the table. Efficiency in marketing is multiplied when guesswork is minimized. With data-informed campaigns now possible in almost any medium, multi-location marketers can choose the right mix of traditional and digital channels. Fulfil preferences for a greater variety of customers. Machine learning continually improves segmenting and action match. The payoff? Higher response rates and optimized spend.
Data discovery:
Hyper-targeted direct mail lures lapsed buyers
- Client: Domino’s franchisee with 24 stores
- Need: Revive past customers
- Data model: Lapsed customers likely to respond to promotions.
- Strategy: Mega postcard with multiple, aggressive coupon offers & images.
- Results: Soaring response rate. Incremental revenue up 600% ROI over 28 days.
Dig into data without getting buried
An optimized analytics system makes working with data worthwhile. It hinges on managing and interpreting an enormous amount of information. Set up clear goals before identifying action – then measure and track results.
Get your guide to gold: Start with a data analysis consultation.
Data discovery:
Facebook timing lifts lunch orders
- Client: Domino’s pizza 2-store franchisee
- Need: Capture midday carryout
- Data model: Predictive
- Strategy: Precisely timed Facebook ads
- Results: Huge gain for small spend. Initial campaign ROI of 731%. The 28-day campaign ROI reached 2412%.