“CDP” is short for “Customer Data Platform.” CDP’s have become a must have tool for for marketers for important business reasons.
First, CDP’s unify all of your Customer Data (POS, Olo, website, loyalty, mobile, demographic, behavioral, predictive), and make it easy for any team member to easily use these data assets to create and incremental revenue opportunities, and identify hazards to your Guests future value.
BuyerGenomics is a Predictive Cusomer Data Platform that’s natively integrated with Olo, and works with virtually any ordering, POS, or reservation system which makes it easy to start growing the business.
Today, restaurant chains of with about 15,000 total customers or more must have a CDP. Restaurant brands futures are being ever more controlled by digital intermediaries (OpenTable, GrubHub, Uber Eats, etc). A restaurant CDP enables restaurants to find opportunities in their customer base, grow relationships with customers and most importantly –control their own destiny.
Delivery app-based intermediaries sometimes called “digital interlopers” continuously seize all customer relationships at scale, and block brands from their own customers. They exert market dominance over chains who don’t proactively manage and optimize the guest relationship –both online and off. BuyerGenomics is the powerful alternative to being dis-intermediated from your Customers.
Google’s Chrome browser has is preparing to stop supporting “3rd party browser cookies” (Chrome is #1 browser with a 79% market share). Concurrently Apple has eliminated 3rd party cookies on its devices.
The conclusion shared by all in the digital marketing community —the future of advertising is 1st Party Data (that is –your own customer data). A is not only the most efficient investment in growing your business, its also the most effective.
As a result all web driven businesses are hurrying to take control of their customer data in order to use it to drive revenues from both net new and existing customers.
A proven CDP also helps marketers to know their Guests in higher resolution. For example, the BuyerGenomics CDP will automatically distinguish between very different kinds of guests. It can target a higher potential guest for customer acquisition, while sending more relevant messaging for that type of guest to drive repeat purchase. It will also help you to avoid guests who dine once and never come again.
BuyerGenomics also predicts when a guest is most likely to make their next purchase, and sends a personalized email to capture the sale. If they don’t convert, BuyerGenomics will then predict when they become at risk of attrition and execute a Guest-Rescue campaign automatically. Brands rake in hundreds of thousands of dollars rescuing guests this way.
The results are consistent –higher quality net-new guests, increased retention, improved decision making, less one-time buyers, and higher revenue and profit.
What Can I Accomplish with Customer Intelligence?
Most marketers want to understand what guests ordered and how much they’ve spent –or how many times they’ve been to a store or ordered online ―and BuyerGenomics delivers all of it.
However the most powerful insights are knowing who your Guests really are —that is, having a high resolution 360 degree view of your customer and what critical similarities and differences exist between them and insight into how to act on them to grow the business.
Knowing who your best, marginal & least profitable customers are –and what makes them so spend and behave so differently is game changing for restaurants.
Examples of these differences that you can leverage in your communications include: are guests older, middle aged or younger? professionals or blue collar? Are they well off? Middle class or fabulously wealthy? Do they have young children at home or not? Married, single or separated. All of these affect their choices and the intensity of how their consumer behaviors are expressed.
When asked “who is your customer” most marketers will loosely describe one type of customer they have…. and that’s the problem.
The simple reality is, your Guests are not homogenous (all the same) they are invariably heterogeneous (different). Most brands have 3-5 essential segments of Guests.
These are individuals who are different from one another in important (and predictive) ways. Those differences can be embraced and celebrated in targeted messaging, offers and communication. Its messaging that works best for the Guest… on their terms.
This stacks your customer base with higher quality, higher potential customers, and makes growing their value easy, personalized and automated.
Third party delivery apps like Grubhub, Uber Eats, Doordash, and Seamless represent a massive amount of order flow that restaurants have come to depend on.
Concurrently, these platforms are the Amazon’s of the category —as they own the customer, not the brand.
This is the latest market to experience aggressive digital disintermediation –the loss of access to their customers, and the loss of control over the fate and future of their business.
BuyerGenomics solves this problem by helping you quantify the value of each digital intermediary, and showing you how to make those platforms best serve the business. Rational choices and options replace what in many organizations is acquiescence and apathy to controlling the future of the brand, and competing inside a closed app environment where brands are “cloned” by countless ghost kitchens in every market.
Pick One… Average Guests or Great Guests?
Discovering the difference between a good guest and a great guest is an eye opening exercise. While surely all Guests have value, some greats have 5 to 26 times the value of the average Guest.
We call these Great Guests your “Optimal Customer” –that is a Guest who spends more per check with you more, and more often ―-by a large measure.
When BuyerGenomics makes it effortless to discern the profile of a Great Guest, it is also effortless to acquire new high potential Guests who go on to outspend their peers not by a percentage ―-but by a multiple.
So if you spend money on advertising to acquire a net new Guest, would you rather acquire a Guest who spends $770 over their lifetime, or a 1x buyer who spends $25?
Using BuyerGenomics proprietary BG Personas, you can ID exactly who has the highest potential, and effortlessly find them online. BuyerGenomics is integrated with Facebook Advertising and automatically finds and synchronizes your Optimal Customer as an Audience in Facebook. The results are consistently in the top 15% of all Facebook Advertising campaigns. While it works best with a population of at least 1,000 Optimal Customers, it starts working with just 100 customers, that BuyerGenomics ID’s automatically for you..
Most restaurants “blast” emails periodically to generate reservations, orders and in store visits. BuyerGenomics makes it easy to capture every opportunity through using machine learning to predict when each individual customer is about to spend again, and ensures they spend with you.
BuyerGenomics also can predict when one or more of your guests is fading in loyalty and moving into attrition. This full automated system keeps your guest engaged and spending –with a watchful eye on the current state of every customer relationship it’s ready to act at the ideal time and deliver the right message to each customer.
BuyerGenomics has a built in email service provider, BG AutoPilot, that responds in real time and generates a much higher quality communication, and higher performing email marketing –autonomously.
See how BuyerGenomics empowers restaurants with Customer Intelligence, Optimal Customer Acquisition, and to retain and grow guests to peak value.
If you have at least 15,000 existing customers that have dined with you and you can be identified via email, phone number and/or postal address, and the data from their transaction (already in your Olo or other transaction system) you are eligible for no-cost evaluation subscription to BuyerGenomics –you can see for yourself, how you can grow revenue with mathematical certainty and get our 5X ROI Guarantee.