Just as diversification is at the heart of investing, it is also important to media…
As someone with a decade experience in adtech, I’ve seen the industry evolve thanks to tech innovations and data collection, connection, and segmentation. Alongside all this change, brands and publishers’ North Star has remained constant: getting to know customers better. How do we cut through the noise, find customers across a fragmented media landscape, and better connect with them whenever, wherever, and in what modality they want?
Strong customer relationships are built on knowing your audience, inside and out. In order to create true value for your customers, you have to understand more about them. What hobbies they like, where they shop, what they shop for, what they watch — you get the point. This is true of all brands, but especially challenging for QSR (quick serve restaurants). Many marketers rely on their first-party data to get to know their customers, and that’s a great first step. QSR brands are quickly finding ways to collect first-party data, but like other verticals, they may be missing out on the bigger picture.
First-party data is data collected from your own view of the consumer. For example, advertising campaign results, website visits, email subscriber lists, mobile app data, etc. While extremely valuable, this is a SLIM view of your customers as it only reflects their activity within your universe. What about what these customers do outside your restaurant and in the real world?
By just relying on first-party data, you’re only seeing a pinhole peek into what your customers are all about. To truly understand your customers better — and find other potential customers — QSR brands should seek to create a panoramic view by working with other data providers who can complement your knowledge and audience insights.
At Lotame, we help agency, marketer and publisher clients navigate and extract value from data to help them achieve the panoramic view of the customer.
I’ll be outlining some solutions for QSR brands specifically in my upcoming session “What A View! You Should See the (Customer) Panorama From Here” at the MediaPost Brand Insider Summit in Scottsdale, Arizona on February 17, 2020 at 10:30 am.
Following my session, we’ll be sponsoring a coffee break and holding a raffle for one lucky winner onsite to win a GoPro so you can capture your panorama shot!
If you want to chat, you can send me a note at events@lotame.com to schedule some time in person. I look forward to seeing you in sunny Scottsdale!
Follow the conversation on Twitter: #MPBISQSR
About Jason Downie
As Chief Revenue Officer at Lotame, Jason evaluates market opportunities, refines product positioning and drives growth for all business lines, while also continuing to lead the data team he built from scratch 10 years ago. During his tenure at Lotame, Jason has grown the company’s data business into one of the world’s largest data exchanges, with first-hand experience working directly with global marketers and agencies to drive successful outcomes. After graduating from the Wharton School of Business at the University of Pennsylvania, Jason spent 10 years at Bain and Company, consulting for a range of companies in the Fortune 500. Prior to joining Lotame, Jason spent more than a decade as an entrepreneur in various fields. Connect with Jason on LinkedIn.
