Getting the most from customer data – a key asset for franchising growth
Increasingly in the future, when an international franchising business is asked to identify its most valuable asset, it may well point to its customer data. Inexhaustible developments in technology and the rise of technology for the masses mean that businesses now have access to information about how their customers tick as never before. Whereas a business might previously have run a marketing campaign based on focus group feedback, now it can target its marketing based on how individuals visit its website and use its app (on tablets as well as smartphones), as well as how they rate and recommend it on social media. Moreover, a business can perform this analysis of customer interactions on staggering amounts of data.