ReportWire

Tag: Data-Driven Marketing

  • How Restaurant365 CEO Tony Smith Uses Data to Make Better Decisions | Entrepreneur

    How Restaurant365 CEO Tony Smith Uses Data to Make Better Decisions | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Restaurant365’s Tony Smith knows he’s not a social media expert. Few people are. Still, the software company executive has been able to prove that authenticity is a powerful tool for building a devoted following online.

    He believes that true connections are built on honesty, not a facade. It’s important to let people see the real you, rather than hiding behind a persona.

    “For me,” says R365’s Tony Smith to Restaurant Influencers series host Shawn Walchef of Cali BBQ Media. “I am not a master of social media, but luckily I’ve been able to build some presence there because what I do believe in is people knowing you — really knowing you for who you are — not some fake persona.”

    Tony Smith is the CEO and co-founder of Restaurant365, a company that’s helping improve the fortunes of more than 40,000 restaurants with its back-office management software. The leader stands out for his commitment to transparency and desire to help businesses thrive.

    Restaurant365, or R365, is a fast-growing SaaS company, whose cloud-based software provides a unique, all-in-one accounting, store operations, and workforce solution for restaurants. Their mission is to facilitate optimal productivity and profitability.

    With R365, restaurants can manage back-office productivity from one platform. It also integrates with your POS (such as Toast, the sponsor of this series), banks, vendors, and more. This results in less time spent on manual tasks, with improved visibility and control of the bottom line.

    Tony Smith’s journey as the CEO of Restaurant365 is a testament to the power of authenticity, the value of personal connections, and the importance of seeking help when needed.

    Leaders often find it challenging to ask for help when they spend so much time helping others. But Smith has a unique approach to avoid burnout.

    Employing a quadrant strategy to evaluate his tasks, he divides responsibilities into categories: “love it,” “don’t love it,” “great at it,” and “not great at it.” Once he recognizes areas where he doesn’t excel or doesn’t enjoy, he proactively seeks assistance.

    Tony Smith knows that trying to do everything himself would be a disservice to his company.

    “I have to be honest and admit I’m probably not the best person here to do that thing anymore,” he says. “If you do too many of those things you don’t love, that’s the burnout zone.”

    In an era where virtual interactions dominate, Tony Smith values the richness of in-person connections.

    The Restaurant Transformation Tour, an ongoing series of events by Restaurant365, reflects his passion for meaningful face-to-face encounters. He believes that personal connections are formed best when you can “rub shoulders” with someone, exchange ideas informally, and create valuable relationships.

    “I think that some of that really does come best in person.”

    Subscribe to Restaurant Influencers: Entrepreneur | Spotify | Apple

    About Restaurant Influencers

    Restaurant Influencers is brought to you by Toast, the powerful restaurant point of sale and management system that helps restaurants improve operations, increase sales and create a better guest experience.

    Toast — Powering Successful Restaurants. Learn more about Toast.

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    Shawn P. Walchef

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  • Why Business Owners Must Trust Data Over Opinions in Marketing | Entrepreneur

    Why Business Owners Must Trust Data Over Opinions in Marketing | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When it comes to marketing any business, data never lies. However, it is easy to let our personal tastes and inner voices prevail, even if we do not have the data to back it up. The business owner’s opinions certainly have a place in devising their marketing plans, but they should never become an obstacle to success. And that is why I always use hard numbers to guide my marketing plans rather than gut feelings.

    Opinions are great, but facts are better

    Working with a variety of clients across the country, I see a variety of personality types, not only in the business owners themselves but in their businesses as well. I always want to respect my client’s input. After all, they know their business and clientele best. However, most of the entrepreneurs I encounter are looking for a noticeable improvement in their bottom line, and to make that happen, they must be willing to accept that they do not always know best when it comes to marketing.

    Often, the results the business owner perceives are not the whole picture. For example, they may believe that they are getting more “duds” than quality leads when in reality, the number of quality leads they are getting has increased month to month. This skewed perception may occur because negative experiences tend to leave a more lasting impression than positive ones do. The business owner may be overhearing snippets of conversations that lead them to believe that incoming leads are lower quality than what they would like, or their front-office staff may be talking more about the so-called “bad” leads than the good ones.

    It could also be that quality leads are coming in but are not converting because the staff has not been trained well on how to handle them correctly. Whatever the case may be, many business owners will make a blanket statement about the quality of leads they are getting based on incomplete information and then jump to the conclusion that the marketing is not working.

    Related: What Is Good Data-Driven Marketing? Here Are 5 Examples of What Big Data Can Do.

    Business owners like to have a say in how their marketing looks and feels, which is certainly acceptable and very much encouraged, especially at the beginning when I am getting to know them. However, there comes a point when the marketing professional needs to take the reins, and some business owners have a hard time relinquishing control. They would rather rely on their own feelings and tastes to determine whether a marketing campaign will work or not.

    They also fail to consider that their target audience may not think or react the same way they do — and that just because they find something appealing does not mean it will work from a marketing perspective. I see this often with highly technical services. The business owner, who is naturally an expert, wants to include a lot of industry-specific terminology in the marketing because that is what appeals to them as a professional. They do not realize that technical language will not resonate with their target audience, which consists of non-professionals who know little to nothing about their field.

    Why data matters

    Marketing is a science as much as an art. Especially today, with digital technology, there are countless ways to test ideas and track results. With modern technology, there really is no reason not to make marketing decisions based on data. In fact, I always test my ideas before implementing them on a large scale, because there have been times when I thought an image or an idea would be a hit, and it turned out to be a complete miss. Testing saves time and money and leads to more successful marketing strategies and happier clients.

    I also use best practices and tactics I know that work from experience and previous testing rather than going with my gut or basing decisions on what I like or dislike because I am not the target audience, so my personal opinions are mostly irrelevant. I gather as much data as possible before, during and after a campaign and use it to make future decisions for my clients. And while my clients’ feelings are always important to me, I find that numbers and revenue make a more compelling argument when deciding whether to discontinue a marketing strategy.

    Related: 3 Tips to Achieve Growth in 2023 Through Data-Driven Marketing Strategies

    Outsource the hard part

    A sole proprietor may not have the means to establish an internal marketing department for their business, let alone the time and energy to conduct testing for every marketing decision they make. Business owners are spread especially thin without also having to take on the added burden of creating, implementing and tracking their marketing campaigns. That is why outsourcing all marketing to a professional who not only knows how to do those things but also understands how to interpret the data on the back end is always a good strategy no matter what stage of growth your business is in. Unless you have a marketing degree, it is unlikely that your expertise and experience extends to understanding marketing metrics and testing. Relying on a reputable marketing professional saves valuable time, expense and a lot of stress.

    As a marketing professional, I appreciate my clients wanting to be actively involved in their marketing strategies, but I am also not afraid to hit them with some hard data when their personal opinions start to impede their success. The numbers will always tell the unvarnished truth, giving me and my client the ability to make better, more informed marketing decisions. The best and most rewarding scenario is when the client and the marketing agency understand each other’s roles and work together to make choices based on facts rather than feelings.

    Related: Remove the Guesswork From Growth With These 4 Marketing ROI Boosts

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    Jackie Cullen

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  • 3 Ways Leaders Can Use Data to Grow in Shrinking Economies | Entrepreneur

    3 Ways Leaders Can Use Data to Grow in Shrinking Economies | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    According to the International Monetary Fund, advanced economies will see an especially pronounced growth slowdown, from 2.7% in 2022 to 1.3% in 2023. Tech leaders are facing economic headwinds, yet encounter continuous pressure to maintain aggressive revenue growth in an increasingly competitive global landscape, which begs the question: How do I shift from a strategy of growth at all costs to efficient, sustainable growth?

    Leaders need to find a way to make sense of this dynamic environment and use it to their advantage. But the growth tactics that worked yesterday will not get us through these unprecedented times.

    Related: How (and Why) You Need to Put Sustainability and Community Ahead of Fast Growth

    Against the odds

    As a CEO, you’re under a lot more scrutiny, so you need to have a way to make the best decisions while being able to provide logic.

    Changing economies are an opportunity to reevaluate decisions across the entire organization and find ways to increase throughput while doing more with less. Data-driven insights are how leaders navigate the rapidly changing market. They are how leaders lay down a foundation for long-term success, even in a down economy.

    I’ve worked as an executive through the dotcom bust, the tumultuous financial crisis of 2008, Covid-19 and whatever’s happening right now. Throughout these adverse economic conditions, here’s how objective data fuels growth strategies in even the most difficult of times.

    1. Find inefficiencies in your go-to-market engine

    Changing economies are an opportunity to reevaluate decisions across your entire organization and find ways to increase throughput. To hit the same revenue targets with fewer resources, you have to cut the waste out of your GTM engine, for example:

    • Misallocating resources to unproductive markets
    • Inequitable or incorrectly prioritized sales territories
    • Inefficient account scoring and targeting
    • Spray and pray sales and marketing campaigns

    Many companies are finding success by simplifying their strategy to survive the downturn. This means leveraging available technology to increase the amount of first-party data you have and using this information to make strategic, data-driven decisions. Data should be driving choices around the types of target customer accounts, industries and segments that teams focus on:

    • Where have you had the most success so far?
    • How can you use that information to predict future successes?
    • When are customers/prospects dropping off?
    • Are customers successful in using my product/service?
    • What are the factors contributing to churn?

    Related: 3 Tried-and-True Strategies to Help Marketers Navigate Turbulent Economic Conditions

    2. Use data to size your market and sell more effectively

    After looking inward, leaders must use data to look outward — to size markets, identify prospects, segment and score accounts and personalize the customer experience.

    Down economies are an opportunity to ask yourself:

    • Can you uncover more opportunities? Can you decrease customer acquisition cost (CAC)?
    • How are your territories aligned with our total addressable market(TAM), serviceable addressable market (SAM) and servicable obtainable market (SOM)?
    • How can I improve my territory planning and allocation to increase productivity and sales rep success/retention?
    • Have I identified all competitive displacement or complementary offering opportunities?
    • What can you do differently that hasn’t been tried yet?

    Using data to size your markets helps you produce more predictable, efficient outcomes and increase ROI from your campaigns and individual contributors. These choices will have an impact on your bottom line for years to come and are especially important in down economies.

    3. Aligning teams around data and goals

    Data isn’t one size fits all — leaders need to understand what types of data and how to use it depending on which department, product or strategy. At the same time, your teams need to be working together toward the same goals using the same data and terminology to drive decision-making, especially when facing difficult economic conditions.

    For leaders, shrinking economies are also an opportunity to reprioritize accounts, rethink marketing campaign targeting and align your sales and marketing efforts to drive alignment and efficiency — all powered by data-driven insights. Typically, leaders look immediately toward cost-cutting measures in a bear market, but it is also time to reassess this short-term strategy. A shrinking economy is a time to be proactive, to use capital to take advantage of a shifting ecosystem — particularly in the B2B tech sector, which has historically done well or rebuilt stronger from the rubble. But knowing where to deploy your capital is an important part of this equation. Leaders must leverage the below data-driven insights to capitalize on down economies and turn headwinds in their favor:

    • IT spend, tech installs, hardware and tech stack, buyer intent
    • Vendor market penetration to find threats, trends and well as competitive displacement and complementary offering opportunities
    • Untapped market potential by uncovering gaps and whitespace in your markets
    • Contract insights (who are an account’s providers, for how long, what are the account’s renewal timelines, and more)
    • Intent-to-buy signals
    • Spend analysis (how much an account spends broken down by technology category and providers)

    With market intelligence and technology intelligence, leaders can develop insight-driven strategies to optimize resource allocation based on revenue potential, accounts with adequate budgets and compatible technology stacks, find threats, trends and opportunities.

    Related: 3 Tips to Achieve Growth in 2023 Through Data-Driven Marketing Strategies

    Growing while others shrink

    “Past performance is not indicative of future results.” We’ve all seen this disclaimer before, and it’s true — what worked yesterday will not get us through these unprecedented times. But what if, as a leader, you could deliver predictability — even in the least predictable times, insights into IT spend, technology install, tech stack and other customizable criteria to identify opportunities for growth benefit everyone in an entire company, from department to department, use case to use case.

    It works, I’ve seen it. Even in this unpredictable economy, objective data has empowered not only my customers, but the entire industry.

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    Elizabeth Cholawsky

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  • New Insta-Client™ Solution Delivers SMBs a Frictionless, Easy-Button Experience to Attract New Customers and Instantly Offer Credit Financing

    New Insta-Client™ Solution Delivers SMBs a Frictionless, Easy-Button Experience to Attract New Customers and Instantly Offer Credit Financing

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    Direct Performance Data and PayPossible Partner Up to Launch Full-Funnel Marketing Solution Aimed at Helping Companies Flip Qualified Prospects into Paying Customers

    Press Release
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    updated: Oct 26, 2020


    PARK CITY, Utah, October 26, 2020 (Newswire.com)
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    ​​Direct Performance Data (DPD), a leader in credit enhanced marketing, and PayPossible Inc., the go-to, turnkey point-of-sale (POS) financing platform for small and medium-sized businesses (SMBs), today announced the launch of their new joint offering: Insta-Client™. Aimed at helping SMBs rapidly grow their business and compete against the “big guys”, Insta-Client delivers companies a game-changing combination of targeted marketing paired with flexible retail financing.

    Until today, SMBs have been limited to broadly targeted ad campaigns that fail to answer the question, “Is this consumer-ready and able to buy?”. Now, they can compete on a level playing field. With Insta-Client, companies of nearly any size can invest in targeted, credit-data based advertising campaigns. From digital to social to direct mail, advertisers can ensure that each dollar invested reaches people who are in-market and credit qualified. Best of all, when those consumers visit a website or come through the door, companies can quickly close the sale by providing them with instant financing options from a network of lenders.

    “When customers can buy now, they buy more,” says Larry Crawford, CEO and Co-Founder of PayPossible. “That’s why we are excited to bring to market Insta-Client. Especially now, businesses are looking for a competitive edge to continue growing.  With this solution, we believe we’re opening the floodgates for SMBs to unlock the types of marketing and sales opportunities typically reserved for Fortune 500 companies. By delivering smarter, focused campaigns and a frictionless, digital financing option, companies have the power to increase sales, improve cash flow and boost the customer experience,” adds Crawford.

    The Insta-Client full-service solution supports the entire marketing funnel, from prospecting to sale, by helping companies:

    • Launch, manage and optimize omni-channel marketing to attract new paying customers
    • Maximize the power of their current customer database for cross-sell, upsell and retention efforts
    • Deliver a flexible, simple and fast lending experience that covers the entire credit spectrum and delivers an 80%+ approval rate

    “Together, DPD and PayPossible are changing the whole marketing paradigm. We think about how to help our clients close the deal before they’ve spent a single ad dollar. You could say we’ve flipped the funnel,” explains Steve Scruton, CEO of DPD. “For over 30 years, we’ve tapped into the power of data to help thousands of clients launch targeted campaigns. Now, by partnering with a lending platform like PayPossible, we’re handing companies the ‘easy-button’ to grow their business,” says Scruton.

    Offering flexible, frictionless credit and financing options for shoppers across the credit spectrum is especially critical as consumer behaviors shift. For example, nearly 63% of millennials don’t have a credit card. If businesses, from medspas to local auto dealers to fitness brands, want to reach and attract key audiences, it’s critical to offer an experience that doesn’t leave shoppers and their purchases abandoned.

    Insta-Client is available today. To learn more about Insta-Client, and how companies can access the lending platform at no charge, visit https://www.insta-client.com/​.

    About Direct Performance Data Inc.
    Direct Performance Data Inc. (DPD) is a leader in credit enhanced marketing. Today, DPD manages over 4,000+ data-driven campaigns, helping clients better target prospects with the right offer by leveraging DPD’s unique, multi-sourced database and proprietary lending relationships. By partnering with DPD, companies can exceed their sales goals by delivering pre-qualified offers with 100% FCRA compliance. To learn more about DPD’s marketing solutions, visit https://www.dpddata.com.

    About PayPossible Inc.
    PayPossible was built to give any small to medium-sized business the ability to offer customers financing options at the point-of-sale. Our multi-lender financing platform covers the entire credit spectrum, providing all customers the ability to quickly check and discover the financing options available to help them complete their purchase. Our mission is to give business owners the tools they need to grow. When businesses create jobs, they grow the economy, and keep the communities we call home vibrant and thriving. To learn more about PayPossible, visit https://paypossible.com.​​ 

    Media Contact:
    Brie Pinnow
    brie@blincdigitalgroup.com
    347.948.5824

    Source: Direct Performance Data

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  • Mother Teresa Biopic Honored With Rare Re-Release in Theaters

    Mother Teresa Biopic Honored With Rare Re-Release in Theaters

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    Social Impact Film Company Brings “The Letters” to Select Theaters on the Anniversary of Mother Teresa’s Canonization — September 4, 2018

    Press Release
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    updated: Jul 5, 2018


    AUSTIN, Texas, July 5, 2018 (Newswire.com)
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    Rarely does the public witness a cinematic re-release of a Hollywood movie. To be granted such an opportunity, a film must qualify for a number of “special circumstances.”

    “The Letters” was predicted to reel in high box office numbers upon its release in December 2015. An epic biopic about Agnes Gonxha Bojaxhiu, best known to the world as Mother Teresa, the film won multiple top awards in film festivals across the globe. This includes Best Picture and Audience Choice Award at the Sedona International Film Festival, and Best Director and Best Actress at the International Catholic Film Festival in Vatican City.

    However, things took a turn when the film encountered what distributors would later call “unexpected circumstances and unusually bad timing.” Two days before “The Letters” released in theaters nationwide, the San Bernardino terrorist attack took place. News outlets warned the public to stay away from facilities such as movie theaters –resulting in dismal box office results for all films released that weekend.

    Despite low box office results, “The Letters” earned impressive sales numbers in both international markets and the home entertainment market. The film also received high marks from the public on the popular streaming site, Netflix.

    These results garnered the attention of Alan J. Elias, Chief Executive Officer of OnBuzz, who found the film worthy of re-release in the U.S. OnBuzz’s unique distribution model is unlike any other in Hollywood, and the results speak for themselves. OnBuzz plans to re-release “The Letters” on September 4, 2018, to celebrate the second anniversary of Mother Teresa’s canonization.

    To avoid any similar effect on this re-release, social impact film company, OnBuzz, will utilize their unique Social Impact Strategy to market to the film’s target audience — churchgoers. OnBuzz will implement interactive kiosks in churches and mega-churches across the nation. The kiosks have proven to drive up social media shares, increasing the network of potential audience members which, in turn, drives up ticket sales. In addition, the company will tap into the same network of churches and churchgoers for the OnBuzz distributed film, Tortured for Christ, which became the most successful independent film in the nation for a one-day theatrical event during the week of its release.

    Social Impact is at the heart of OnBuzz’s unique strategy. A portion of ticket sales will support Mully Children’s Family, Charles Mully’s nonprofit that cares for orphaned and vulnerable children in communities throughout Kenya. Considered by many to be a modern-day Mother Teresa, Mully created his nonprofit out of his experience as an orphaned child. By connecting “The Letters” and “Mully,” OnBuzz highlights Mother Teresa’s life work and simultaneously raises awareness and donations for Mully’s children’s charity.

    It is said that “it’s not over ’til it’s over” and with “The Letters,” it seems that it is not over yet. Stay tuned for more “buzz” as OnBuzz prepares to release “The Letters” this September.

    OnBuzz is an end-to-end film financing, production, distribution, and marketing firm focused on sustainable filmmaking.

    If you would like more information, please contact OnBuzz at info@onbuzz.com or +1 (512) 968-3809.  

    Source: OnBuzz

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  • Christian Film Beats the Odds, Tops Box Office Charts Using Unique Social Impact Strategy

    Christian Film Beats the Odds, Tops Box Office Charts Using Unique Social Impact Strategy

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    Press Release
    –


    updated: Jul 3, 2018


    AUSTIN, Texas, July 3, 2018 (Newswire.com)
    –
    “Tortured for Christ,” an independent faith-based film, relays the true story of Romanian Pastor Richard Wurmbrand and the 14 years he spent in a Communist prison enduring torture and persecution for his Christian faith. The film was produced by Wurmbrand’s nonprofit organization, The Voice of the Martyrs, to honor the 50th anniversary of the pastor’s international best-selling book that recounted his persecution, also titled “Tortured for Christ.”

    In the week of March 5, 2018, “Tortured for Christ” earned its spot as the most successful independent film in the nation for a one-day theatrical event. With 477 screening events held in theaters and churches nationwide and 62,644 single tickets pre-sold for a Monday night premiere, “Tortured for Christ” generated $783,300 in revenue and surpassed all competing major film studios. The film’s unsuspecting box office success was made possible by OnBuzz’s unique Social Impact Strategy.

    OnBuzz, an Austin-based social impact film company, utilized Data-Driven Marketing to yield high ticket sales by tapping into resources provided by The Voice of the Martyrs. OnBuzz accessed target audiences currently involved in the “Tortured for Christ” brand, contact the organization’s supporters and individuals personally influenced by Wurmbrand.

    Tracking the received data allowed OnBuzz to organize theater and church screenings in zip codes with the highest volume of VOM supporters. Ticket sales occurred in advance, and screenings were not greenlit until the desired threshold was met thus reducing costs and eliminating the risk of low audience capacity. This method successfully encouraged ticket holders to share screening events through social media platforms, increasing potential audience networks, which resulted in an influx of ticket sales.

    Emphasizing the social impact potential of “Tortured for Christ” appeals to Christians and Christian communities seeking deeper discussion while raising awareness around religious persecution. In addition to receiving a copy of Wurmbrand’s book with each ticket order, a portion of ticket proceeds are used to help persecuted Christians around the world. According to a 2017 report released by the Pew Research Center, Christians fall victim to government restrictions and social hostilities in 64.65% of countries around the globe.

    The effectiveness of the Social Impact Strategy outlasts the film’s premiere; 640 “Tortured for Christ” screenings have taken place across the country to date with more events scheduled daily. OnBuzz continuously seeks more faith and family content to market using their innovative strategy. They see these films as more than just movies but as movements.

    OnBuzz is an end-to-end film financing, production, distribution, and marketing firm focused on sustainable filmmaking.

    If you would like more information, please contact OnBuzz at info@onbuzz.com or +1 (512) 968-3809. 

    Source: OnBuzz

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