Big Data: There’s another trap out there (besides harvesters) that’s sure to leave you underwhelmed.
Credit card processors offering data of some sort as a “value add” if you switch your processing to them.
The Pitch: You’ll see some colorful whiz-bang charts and reports (they’ll go light on the spreadsheets) because that’s where most people’s eyes start to glaze over.
They’ll use terms like: big data, data insights or actionable data – so “you” can make better marketing decisions.
Of course it is “you” deciphering all the “data.” “You” formulating the “insights.” “You” taking all the “action.” And it is “you” creating and deploying the marketing.
Now, if you have an advanced math degree and know how to write complex algorithms. If you you are hungry for even more things to do every day… then you might give this a whirl.
The pitch is seductive… “customers just pay and you’re done. Easy-peasy.”
Consider this though:
1. Saving a few seconds at the POS will cost you hours and hours later… eyeballing data, and creating and sending marketing messages.
2. Since only customers who link their credit card to the program are being tracked (and participation rates are very low) you will restrict your ability to grow sales.
3. The data they are providing is a mere fraction of what’s already available from your POS – so what exactly are you gaining?
With Repeat Returns, we sift through and analyze customer data every night (while you sleep) to create a MAXIMUM-PROFIT scenario for the next day…
Then we deploy your marketing for you.
Anything that does less… would have to pay you every month for it to make financial sense.
Sadly, I sat in a meeting with a credit card “data-provider” once. They flat-out admitted that even they wouldn’t know how to make useful sense out of what they provided. “That’s up to the business owner to decide.”
Remember, I increased my own restaurant sales by $137,000 a month… and what led to that is right here.
If you need “easy-at-the-POS” ask about our “hands-off” program and let’s see if that’s a fit for you.