January 22, 2020
The blind spots you have within your franchise network - why data specialists may hold the answers.
Who isn’t overwhelmed at times by the sheer amount of data flying around in business today? The data is there, but so are some blindspots...
The franchise model is arguably more susceptible to the issue of meaningful data access and usability given the multi-site and multi-stakeholder characteristic. This can be even further complicated by the stakeholder franchise owners also being at differing levels of experience and competence in providing, accessing or using the data.
Mark Jenkins, CEO RESURG explains how given the huge volume of data flowing through franchise (and any) business, that blind spots exist when the data is not effectively identified and organised.
Mark gives the example of franchise networks always wanting to have data from point of sale (POS), CRM (Customer Relationship Management software) and marketing data to all be integrated so as to give one universal view of the customer.
This data is often fragmented in its different silos and can be difficult to meaningfully bring together.
“If we can bring a customer’s transactions and preferences together we can get one single source of truth about that customer. That then enables us to predict and personalise offers and marketing to that customer… which is what many franchisors are saying is a blindspot for them right now. Personalising their marketing.”
Mark points out that data specialists are ideally qualified and able to bring this data together for a franchise network, and that this specialist skill should not be ignored.
