Global advertising revenue for 2017 was $591 billion with $209 billion of it dedicated to digital advertising. The existing data marketing ecosystem of data and direct marketing list owners, managers and brokers is wildly inefficient and often ineffective, costing businesses untold millions in unnecessary time and money, and untold more in opportunity loss.įive ways merging Big Data, Artificial Intelligence and Blockchain technology is rectifying restaurant marketing gap.Įven so, given the fundamental truth that data is the backbone of both digital advertising and marketing and traditional direct marketing, marketers have just struggled along with what the market has been able to provide, for better or for worse. Unfortunately, the today’s data industry is both far too complicated and highly fragmented, offering a confusing glut of choices that are overwhelming marketers who are in desperate need of this mission-critical information. The key to both acquiring new customers and retaining current customers is possessing the critical data that can help you, one, communicate effectively with the highest qualified contact possible and, two, further identify the needs of your current customers to foster long-term loyalty. However, one of the biggest challenges restaurant owners and marketers face today is customer acquisition and retention. As detailed in the revealing New York Times story titled “ To Survive in Tough Times, Restaurants Turn to Data-Mining,” restaurants are increasingly turning to Big Data for fix problems and predict patron preferences and behaviors so as to enhance the overall customer experience, and bottom lines in kind.
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