The Power Of Owning Your Data
by Mark Hodgkin
11/06/2019
As you probably know, we are firmly in the era of Big Data. More and more data is created every day – estimates put the amount of data created over 2.5 quintillion bytes per day. This astounding number means that over 90% of all data in human history was created in just the past few years. For organizations looking to engage their fans, data on their fans is the lifeblood of their strategy.
- To form detailed profile on your customers
- To help their sales and marketing teams reach new customers
- To drive organizational strategy
But having this data is not enough. The smartest organizations – of any size – prioritize owning that data. Owning the data gives your organization, the one your customers have elected to buy from by the way, maximum flexibility in this rapidly evolving area.
There is enormous long-term value in the collection and ownership of this data. Direct access to your raw customer data opens up doors for future use and essentially “future proofs” your data strategy.
Even if you are not established and don’t have time to act on your customer data now, you will never regret having this in the future. By owning the data, and not relying on your technology partner, you will never have to worry about full access to this goldmine of information.
At the end of the day, especially for those in the entertainment and sports sectors, you must be vigilant in maintaining this control. However strong your relationships are with third parties, ceding ownership will always have inherent risks and put you at the mercy of a changing landscape.
TicketSocket understands this, and is committed to a service that gives you all your customer data (as well as control of your brand) now and forever.