How businesses can let customers control and own their data. But still WIN
Inability to convert consumer data into actionable insights is as big as problem as data flooding. Oftentimes, businesses wonder what to do with the tons of raw data that is created and captured daily. It’s like a whale shark that collects plankton and eats all it can get, both the plankton of value and the rest. Consequently, most consumer data that is collected will be only used for menial business-centric benefits like an eCRM or push marketing, losing its true purpose. This is where Vista comes in. It is an opt-in data platform that powers the connection between people and brands through data-driven concierge. “We empower customers to own their data and share it with businesses on their terms. This approach leads to a much more tangible, authentic experience for both people and brands,” says Rupert Runewitsch, Founder, Vista.
Born to bridge the gap
Consumers are always more likely to make purchases with companies that personalize brand experiences. However, there is a huge market gap open because of the the lack of personalization in the “real-world”. While everyone has been focused on online personalization, because it is easier, Rupert believes that the opportunity is offline at the initial stage. “Combining this deficiency with the rise of the importance of data ownership and digital identity, we knew there was a huge play to address both these.” And thus was born Vista to help brands bridge this gap.
Creating customer value
Vista owns its own unique go-to-market strategy. Their tactical plan has been crafted through their combined backgrounds in Hospitality, Data and Innovation. While most platforms are business centric and involve the mining, scraping, and all other negative turns of phrase regarding data, they do the opposite. Vista takes a customer-first approach and is dedicated to creating value to customers, most importantly. “In my opinion, if you do this, the business wins far quicker,” says Rupert. “Our strategy has been effective and highly appreciated in the market.” Dr. Searls of Harvard Business Review in his book, Intention Economy, wrote about a vision of how the world’s markets will work in the future. He reached out and applauded Vista’s approach.
The company is now planning for a bigger go-to-market, considering the pandemic of COVID-19, the hospitality industry is yearning for innovation and is about to get a whole lot more deal flo. According to Bloomberg, this industry will be where 70 percent of consumers will be spending post pandemic. “While the need and role of customer experience management pre-pandemic was beginning to hit home, I believe that on the back of the pandemic this will be tenfold. And that would be the right time to adopt platforms like Vista,” points out Rupert.
Passionate and determined as he is, Rupert constantly looks for like-minded people who believe in his approach. “Nothing gives me more drive than speaking with someone that understands and believes in the ‘big swing’ we are pushing for,” he notes.
This along with his keen skill to listen and keep an eye on patterns and behaviors constantly have been helping him to study the market and take the company to a greater success. For him, this approach is key to both personal management and businesses operations and product development. “While this may sound obvious, you will be surprised how often this approach is overlooked,” Rupert ends.