Kvantum's insights can also impact menu innovation. He added, "This would help you understand how much value your loyalty program is really driving or not driving." In other words, Kvantum is expected to demonstrate the best bang for each brand's marketing dollars because it is providing "a much deeper look at consumer patterns" and buying behaviors, Muench said. The AI-driven insights could help each brand in the Yum portfolio to make strategic media buys that could increase sales without increasing media budgets, Ken Muench, the chief marketing officer at Yum Brands, told Insider in a recent interview. Kvantum is expected to work with Yum's Collider Lab, a culture-based consumer-insights and marketing-strategy consultancy that Yum Brands acquired in 2015. And Yum plans to use those insights to determine the effectiveness of big-budget marketing campaigns and loyalty programs. Kvantum, which Yum Brands bought earlier this month, uses AI to gather consumer insights needed to optimize marketing budgets. Yum Brands did not disclose when it plans to deploy the social food-ordering technology in the US. "Highly engaged customers buy 90% more often and pay 60% more per transaction," Powell said. Tim Powell, a restaurant-industry consultant, said that "this acquisition gives Yum more information on their customers" that can be leveraged to increase loyalty and to build brand ambassadors through these social channels.Īt the same time, making it easier for consumers to order through their preferred social channels could result in strong sales. Yum said it has been using Ticktuk's technology in 900 KFC, Pizza Hut, and Taco Bell restaurants in 35 countries outside of the US. The technology can be deployed for all types of orders - delivery, curbside pickup, and in-restaurant dining. Unlike some third-party delivery operators, whose orders are often funneled through separate tablets, Tictuk's platform integrates with Yum's point-of-sale systems. Tictuk Technologies, for example, allows consumers to complete orders and interact with chains through a variety of social-media and chat channels, such as texting, WhatsApp, Facebook Messenger, Telegram, QR codes, and email. It could also allow Yum to use artificial intelligence to adapt menus and marketing spend to meet consumer demands. These tech purchases may broaden online ordering options for Yum's brands, which include Taco Bell, KFC, and Pizza Hut, as well as The Habit Burger Grill. At the same time, restaurants have learned the value of AI-powered consumer data. ![]() The move comes as the pandemic has fueled consumer demand for convenient, fast, and frictionless ordering. However, the company said it has agreed to pay Dragontail $93.5 million (Australian currency), which amounts to about $72.4 million in US dollars. The company did not disclose the value of both all-cash deals with Tictuk and Kvantum. The Louisville, Kentucky, company bought consumer-insights firm Kvantum that same month. In late March, the fast-food company acquired Tictuk Technologies, an ordering and marketing platform based in Tel Aviv, Israel. ![]() This is the third major tech acquisition for Yum Brands in 2021. Yum Brands said it intends to scale Dragontail's platform to its brands around the world over time. It also allows customers to track their order, technology that Pizza Hut's rival, Domino's, has been sporting for years. The technology integrates with third-party delivery operators. The platform will help improve delivery at all brands, but especially Pizza Hut's in-house delivery system, the company said. Yum has more than 50,000 restaurants spread throughout the world. It is currently being used in 1,500 Pizza Hut restaurants, a brand that has seen a major turnaround during the past year. This story is available exclusively to InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |