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Goering Center for Family & Private Business dives into data at its April 20 Luncheon Series event, “The Data Revolution” with 84.51 CEO Stuart Aitken.
Affiliated with the University of Cincinnati’s Lindner College of Business, the Goering Center provides educational programs and resources to help family-owned and private businesses grow and network. Aitken’s
84.51 collects and mines customer data to inform business decisions and build strong customer relationships, issues important to businesses of all sizes.
“I’ve had the good fortune to work for many great companies and to really understand how basic business principals apply to big companies or brands just as well as they do to small companies,” Aitken says. “From a data and loyalty perspective, focusing on the customer is something that any size business can employ. It’s more a matter of what’s relevant to your customers and how, as a small business owner, you can inspire loyalty through the service you provide.
“The customer should be at the center of everything — knowing your customers as individuals, not based on generalities or demographics.”
The constant collection of data today can raise questions for businesses and customers about how much is enough.
“It’s not really about the quantity of the data as it is about the quality of the data,” Aitken says. “Looking at data over time actually helps us to be more personal with our customer outreach. We can understand what’s changing in their lives and that what may have been relevant a year ago may not necessarily be relevant today. Our customers provide feedback that they appreciate that level of personalization and that we understand how to reach them at the right time with the right message with the right channel.”
Aitken’s customer-centric approach to data has applications not only for product development but also for the marketing community.
“Since Procter & Gamble was established in Cincinnati nearly 150 years ago, Cincinnati has been recognized as a branding hub,” he says. “We have some of the largest and most well-known marketers right here — P&G, Kroger and Macy’s as well as world-class creative firms and academic institutions like UC’s DAAP — that produce creative and technology talents influencing brands and businesses everywhere.”
84.51 is a wholly owned subsidiary of Fortune 500 company Kroger, and the firm is also invested in the Cincinnati entrepreneurial community through its startup-in-residence program. Aitken’s extensive experience working with established and new companies and how both categories collect and use data should generate an interesting and informative presentation.
The Goering Center Luncheon Series is open to the public, though reservations are required. The programs take place monthly with guest speakers on trending business topics. Upcoming events feature discussions on the economic and lending environment, attracting and retaining talent and business risks.
Family and private businesses are also able to join the Goering Center as Core Members for access to additional training, education and development programs.
“The Data Revolution” will be held 11:30 a.m.-1:30 p.m. April 20 at the Sharonville Convention Center. Admission is $39 for Goering Center members and $99 for nonmembers.
Register here.
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