Focus and Responsibility in Tech Industry - For Michael Sien, success hinges on maintaining a clear focus on goals and taking responsibility for actions. This principle underpins effective strategy and execution.
Innovative Loyalty Marketplace - Michael Sien is enthusiastic about a loyalty marketplace where restaurants can showcase themselves and loyalty companies can utilize AI to target customers who favor those brands. He compares this concept to a "Kayak for loyalty" and believes collaboration among loyalty companies can enhance the market and benefit all parties involved.
Data is the Great Equalizer - According to Michael Sien, data-driven strategies enable smaller brands to compete on a level playing field with larger brands by leveraging similar technologies and gaining similar data insights.
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Emphasizing Focus and Accountability in Tech
For Michael Sien, Director of Enterprise Business Development at Qu POS, success in the tech industry is built on two foundational principles: focus and responsibility. These principles guide both strategy and execution at Qu.
From the company's inception, Qu has maintained a laser focus on fast, casual, and quick-service restaurant (QSR) chains which has helped ensure that they are not trying to be everything to everyone, but rather, providing solutions tailored specifically to the needs of these sectors.
"You know, it comes back to two words from my perspective, focus and responsibility," Sien explains. “We have maintained a focus from the first line of code at this company. That fast, casual, and QSR change were what were focused on. We were not going to try to be all things to all people.” The sense of duty has become ingrained in the company's DNA, influencing how they develop and deliver their technological solutions.
Sien emphasizes the importance of responsibility in their role as technology stewards in the restaurant industry. "We feel like we're stewards of the industry. And because we sit in that left lane with the honor of being part of marshaling technology that comes into the industry, we wanted to be very responsible in how we delivered that."
Pioneering a Loyalty Marketplace
One of the most exciting developments for Sien is the concept of a loyalty marketplace, an innovative idea that allows restaurants to present themselves on a platform where loyalty companies can use artificial intelligence to identify and target customers who are likely to favor their brand. Sien describes this concept as a "Kayak for loyalty," where multiple loyalty companies can collaborate to enhance the market and provide better services to both businesses and consumers.
"I'm also excited by the concept of a loyalty marketplace," Sien says. "Restaurants can sort of like in an OpenTable or third party put themselves on that marketplace and then loyalty companies have access to ingest that using AI, then sift out the people that tend to like that brand's food and leverage that loyalty marketplace."
Leveraging Data for Competitive Advantage
In the competitive landscape of the restaurant industry, data-driven strategies have become essential, and Sien firmly believes that data is the great equalizer. Data, he says, enables smaller brands to compete with industry giants by leveraging similar technologies and gaining comparable data insights leveling the playing field, and allowing emerging and mid-market brands to provide the same high level of customer satisfaction as larger chains.
"Data is the great equalizer. It's what allows a 50-unit chain to compete with a 5000-unit chain," Sien asserts. “As a 50-unit brand, you can now have access to the same kinds of technologies and data visibility that the big brands do. So don't sit there and wait. Leverage great platforms like Incentivio and Qu.”
Looking Ahead with Qu POS
Under Michael Sien's leadership, Qu POS is at the forefront of technological innovation in the restaurant industry. By maintaining a clear focus, taking responsibility for their role in the industry, and leveraging data as a competitive tool, Qu POS helps restaurants navigate and thrive in a rapidly evolving landscape.
Sien's vision for the future is one where technology continues to break down barriers and create new possibilities for businesses of all sizes.
Episode Links:
Qu POS Online: https://www.qubeyond.com/
Michael Sien LinkedIn: https://www.linkedin.com/in/michael-sien-59888b61/
Qu POS Instagram: https://www.instagram.com/qu_pos/
Qu POS YouTube: https://www.youtube.com/channel/UC6dZO3GIG_sZYk0CrCkya7A/videos
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ABOUT MICHAEL SIEN
Michael Sien is a 40+ year hospitality/technology veteran. Currently serving as Director of Enterprise Business Development at Qu POS, his perspective on all aspects of modern hospitality is 100% focused on great guest experience and how modern tech facilitates that for all brands that seek that with their guests.
ABOUT DATA DELICACIES—
Data Delicacies is a weekly podcast that dives deep into the world of technology and data as it pertains to restaurants. Host Arun Kumar interviews some of the best and brightest in the industry about all things hospitality tech, artificial intelligence, and machine learning.
Data Delicacies on Spotify: https://open.spotify.com/show/29ExS0n9X3Z3FyK4HuSPKH
Incentivio Online - https://www.incentivio.com/
Incentivio Instagram - https://www.instagram.com/incentivio/
Produced by Incentivio & Cali BBQ Media - https://www.incentivio.com/ | https://betheshow.media
