Trying to decide how to tackle the ever-growing food service market can be daunting, especially for those unfamiliar with account-based analytics studios. Whether you are a local eatery trying to understand the nuances of the industry or a franchisor trying to expand locations, account-based analytics challenges such as sales prospecting, targeted marketing, and data enrichment can make the process more manageable and significantly more profitable. With the right analytics tools and strategies, operators accommodate burgeoning customer trends better and create a steady flow for their restaurant.
Account-based analytics studios, such as Brizo, provide a boatload of data and insights to dive deep into the foodservice market. But, before you dive in, there are some key considerations to factor in first. From menu data to restaurant tech coverage, here are the top 10 things to consider when using account-based analytics studios for restaurants.
1. Researching the Foodservice Market
It’s important to know your restaurant’s market before you dive into account-based analytics studios. This may be a local market, such as a city or neighborhood, or a national market for franchised restaurants. Understanding your foodservice market will help guide you in using the account-based analytics studios, such as Brizo, to extract valuable data for sales and marketing efforts.
2. Sales Prospecting in the Foodservice Market
Account-based analytics studios enable you to turn the foodservice market into an easily searchable database, making it easier to prospect for new customers and strengthen existing relationships. With the right analytics, there is no need to manually search through masses of data. Instead, drill down to segmented markets with detailed accounts and contacts to streamline your sales process.
3. Marketing to the Foodservice Market
Attracting the right customers is paramount when it comes to the foodservice market. Knowing how to market to a target audience effectively and efficiently is a main benefit of account-based analytics systems. From consumer preferences to local hotspots, leverage your studio analytics to identify your ideal customers, cultures, and geographies. Nothing beats knowing your potential customers intimately.
4. Enrichment Data
Data enrichment is the process of augmenting existing data sets with additional market and hospitality information. With account-based analytics studios, such as Brizo, you can dig deep into the dynamics of the industry and find trends to boost customer conversion and sales funnel acceleration.
5. Expansion Strategy
Account-based analytics studios provide the opportunity to find new kitchen locations and expand operations quickly and accurately. Use them to explore new markets and determine the feasibility of introducing new concepts and build an informed strategy to bring them to life.
6. Feature-level Insights
Digging down into the specifics can provide essential details to inform decisions when launching new products or services. With account-based analytics studios, understand feature-level details such as tastes, views, and content interactions. Every bit of data counts.
7. Menu & Technology Data
Detailed menu and technology data can be critical when it comes to improving menu offerings and staying up-to-date with technology. With account-based analytics studios, unlock restaurant data such as customer review trends, technology-owenrship trends, and seasonally-focused analysis.
8. Strategic Monitoring of Competitors
Competitor insights can work in your favor if used correctly. Account-based analytics studios provide the opportunity to track competitors so you stay one step ahead in the foodservice marketplace.
9. Penalty Reduction
Data erros can lead to costly mistakes, including price discrepancies or order inaccuracies. With account-based analytics studios, monitor fluctuations in pricing, delivery, and online ordering to dramatically reduce penalties and mistakes.
10. Total Restaurant Solutions
An account-based analytics studio, such as Brizo, is a great source for total restaurant solutions. Take advantage of it to develop informed decisions, streamline operations, and accurately predict trends.
Account-based analytics studios can be a powerful weapon to harness the growing power of foodservice technology. From sales and marketing to menu and technology data, when used correctly, they provide critical market insights and help you reach and exceed your goals.
