The foodservice market is complex, ever-changing and increasingly competitive. As a supplier, keeping your restaurant customers’ needs up to date can be a challenge and expensive process. From sales prospecting to marketing, accelerating your business requires reliable and insightful data intelligence.
Restaurant analytics systems can be a powerful tool in helping suppliers, restaurateurs and marketers better manage their businesses and understand the industry trends. They can provide data-driven insights into customer behaviour, market trends and competitor behavior, providing invaluable insights into how to target and reach customers, understand consumer preferences, spot new market opportunities and develop new strategies to increase sales and profits.
In this guide, we’ll cover the basics of evaluating restaurant account based analytics systems, and outline the key components to look for. We’ll also discuss some of the features to look for in order to improve insights on the foodservice market – from sales intelligence to marketing intelligence and competitive intelligence.
Overview of Restaurant Account Based Analytics Systems
Restaurant account based analytics systems provide invaluable insights into the foodservice sector, allowing for deep customer analysis, restaurant performance tracking, competitive intelligence and sales prospecting.
Using these systems, restaurateurs and suppliers can gain in-depth information on customer’s behaviour, pricing structures, menu range and availability, customer service ratings, supplier reviews, menu recommendations and more. This data can then be used to strategize and optimize a restaurant’s menu, business strategy and marketing campaigns.
These systems also offer the capability to access advanced menu data, such as ingredient selections, nutrition information, allergens, specials, customer segmentation, menu trends, location trends and more. This provides users with insights to identify current trends, adapt their menus to customer preferences, and develops strategies to optimize their geographic presence.
Evaluating Restaurant Account Based Analytics Systems
Before you decide which restaurant analytics system is right for you, it’s important to understand the different features they offer. Here are the key points to consider when evaluating a restaurant account based analytics system.
Sales Intelligence
Look for a platform that enables you to easily find new sales leads and quickly obtain customer data. This feature should also enable the easy generation of sales reports, as well as track customer satisfaction levels and ordering behaviour.
Competitive Intelligence
Competitive intelligence is essential for developing effective strategies and plans to remain competitive. Ensure that the restaurant analytics system you choose provides insight into the market dynamics and customer demographic preferences, market share and trends.
Marketing Intelligence
Marketing intelligence can help optimize campaigns and target customers in the most effective way. Ensure the platform you choose has access to detailed trends data, including assessments, segmentations, promotion tactics and customer preferences.
Data Enrichment
Data enrichment can enhance the process of decision making and provide a more comprehensive market insights. The platform should be able to provide in-depth menu data and restaurant tech coverage to maximize the efficiency of data analysis, as well as provide highly targeted research.
The essence
Using an account-based analytics system can provide a deep understanding of consumer behavior and trends and equip you with valuable insights into the foodservice market.
When evaluating a restaurant analytics system, make sure to look for features including Sales Intelligence, Competitive Intelligence, Marketing Intelligence and Data Enrichment, which all play an important role in maximizing data intelligence.
To succeed in today’s competitive foodservice market, it’s essential to have the same comprehensive insights and understanding of the industry as the larger players. A restaurant analytics system can help smaller brands take on the competition on a level playing field.
