Whether you’re a foodservice business owner, a marketing or sales professional, or an executive in the industry looking to maximize results, generating insight into the foodservice market is critical to achieving success. Competitive intelligence tools have become invaluable assets to foodservice professionals in extracting knowledge about the market; by understanding the important drivers of foodservice demand such as menu items, industry trends, and dynamics related to the buyers and sellers, companies can gain an edge that can give them the extra boost they need to stand out in the crowded and competitive foodservice space.
Knowing the right brand of tools to use and how to best utilize them is invaluable. Utilizing the most up-to-date competitive intelligence and market insights software can help you find trends in the market that would otherwise be difficult to access, making it easier to identify opportunities, evaluate potential competitors, and stay up-to-date on industry-shaping news that can significantly affect your business.
Brizo provides a comprehensive set of foodservice data that can be used to generate targeted research and prospecting of the foodservice market, offering unique data fields that are specific to the foodservice industry and in-depth menu data. Here’s how your brand can get started with competitive intelligence tools for restaurants.
Sales Prospecting in the Foodservice Market
One of the key applications of competitive intelligence for the foodservice market is sales prospecting. This is the process of using data-driven technology and insights to target and reach out to potential customers within the foodservice market to increase sales and profits. By understanding the types of food items, trends, and industry dynamics related to the buyers and sellers, companies are better equipped at leveraging the insights available to them to pinpoint specific prospects that would match their target customer profile.
Sales engineers can easily gain access to market intelligence generated from competitive intelligence tools such as Brizo, which provide detailed information about the types of restaurants and their menus along with their competitive landscape. By properly leveraging this kind of data, they can improve their outreach and lead generation efforts. Additionally, they can generate a more targeted sales pipeline that will yield higher conversions as it is custom-built towards their prospects.
Marketing to the Foodservice Market
Just as sales teams can leverage the most up-to-date competitive intelligence software to acquire new customers, marketing departments can use this data to generate targeted campaigns for the general public. By understanding the data available to them and identifying trends or any other information relevant to their desired audience, they can develop any number of strategies that are tailored to capture those customers.
For example, they can use the data to identify specific foods or menus that may be particularly popular in a particular region or demographic group and use this knowledge to devise customized campaigns and ads. This will significantly reduce the amount of resources needed to attract more customers and convert more of them into paying customers.
Find Kitchens & Expand Operations
Competitive intelligence tools for the foodservice market can also be used to streamline production innovation and expand a brand’s presence. By gaining a better understanding of the foodservice landscape, brands can better identify opportunities for streamlining their production and reduce costs associated with wasted ingredients. Additionally, the insights from these tools can be used to identify suitable kitchens and other foodservice outlets to gain access to new customers.
Data Enrichment
Lastly, competitive intelligence tools for restaurants can be used to gain more comprehensive market insights and help a business make decisions with confidence. These tools offer valuable information about different restaurants, including their locations, menus, price points, customer demographics, and other data points that can be used to enrich the existing data of a company. Having access to reliable competitive intelligence data can make it easier to analyze a brand’s market performance and identify opportunities for improvement.
Competitive intelligence tools such as Brizo can be a powerful addition to any restaurant’s arsenal, allowing them to gain valuable insights into the foodservice market to help identify prospects, devise marketing campaigns, gain access to new customers, and make data-driven decisions with confidence.
