As a franchisor, expanding your restaurant brand and understanding the local food trends is essential for success. However, data on the foodservice market can be hard to come by. That’s why more and more franchisors are turning to account based analytics apps to gain insights and better understand a local market’s food and beverage industry.
Account based analytics provide data-driven insights that equip sales teams, help you attract and close more leads, and inform your efforts to streamline production and strategically expand your brand. By using this type of insight, you can make more informed decisions and improve your success rate.
This article provides an overview of account based analytics and how they can help you better understand the foodservice market, equip your sales team with data-driven insights, and convert and close more leads.
Understanding the Foodservice Market With Data
Account based analytics help you identify trends, understand players in the market, analyze rival performance, and create competitive positioning. By gathering data from multiple sources and combining it with real-time insights, you can get an in-depth understanding of the local market.
For example, Brizo provides board and diverse sets of data to help franchisors get a deeper understanding of the foodservice market. Their data offers highly targeted research and prospecting capabilities, providing unique data fields specific to the food service industry. This includes in-depth menu data and restaurant tech coverage to provide detailed insights into the industry.
Equipping Sales Teams With Data-Driven Insights
Account based analytics give sales teams a deep dive into client data, allowing them to make better decisions when it comes to closing sales. With insights about menu trends, pricing changes, competitor performance, customer interests, and profit margins, sales teams can easily identify opportunities and plan outreach campaigns.
Account based analytics can also help sales reps quickly establish trust with potential customers by providing comprehensive insights into their current performance and challenges.
Marketing to the Foodservice Market
WithDetailed insights into menu trends, promotional strategies, pricing strategies, and customer interests, account based analytics can help you design effective marketing campaigns to attract and close more leads.
By understanding the current market trends, you can create campaigns that stand out from the competition. You can also use data-driven insights to track the success of your campaigns and optimize for better performance.
Finding Kitchens & Expanding Operations
Expanding your restaurant operations can be a complex process. Account based analytics can help you identify the right kitchen locations by providing insights into the local market and competing restaurants. You can research the local food scene, analyze competitor performance, and identify promising areas where you can expand.
Data-driven insights can also help you streamline production innovation and develop unique strategies to expand your brand. By tracking and monitoring menu trends, you can develop new dishes that are popular in the local market.
Account based analytics can also help enrich your systems with more comprehensive insights. You can leverage foodservice market-specific intelligence and insights to make more informed decisions about resource allocation, pricing, menu design, promotion strategies, and other business operations.
This data can help you identify untapped opportunities, develop new strategies to differentiate yourself from the competition, and make data-driven decisions that are backed by hard data.