In the ever-evolving foodservice industry, it pays off to be savvy in understanding and predicting trends and emerging opportunities. With the right insights and analytics, you can capitalize on emerging sectors and markets, equip your sales teams with the resources to target the best leads and improve marketing campaigns, and expand your brand into newly opened kitchens.
Whether you’re a restaurant or foodservice technology provider, food provider, manufacturer, or supplier, getting access to a set of reliable and comprehensive data points can be invaluable to your business success. Knowing what the industry looks like can help you better understand customer needs, optimize your marketing campaigns, and grow your business.
Getting started with restaurant insight is key to understanding the industry. The restaurant industry is complex and frequently changing, with ever-evolving technology and challenges. A set of comprehensive and real-time insights can help you gain a deep understanding of the market and capitalise on opportunities when they come up.
So, how can you get started with restaurant insights? There are a variety of ways to gain an in-depth understanding of the foodservice industry—and the data to support it. Let’s take a closer look.
Sales Prospecting in the Foodservice Market
Having access to the right data is critical when prospecting the foodservice market. Sales people need to have the understanding of the landscape to access prospects and the ability to narrow down their search to target restaurants that meet their criteria. With the right insights and analytics on hand, sales teams can research the foodservice market quickly and accurately.
Data rich insights can reveal not only restaurants that are potential customers, but also provide detailed insights such as menu offerings, staffing model, average ticket price and more. Additionally, sales intelligence tools can provide the insights to reveal the best time to reach out to prospects – when they are highly likely to be in the market. Sales teams can also establish a preferred contact – an executive or manager – by using data points such as titles or social media presence.
Marketing to the Foodservice Market
Attracting new customers and growing existing relationships is key to boosting profits and building a loyal customer base. Technology companies should consider the importance of having data-driven industry insights when it comes to marketing and targeting both new and existing customers. With access to the right data, companies can target the best leads and tailor campaigns that will drive decisions.
Data-driven insights can inform decisions on an array of marketing topics such as the best timing to reach out to prospects, investment levels required to convert leads, and ideal channels to engage across. Knowing your customer’s preferences through menu data and the impact of restrictions can also provide a platform for successful digital marketing campaigns.
Finding Kitchens & Expanding Operations
Foodservice technology companies, food providers, and manufacturers looking to expand should consider leveraging their data to their advantage. Having a deep understanding of the market – through data intelligence and analytics – can help you uncover and optimize opportunities.
The right data can help you identify hot spots to open up kitchens and drive new growth, as well as save time. When considering expansion opportunities, explore data points such as current menu items and the reputation of competitors in the area to help make an informed decision. Furthermore, data enrichment can provide a more comprehensive market overview, allowing you to make more confident decisions.
Data Enrichment
Data enrichment can help fill in any gaps when it comes to your understanding of the foodservice market. With such data, you can create a more comprehensive view of the market before making decisions. This may include analyzing the impact of foodservice trends and understanding customer needs for better targeted campaigns.
By adding data sets such as menu items, pricing, and customer feedback, you can get a true understanding of the market. Data sets can also identify competitors to watch as well as their strategies, breakthroughs, and tactics.
