With the ever-evolving landscape of the foodservice industry, understanding local trends is essential for franchisees and restaurateurs looking to expand their operations. Luckily, companies like Brizo provide access to powerful data and insights to better equip teams with data-driven decision-making skills. This guide provides an overview of how to evaluate and understand the food service industry’s statistics to gain a competitive advantage in the market.
With in-depth market data, the foodservice industry is a goldmine for both sales and marketing teams. Being able to accurately evaluate the industry can help shape product decisions and marketing strategies to best reach target customers and capture market share. Knowing the key statistics to track in the foodservice industry allows businesses to find and gain customers, expand their operations, and optimize their production.
Sales Prospecting in the Foodservice Market
Sales prospecting is one of the most important steps in the sales process, but can often be time-consuming and tedious. With access to the right foodservice market data, your sales team can more easily identify leads and make informed decisions to increase revenue. Use data to predict customer behaviors, such as how likely they are to convert based on menu items and restaurant tech usage, as well as which leads are worth investing more in for potential long-term customers.
Data prospecting can also be used to optimize competitive strategies. Researching competition within the food service industry can reveal insights about different sales techniques, product lines, pricing, and custom offers that can help inform your own strategies.
Marketing to the Foodservice Market
Knowing the statistics and insights around the foodservice industry is also essential for marketing teams to create targeted campaigns to attract prospective customers. Leverage market insights to create customized messaging to different target audiences as well as custom offers tailored for food service companies.
Data can also be used to track and measure the performance of different campaigns to identify areas for amplification and expand outreach efforts. With industry analysis, you can position yourself as an industry leader and create marketing campaigns to establish brand recognition within the foodservice market.
Find Kitchens & Expand Operations
Obtaining comprehensive information on the foodservice market is also essential for restaurants and franchises trying to expand their operations. Knowing the food landscape in a new area allows you to easily identify kitchens and develop a location strategy to expand in the right direction.
Data analysis can also be used to analyze customer behaviors and trends to inform expansion decisions and identify potential locations. Foodservice market intelligence can provide information on the popularity of different menu items, pricing, and customer interests to help make decisions and create innovation in the industry.
Data Enrichment
Data enrichment is the process of supplementing data with additional information to create a more comprehensive view of the market. In the foodservice market, this can involve adding on special data fields specific to the industry, such as customer segmentation, or predictive analysis. This type of information can provide detailed insights into customer preferences and behaviors to inform product and marketing decisions, resulting in more effective targeting and segmentation.
By leveraging market data and insights, companies can gain a competitive advantage in the foodservice industry. Foodservice market intelligence can provide industry insights and unique data fieldspowering teams to make informed decisions about thesegmentation, expansion, sales, and marketing.
