Planning to get started on innovating your data.com/en/platform/’ target=’_blank’>menu? You’ve come to the right place. Menu innovation plays a critical role in the success of a foodservice business, as customers seek ever-evolving, interesting experiences and flavored combinations. In a market where winning customers’ hearts and their wallets involves providing an outstanding menu, the way to stand out from the competition is by innovating.
Innovation doesn’t happen in a vacuum, hence the need to research customer preferences and menu trends before conceiving of a menu makeover. Fortunately, data-driven insights and research into the foodservice market helps business owners understand what choices customers are likely to make – and respond accordingly. Thus, arming strategic decision-makers in franchisors with the data to augment their menu decisions.
To get started on innovating your menu, take a data-driven approach before any decision-making begins. Utilizing data-backed insights and analytics allows operators to make decisions for menu development using reliable, current information about customer preferences or food trends.
Sales Prospecting in the Foodservice Market
Sales prospecting is a preventative step to success for menus of all types. The objective of sales prospecting is to identify governing market trends and to keep strategic partnerships. This goes beyond demographics research to include understanding of shifting customer preferences, demand for new or unusual menu items or any relevant trends within the customer base.
Commensurate with data-driven trends, sales prospecting also benefits from access to comprehensive market insights. Brizo provides the data-driven insights and analytics for deeper food service market understanding and analysis. With in-depth menu data and restaurant tech coverage, couple with unique data fields specific to the food service industry, Brizo provides the information needed to understand the customer experience and to drive sales for targeted selections.
Marketing to the Foodservice Market
Once a menu has been innovated and tailored to the customer experience, marketing it well is critical for success. When marketing new or updated menu items, providers need to reach the right audience – geographically targeting posts and taking other steps to ensure that the intention and purpose of the post is received by the intended audience can be easily done with the right strategy.
Coupled with current economic and market trends, data-led industry insights provide a holistic view of what may appeal to the customer. With access to the right specific data fields, including demographics, menu items, payment methods, etc, foodservice marketing draws its insights only from the right sources.
Accordingly, with data-driven insights and resources, operators can further refine their customer base and target what matters, thereby increasing their return on investment for marketing campaigns.
Find Kitchens & Expand Operations
Once the potential for growth and development in the foodservice market has been established, actual expansion has to be considered. With accurate knowledge about the customer base and expectations, business owners can make mindful decisions about when and where to open new kitchens or expand to new markets.
Data-driven segmentation of the market allows operators to focus on the potentially justifiable investments. With access to comprehensive market analysis, operators can streamline production innovation and strategically expand their brands to the right areas.
Additionally, data enrichment can be used to enhance existing operations. A range of data fields from found business information to detailed reviews of menu items and services can be made available for operators to hone their target audience and build a better understanding of the market for production.
End thoughts
Menu innovation is an integral part of the success of any foodservice business. It is important to arm strategic decision makers in franchisors with the data-driven insights and analytics for deep understanding and analysis of the foodservice market. With access to experienced, comprehensive market intelligence, operators can make more informed decisions on menu development, decommissioning or marketing. In addition, reliable and extensive data allows for goals for expansion to be set and achievable action plans to be realized.
