Gaining insights into the foodservice market is no small task. With endless data points that can provide valuable information and a wide variety of customers, many restaurants, suppliers, and grocery stores find it hard to keep up with the changes in the industry. However, a restaurant market intelligence program can be an invaluable asset in gathering the right data and forming impactful market strategies.
By leveraging the power of data science, artificial intelligence, and big data analytics, brands can gain a better understanding of the foodservice market, identify new prospects and customers, and optimize their marketing and sales efforts. Through a comprehensive market intelligence platform, companies have the opportunity to gain market insights and customize their data-driven strategies tailored to the foodservice industry.
But how do you get started? We’ve outlined the key points of creating a comprehensive market intelligence plan for businesses working in the foodservice industry.
Sales Prospecting in the Foodservice Market
Sales prospecting can be a complex and time-consuming process for many merchants and restaurateurs, especially when it comes to gathering the necessary data and insights. With the right data, companies can quickly identify potential customers, build stronger relationships, and close more deals.
For sales prospecting, a comprehensive market intelligence platform provides useful data to help businesses quickly and easily identify leads. By leveraging the power of cutting-edge analytics, suppliers can use predictive models to identify target markets and develop sales plans on a more granular basis. This helps businesses reach out to potential customers in a timely and cost-effective manner.
Marketing to the Foodservice Market
As the foodservice industry evolves, food brands and suppliers must stay ahead of the trend in order to attract, convert, and close more leads. A sophisticated market intelligence platform can provide a deep analysis of the foodservice industry and leverage consumer data to create an engaging experience for customers and prospects.
With an advanced market intelligence platform, foodservice businesses can identify trends in consumer tastes, understand buying patterns, and segment the market to target the hot spots. By leveraging market intelligence, brands can create bespoke campaigns tailored to their customers’ needs and expectations, allowing them to remain competitive within the industry.
Find Kitchens & Expand Operations
One of the key challenges of expanding an operation or launching a new product is finding the right kitchen. With accurate and up-to-date insights into the foodservice industry, companies can easily identify ideal kitchens and production facilities to fit their needs.
Market intelligence allows business to quickly identify foodservice venues that can provide greater production efficiency, lower cost, and higher-quality goods. By leveraging the power of data science and predictive models, business can optimize their kitchen selection process and find the best-suited facilities for their operations in the foodservice industry.
Data Enrichment
Data is the backbone of every successful business, but there’s still a need for comprehensive and accurate data enrichment. Market intelligence, especially when used in the foodservice industry, can help to enhance existing systems with up-to-date insights and comprehensive market coverage.
Using data-enrichment, companies can tap into powerful insights across the entire foodservice industry. In the foodservice market, data enrichment can help brands make more informed decisions and update their strategy with near real-time market information.
