As a data provider, there’s no question that a sophisticated analytics program is a must. You need a comprehensive understanding of the food service industry – the trends, menus, performance of your industry peers, and more – in order to move your business ahead. But how do you get started?
In this article, we’re going to highlight the key elements of an effective restaurant account based analytics program that you can adopt to drive your business forward. We’ll encourage you to think big about your data projects, use our world-class foodservice platform to gain better insights, and explain why data-driven restaurant decisions are so important.
Data-driven decision making is no longer an option for restaurant technology providers; it’s essential. Analytics enable restaurants to build trust with their customers, advocate for themselves, and come up with the best strategies to grow their businesses. In addition, it helps them stay ahead of the competition, identify market trends, and gain better visibility into regional sales performance.
At Brizo, we believe that data-driven insights are one of the most powerful ways for restaurant technology providers to understand the foodservice market and make smarter decisions. Our platform offers a board and diverse set of data for deeper market understanding, from menu data to restaurant tech coverage.
Sales Prospecting & Targeting
The foundation of a successful restaurant account based analytics program begins with sales prospecting and targeting. With the right tools, you’ll be able to identify industry trends, research prospective customers, and understand what’s driving growth in the food service market. Here are a few core tactics to help you get started:
Understand competitor performance: Use analytics to track and measure competitor performance in order to enhance your own strategies.
Optimize sales efforts: Use tools to target specific customers and gain an in-depth understanding of their needs and buying trends.
Research markets and demographics: Utilize insights to gain an understanding of population demographics, regional spending on food service, and other key elements of the market.
Maintain an active presence: Monitor restaurant compliance, menu changes, and customer satisfaction using tools to keep tabs on the industry.
Look beyond your industry: Use predictive analysis to uncover potential partners and resources outside of the restaurant technology world.
Marketing to the Foodservice Market
Market to the right people and tell your story. Research your clientele and identify their pain points. Then use data analytics to optimize your messaging and cater it to them specifically–whether through email, direct mail, or social media campaigns. It’s also important to use analytics to assess different promotion tactics, so you can determine which ones resonate better with clients and give you the best ROI.
Find Kitchens and Expand Operations
Analyzing data is also key to streamline production innovation and strategically expanding your brand. With insights into the foodservice market, you’ll be able to identify the best kitchens to work with throughout the year, uncovering seasonal trends and sales opportunities while maintaining cost-efficiency. In addition, identify the best talent in the industry and use data to come up with strategies for collaboration with outside partners.
Data Enrichment
Data enrichment is all about taking advantage of the data you already have and using it to strengthen the quality of your current insights. Through enrichment, you can integrate external data sources, investigate data patterns, gain a better understanding of customer profiles, and take actionable steps to increase ROI.
To summarize
A comprehensive restaurant account based analytics program can be a major advantage for restaurant technology providers. With the help of Brizo, you can gain a better understanding of the foodservice market, optimize sales and marketing efforts, find the best kitchen and partners, and enrich your data for deeper insights. Start your analytics program today and level up your business.
