The most essential ingredient in today’s foodservice business is data. To stand out among thousands of competitors, accurate market intelligence can help you make more strategic decisions and sell more effectively.
Achieving success in this highly competitive environment requires more than just quality products and effective marketing strategies; it hinges on the precision and reliability of your data.
This blog will discuss the importance of accurate menu data and how it can be leveraged to improve your business results.
Menu data can be analyzed to provide actionable insights for foodservice businesses, including distributors, manufacturers, and franchises.
Accurate data allows businesses to perform sophisticated market analysis, precisely identifying trends and consumer preferences.
For example, using a market intelligence platform like Brizo FoodMetrics, a food distributor could analyze the menu offerings of cafes in a particular state or city to adjust their product lineup accordingly.
For food manufacturers, understanding menu data can lead to better product development strategies.
If menu data shows a rise in restaurants offering gluten-free pizzas in Texas, a manufacturer could prioritize the development of gluten-free pizza bases.
With accurate menu data, marketing campaigns can be tailored more effectively. A food distributor might discover through restaurant data analysis that a certain establishment’s menu consists of multiple yogurt-based dishes. They can then target that specific establishment with sales and marketing campaigns for different brands of yogurt.
For vendors and suppliers, having up-to-date menu information is crucial for identifying potential clients.
A vendor specializing in organic products could use menu data to identify restaurants that are already using organic ingredients. Prequalifying establishments based on their menu allows the sales team to focus their resources on those most likely to convert.
The foodservice industry is constantly changing. As new establishments open, others close their doors. In addition, menu offerings and prices are frequently updated. For foodservice vendors and franchisors, it’s important to make business decisions according to current, accurate data on the market. Here are some ways they can keep up with the latest market changes.
Collecting data from a wide array of sources can help eliminate blind spots and better understand the market landscape.
Brizo aggregates foodservice establishment data from over half a million sources into a robust restaurant database, giving you a comprehensive view of the market. Powerful filters allow you to search for and segment establishments by business type, cuisine type, price range, menu items, and even specific ingredients, in addition to a number of other attributes.
Consider a franchise looking to expand its menu offerings. With access to robust menu data on the rest of the foodservice market, they can analyze what their competitors are offering and identify opportunities for menu innovation.
Your business needs to adapt rapidly to changes in restaurant offerings. Brizo FoodMetrics ensures its data is fully refreshed every 30 days, allowing for timely adjustments to your strategy and operations.
For example, a distributor specializing in seafood could leverage these menu updates to track when a new seafood restaurant opens in their territory, allowing them to promptly reach out and pitch their services.
Customer preferences can change quickly, and their honest feedback is a treasure trove of valuable insights. By taking customer reviews and ratings into account, your business can stay ahead of changing tastes and preferences.
Brizo’s ability to collect and aggregate the online footprint of the foodservice industry, including social media and review sites, is key to turning customer feedback into actionable data.
F&B distributors can:
Encourage collaboration between your marketing, sales, customer service, and product development teams to ensure everyone is utilizing the most recent menu data.
For instance, marketing and product development can join forces using the latest menu data to create campaigns centered around newly identified food trends.
By fostering a positive partnership, food and beverage distributors can establish a communication channel with restaurants to stay directly informed of upcoming menu changes. For instance, if they know an establishment plans to discontinue certain dishes or introduce a new seasonal item, suppliers can offer establishments the right products for their updated menus.
Stay informed of developments in health and nutrition science, as these often influence menu offerings.
For example, the rise in ketogenic diets has led to an increase in low-carb menu options.
Data is the compass that guides every successful food business in an industry where consumer preferences and market dynamics can shift overnight.
Brizo FoodMetrics delivers the most comprehensive, accurate, and current market intelligence to help foodservice manufacturers, distributors, and franchisors succeed.
Let’s explore how Brizo FoodMetrics can be the ingredient that makes a difference in your recipe for success. Contact us today.
