Restaurant owners and franchisors need to stay informed of the latest market trends and customer preferences if they are to remain competitive in a crowded, fiercely competitive market. However, uncovering actionable insights from the ever-changing landscape of the foodservice industry can be a daunting task for many businesses.
Market intelligence services specifically geared towards restaurants, such as Brizo’s, are answering the call for greater foodservice market understanding and analysis. Through a comprehensive database of data, including unique information fields exclusive to the foodservice industry, restaurant owners can benefit from keen insights – from menu analysis and restaurant tech coverage to data-driven sales prospecting and marketing. No matter the size or growth stage of the restaurant, market intelligence services such as Brizo can facilitate the growth and success of the business.
If you are a franchisor hoping to expand your business or a restaurant owner wanting more comprehensive market insights, here are the fundamental steps for getting started with market intelligence services.
Sales Prospecting
Effective sales prospecting is essential for any restaurant business. You must have a quality list of contacts to begin the sales process. Market intelligence services can equip your sales team with crucial insights to build effective sales campaigns with ease. Through customized, up-to-date data points, you can analyze customer profiles, create timely segmentations, develop a targeted message, and track leads.
Marketing
Marketing to the foodservice market can be difficult due to the ever-changing tastes of restaurant-goers. With a market intelligence service, you can gain a better understanding of the market, attract more leads, and improve your conversion and close rates. Targeted marketing campaigns leveraging invaluable market insights can take the guesswork out of the equation and ensure that your message resonates with the desired interests of the target market.
Streamlining Production & Expansion
Finding ideal kitchen locations and expanding your operation is a major challenge for any restaurant and requires great market knowledge. Through market intelligence services, you can have access to in-depth location intelligence data including information on demographics, competitors, and the local economic climate. With this data, you can locate ideal kitchens for maximum efficiency, adjust restaurants to meet customer needs, and plan out successful expansion strategies.
Data Enrichment
Through the data collected by market intelligence services, you can tell a more comprehensive story about your restaurant. You can collect, measure, and analyze more comprehensive market insights and make better, more informed decisions. You have access to various data points that would otherwise be unavailable. By enriching your systems with data-led insights, you will be able to better gain market share and maximize customer lifetime loyalty.
