Success in the restaurant business comes from anticipating and responding to ever-changing market needs and trends, understanding customer behavior, and being able to adjust quickly and accurately. But for most restaurateurs and franchise owners, the complexities of the restaurant industry make forecasting, managing, and competing dauntingly challenging.
That’s why more restaurant owners and franchises are turning to market intelligence services like Brizo to unlock the potential within the restaurant industry. With Brizo’s highly targeted data fields, restaurant owners can leverage in-depth menu data, technology coverage, sales prospecting and marketing insights, and other unique data points to expand their reach, attract more leads, close more deals, and better understand their customer base.
In this article, we’ll explore how market intelligence services can help franchisors locate and explore new kitchen locations, prepare strategic expansion plans, and leverage industry intelligence to maximize growth and impact.
Sales Prospecting in the Foodservice Market
A primary benefit of market intelligence services like Brizo is their ability to equip a sales team with hard numbers, fueling data-driven insights and analytics. With a greater understanding of the foodservice market, a franchise owner can identify specific chain trends and target customers more accurately.
The key to a successful sales process is data-driven decision-making, targeting customers with accurate content and tailoring the message to fit their needs. With the right market intelligence data, franchisors can get a better understanding of the total addressable market, identify their target audience, provide in-depth market analysis, and create a detailed customer segmentation system.
Marketing to the Foodservice Market
Data-driven marketing is the hallmark of a good franchisor, and market intelligence provides the foundation on which successful marketing strategies are built. With access to unique data points, a franchise can more accurately capture, convert, and close leads.
But more than identifying leads, market intelligence services can also provide useful customer insights. Analyzing customer data allows franchisors to better understand their target audience, their preferences, and their behaviors. This data can help drive campaigns and deliver content that caters to specific audience interests and increase ROI.
Find Kitchens & Expand Operations
Beyond marketing and sales, market intelligence can also help a franchisor streamline kitchen production and new product lines. By collecting market-specific and restaurant-specific data, franchisors and restaurateurs can gain a valuable perspective on the food service market and better innovate their operations.
Market intelligence services can help restaurateurs analyze the menu and positioning of their competitors, identify promising opportunities, and analyze consumer trends. By tracking customer purchase habits, franchisors can develop a real-time view of their market and adjust their strategies accordingly. In a highly competitive market, data-driven insights are the key to expansion and growth.
Data Enrichment
Finally, market intelligence services are the foundation of successful data management. Franchise owners can clean and enhance their existing data to make better decisions with confidence.
Data enrichment through market intelligence services can help a restaurant or franchise pinpoint valuable data fields, consolidate systems, and improve customer service. With comprehensive insights and analytics, restaurateurs can develop more robust internal systems and have confidence in their marketing, sales, and operations.
Conclusion:
Market intelligence services for restaurants are an invaluable resource for restaurant owners and franchises looking to expand their reach and better understand their market. With access to comprehensive menu data, restaurant tech coverage, sales prospecting and marketing insights, and more, these services can help franchise owners find new kitchen locations, streamline production and innovation, target customers accurately, and enhance systems with direct market insights — all of which can have a major impact on franchise success.
