As technology and consumer tastes continue to evolve, staying ahead of the curve is more critical than ever for companies in the foodservice market. For restaurants, foodservice providers, and suppliers, understanding the menu trends, data, sales prospects, marketing opportunities, and competitive landscape can make the difference between success and failure.
Luckily, special data-driven insights and analytics provide the road map to success in both short and long term goals in the foodservice industry. From sales prospecting to marketing campaigns and production innovation, the foodservice market insights platform presents a comprehensive approach for companies of all sizes.
Transforming the Foodservice Market with Data-Driven Insights
In today’s landscape, leveraging data is not only imperative for mid-size companies but critical for survival for small business owners. For restaurants, uncovering the trends and preferences of the target market—regardless of season, geography, or cuisine—remains an arduous task. The increasingly competitive restaurant market requires operators to continuously innovate and differentiate. Even with dedicated teams, achieving actionable insights from internal data sources can be difficult to execute.
Compound this problem for operators and suppliers alike, and the risk of inefficiency is exacerbated. To navigate these daunting challenges, restaurant owners and suppliers need an intelligent and comprehensive data-driven solution. Brizo’s foodservice market insights platform provides detailed product-level tracking and menu item data, business intelligence, and trend tracking to research how the market is changing and what the consumer demand holds.
Deep Dive to Increase Sales Prospecting and Optimize Operations.
On a fundamental level, being able to see how the menu trends are turning enables restaurant owners to make smarter decisions when developing their concept and menu items. Each year, restaurants expend downtime finding new suppliers and vendors, researching competitors, and formulating new marketing materials. All actions that do not benefit menu item sales.
For instance, Retauraneur’s menu tracking software helps restaurants stay up-to-date with menu item sales and competitor tracking. With the platform, restaurant owners can pull sales and pricing data by item and location and connect with their suppliers. Similarly, Brizo’s platform provides product-level tracking and menu item data that can be managed and accessed from any device.
By gaining insight into menu trends and analyzing the competitive landscape, restaurant owners can make more informed decisions on when to roll out new items, sales opportunities, and pricing. All of which helps increase sales, optimize operations, and reduce inefficiency.
Leveraging Data to Attract, Convert and Close More Sales Leads
When it comes to foodservice markets, big data platforms can provide unique insights that can make or break the deal. Effectively targeting and understanding conversions helps companies capture long-term growth through marketing strategies.
For instance, food service suppliers can use menu frequency and count to gain a better understanding of their customers’ preferences and needs. By analyzing the popularity of certain items, suppliers can anticipate their customers’ orders and proactively source their ingredients from vendors in advance. Similarly, using deep learning insights and powerful data platforms for automated prospecting, organizations can identify potential customer leads, engaging in more precise campaigns to create powerful partnerships.
Find Kitchens and Expand Operations
Cutting costs and improving efficiency are ever-present goals for restaurants. By leveraging sales intelligence, competitive insights, and marketing intelligence, foodservice providers can streamline their operations in pursuit of their expansion plans.
By utilizing Brizo’s foodservice market insights platform, restaurants can identify all kitchens within their particular area. Additionally, they can uncover their competitors and gain competitive intelligence within the same vicinity, allowing restaurants to stay up to date with menu item sales trends.
Data-Enrichment and Upgrading Decisions with Confidence
The foodservice market insights platform also helps bridge the gap between customer data and operational systems. By being able to identify customer needs, Metro-servers can more accurately segment their customers and personalize their campaigns. Similarly, restaurant owners can better understand the best time to capitalize on meal trends and drive more customers to their doors.
The data-enrichment process enables companies to draw more insights out of their existing customer base and visit patterns, by combining high-level metrics with their current operational and customer data. As with sales and marketing intelligence, data-enrichment leads to improved confidence in decisions, better targeted campaigns, and a stronger bottom line.
Transforming the Foodservice Market with Future Prospects
As technology continues to reach new heights, the foodservice market is left to ponder what the future holds. Powered by data and enriched with insights, the restaurant industry can remain agile and maximize potential growth.
Brizo provides the platform for researching and prospecting the foodservice market with unique data fields specific to the industry. Providing sales intelligence, competitive intelligence, marketing intelligence, find kitchens and expand operations, as well as data-enrichment insights is essential for companies in the foodservice market. From sales prospecting to production innovation, use the foodservice market insights platform to make smarter, data-driven decisions and advance your business in the right direction.
