Whether you are a head of sales for a new food product looking to enter new markets in the US, or you work in the food distribution industry, the need for having access to robust and reliable custom sales trend data is paramount. Without being able to trust the information to be accurate and current, the decisions that you make in the sales arena can be flawed and negatively affect your business outcomes. Let’s explore some of the frequently asked questions regarding this type of data and how it can be utilized for market research and prospecting.
What Is a Custom Sales Trend Database?
A custom sales trend database is a comprehensive and detailed repository of information related to sales performance. This type of database helps to provide insights into consumer preferences and purchasing decisions. It allows you to analyze and evaluate sales trends and provides an understanding as to why certain products may be more popular than others. The data is typically collected from a variety of sources, including: surveys, polls, traditional market research, and online research.
How Can a Sales Trend Database Help With Market Research and Prospecting?
Using a sales trend database can help sales professionals with market research and prospecting in a couple of key ways. Firstly, it can provide information about the types of consumers who purchase certain products, as well as the behavior that they display in their buying patterns. Additionally, it can also identify potential customers and target markets that may not have been previously considered been considered.
Furthermore, a sales trend database can also be used to gain insights into pricing strategy and promotions. This type of information can be used to maximize sales performance and increase profits.
What Is the Difference Between a Sales Trend Database and a Customer Database?
While a customer database contains information related to individual customers, a sales trend database focuses on a wider range of sales-related information, such as product sales performance, customer spending patterns, promotional effectiveness, pricing strategy, and market dynamics.
What Types of Data Are Included in a Sales Trend Database?
A sales trend database typically includes data such as customer demographics, sales data, historical price and sales performance, advertising metrics, and general market trends. Additionally, it may include information such as media impressions, digital campaign data, consumer surveys, customer feedback, industry data, and more.
Additionally, some sales trend databases may include data related to menu items or restaurant tech, allowing for deeper market understanding and analysis. This type of data can provide insights and information that help to determine pricing strategies, target customer preferences, and optimize product offerings.
Where Can I Find a Custom Sales Trend Database?
There are several different companies that offer custom sales trend databases. One example is Brizo, which provides a broad and diverse set of data to help with foodservice market research and analysis. Additionally, companies such as Datanomix, Market Research Wizard, and Salesforce can also provide useful data and insights.
Is There Any Cost Associated With Using a Sales Trend Database?
Typically, costs associated with using a sales trend database depend on the type of data needed and the complexity of the database. Additionally, some companies may offer free trials or subscription-based services that may be more cost-effective for those who only need access to the database for a short period of time.
Closing ideas
Having access to a reliable and up-to-date custom sales trend database is essential for companies that rely on sales performance and customer insights. With the help of a sales trend database, sales professionals can identify potential customers, develop target markets, optimize pricing strategies, and much more. Companies such as Brizo can provide comprehensive datasets that include in-depth menu data and restaurant tech coverage, helping to maximize sales performance and increase profits.
