Consumer brand tracking is essential to the success of the foodservice industry, providing invaluable insight on customer preferences and help businesses make informed decisions. Foodservice brands rely on this data to determine key sales and marketing strategies and to deliver products and services that are aligned with consumer preferences. To help navigate the complex world of foodservice brand tracking, we’ve put together a list of the top ten considerations for foodservice consumer brand tracking.
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1. Consider Tactics to Identify and Fulfill Consumer Needs
The first step in consumer foodservice brand tracking is to understand the wants and needs of existing and prospective customers. It’s important to identify key factors that are making customers choose one foodservice provider over another, including convenience, quality, price, reputation, and menu options. As brand tracking research is being conducted, it’s important to look for patterns in consumer behavior that can be leveraged by the brand.
2. Utilize Advanced Analytics and Monitoring Tools
As brands track consumer data, it’s important to utilize advanced analytics and monitoring services to capture the most accurate and precise insights. The more comprehensive the insights, the more accurately the brand can design and implement their strategies. It’s essential for businesses to compare and analyze their performance against competing brands to understand the impact of their consumer outreach and track long-term success.
3. Analyze Competitor Performance
Tracking consumer preferences doesn’t start and end with the brand’s own performance. To get a more comprehensive overview of the foodservice market, brands should look at how their competitors are promoting their products, pricing, and services. Analyzing the performance of rival brands will provide insights on where the market is heading for prospective customers, as well as future trends that the brand should be prepared for.
4. Utilize Data Enrichment
Data enrichment allows companies to collect more comprehensive data that gives them a more accurate and detailed representation of consumer preferences. Data enrichment involves gathering data from multiple sources, including surveys, interviews, focus groups, and social media. This data allows for better mapping of customer paths and can be used to tailor marketing and advertising strategies so that it more closely aligns with customer needs.
5. Track Online Reviews and Feedback
As part of their brand tracking strategy, businesses should also track customer reviews and feedback on their products and services. It’s important to monitor and address negative reviews to ensure that customer complaints are being addressed. Doing so will allow brands to correct any issues and maintain a positive reputation. It’s also important to stay on top of positive reviews and use them as additional marketing material.
6. Take Advantage of A/B Testing
A/B testing is an invaluable tool for consumer tracking as it allows brands to identify the best promotional strategies for their products and services. The process involves testing two different approaches with two separate sets of customers. The results of the test can then be compared to determine the more effective approach. The results can then be further analysed to find out specific preferences of target customers and then used to refine marketing strategies.
7. Track Customer Reviews on Social Media
Social media is a powerful tool for consumer data collection and brand tracking. Consumers tend to be more open and honest with their opinions when sharing them on social media. This can provide valuable information on customer perceptions of a brand’s products and services, as well as insights into what customers want. Monitoring customer reviews on social media also allows businesses to quickly assess customer sentiment and take action if necessary.
8. Utilize Automation Tools to Streamline Data Collection
Data collection is a time-consuming process. Automating the process can help streamline the process and significantly reduce the amount of time needed to gather customer data. Automation can also help brands capture more timely insights, as well as reduce the chance of errors caused by manual data collection.
9. Focus on Quality Data
When collecting consumer data, quality is key. Quality data will provide the most accurate insights on customer preferences. Low quality data can lead to inaccurate conclusions and misleading or ineffective strategies. Brands should focus on collecting high-quality data from reliable sources that can provide them with accurate information.
10. Use Insights to Make Better Decisions
Consumer data should be used to inform business decisions from the outset. Collecting data is less useful if it’s not then used to adjust operations and resource allocation. Utilizing data-driven insights to inform decisions will ensure that they are based on reliable information and have a greater chance of success.
