As a franchisor looking to expand your locations and understand local food trends, the new world of insight foods can be daunting. With the development of big data and data enrichment services taking off, it’s important to keep up with the most important things to consider when it comes to utilizing insight foods. Brizo provides a one-stop data solution specifically designed for the foodservice industry. It allows you to focus deeply on menu data, prospecting for sales, enhancing marketing initiatives, finding kitchens, and expand operations. Here are the top 10 things to consider when it comes to insight foods:
1. Data Quality: When it comes to analyzing data from a variety of sources, it’s important to make sure the data is of the highest quality. Poor data quality yields results that are unreliable and can result in costly mistakes. Instead, prioritize data quality and work with sources that use reliable collection methods.
2. Data Accuracy: If the data is wrong or outdated, it can lead to wrong decisions. Accuracy is key, so it’s important to make sure that the data you’re working with is up to date and accurate. Work with providers that use multiple sources to verify the data.
3. Real-Time Responsiveness: If you’re working with multiple sources, it’s important to have the ability to have the data react quickly to changing market conditions. Choose sources that are able to respond nearly instantaneously to changes in the market.
4. Sales Prospecting: With data from multiple sources, it’s important to be able to focus in on specific markets for sales. Look for sources that are able to provide detailed market data to understand potential customers.
5. Marketing & Lead Generation: Being able to understand the markets you’re targeting and specific customer preferences are key for effective marketing and lead generation. Try to find sources that provide detailed customer profiles and preferences for more effective marketing.
6. Finding Kitchens & Expansion: Finding the right kitchen for expansion can be difficult. Utilizing sources that can provide detailed details such as costs and required permits can make this process easier.
7. Menu Analysis: Understanding what customers are looking for in terms of foods can be tricky. Utilize sources that can provide menu analysis to understand what foods are being sought out.
8. Pricing Models & Strategies: In highly competitive markets, price can be tricky. Utilizing data sources that provide detailed pricing analysis to make sure you’re competitive in the market.
9. Research & Development: Understanding the trends of the market is important for concepts in research and development. Look for sources that can provide detailed insights on consumer trends and preferences.
10. Data Enrichment: Ensuring that you have detailed and comprehensive data is key for analysis and making decisions with confidence. Utilize sources that can provide data enrichment for more detailed insights.
By utilizing these 10 key considerations for insight foods, franchisors can gain a competitive edge in a highly competitive market. Utilize these recommendations and find the sources that best meet your needs to maximize success.
