With the expansion of the foodservice sector, restaurants are looking to increase their offerings and drive growth. The latest foodservice market intelligence highlights trends in the restaurant industry and opportunities in technology and menu items. In the competitive restaurant landscape, understanding what the fastest-growing restaurants are considering and implementing into their operations can provide valuable insight.
To help restaurant owners and technology providers, this article outlines the top ten things to consider when researching fastest-growing restaurants in the foodservice market. These strategies and insights can cover multiple aspects of the foodservice market including sales prospecting, menu items, restaurant technologies, and data enrichment.
1. Sales Prospecting in the Foodservice Market
Sales prospecting for restaurant technology and products is key when researching the fastest-growing restaurants in the industry. Understanding the restaurant market is the first step in crafting a sales strategy. The Brizo database offers sales prospecting insights to target the right restaurants at the right time.
Sales data that tracks restaurant openings and closing, as well as the different sales channels they utilize to reach their customers, will help sales teams understand new opportunities. With restaurant tech and products, sales teams can target the right restaurants quickly and effectively.
2. marketing to the Foodservice Market
To reach the restaurant industry, restaurant technology providers must develop a comprehensive marketing strategy. Craft marketing strategies that focus on the lifecycle and needs of restaurant customers. From the initial attraction stage to conversion, customer service, and customer retention, a comprehensive marketing plan allows for more insights into the market and a better understanding of the customer base.
In addition to traditional marketing tactics, digital marketing strategies such as email newsletters, search engine optimization, and targeted campaigns can also be beneficial.
3. Find Kitchens & Expand Operations
With the ever-growing demand for restaurant technology and products, restaurant owners are keen to expand their operations. To capitalize on this opportunity, restaurant technology providers need to know where to find new kitchen space.
Utilizing data from Brizo and other sources, restaurant tech providers can uncover new kitchen locations with ease. Knowing which areas have the most new restaurants and which areas already have a concentration of restaurants provide insights on where to invest in kitchen expansion efforts.
4. Streamline Production Innovation
At the height of the foodservice industry, restaurants are always innovating and developing new menu items. Restaurant technology providers need to stay ahead of the competition to serve the needs of their restaurant clients.
Using data to understand customer buying habits, restaurant trends, and the available ingredients and suppliers for quick purchase, restaurant tech providers can provide valuable products and services that streamline the food production process.
5. Data Enrichment
In the foodservice market, having the right data is critical. Restaurant technology providers must enhance their systems and build on data resources. Data enrichment tools on Brizo allow restaurant professionals to fill their system gaps with more accurate foodservice market insights.
With comprehensive market insights, restaurant tech providers can make more informed decisions on restaurant tech to better serve their clients.
6. Competitive Intelligence
The foodservice market is highly competitive. Knowing what your competition is up to is an important part of succeeding in the market. Understanding the competition’s menu, top products, pricing, and marketing strategies can provide vital insights into the market and make your product or service stand out.
Utilizing competitive intelligence, restaurant tech providers can gain an edge over their competitors. Utilizing tools from Brizo and other sources can uncover new competitive insights.
7. Delivery & Takeout Insights
In today’s market, delivery and takeout are becoming increasingly popular among consumers. Understanding the purchasing behavior of customers is essential for restaurant technology providers.
Data from Brizo and other sources can provide insights into when customers order delivery, what they order, and why they order. This data can provide useful information on sales, marketing, and operations.
8. Menu & Pricing Strategies
One of the most important aspects of restaurant operations is a restaurant’s menu. Knowing what menu items are popular, the type of ingredients used, prices, and food trends are all important aspects of growing a restaurant’s business.
Advanced data analysis and insights on Brizo can provide an in-depth look at menus and pricing strategies. Restaurant technology providers can compare menus from different restaurants in different regions and understand the differences in sales and customer preferences.
9. Innovative Technology & Equipment
It’s important for restaurant technology providers to understand the latest technology and equipment being utilized by restaurants. Having a comprehensive understanding of the tools and solutions being used by restaurants helps develop the best products and services for their clients.
Data from Brizo and other sources can provide insights on which technologies and equipment are the most popular in today’s market.
10. Expansion of Services & Offers
The fast pace of the restaurant industry requires restaurants to continually seek new services and offers to drive sales. Restaurant technology providers must keep up to date on emerging trends and the latest services and offers being provided to customers.
Data and insights on Brizo can provide restaurant technology providers with a better understanding of how services and offers have changed over time.
In summary
The foodservice industry is constantly changing and evolving. To succeed in the competitive restaurant landscape, it is essential to understand the strategies and tools being used by the fastest-growing restaurants. By taking into account the top ten things presented in this article, restaurant technology providers can develop a comprehensive understanding of the restaurant market and give their clients the ultimate advantage.
