As a data provider, insights into the food service industry can be an invaluable asset in order to stay competitive. Data is a powerful tool for businesses to understand how to both optimize and differentiate their offering. In order to stand out from the competition, access to timely food service market intelligence can drive informed decisions and propel brands forward.
At Brizo, we strive to provide timely insights in the food service industry, enabling businesses in the sector to not just survive, but to thrive. Our data-driven insights allows restaurant technology providers to optimize every area of their operations, which includes but is not limited to sales prospecting, marketing, and operations streamlining. Before diving into a restaurant marketing database, there are a few key considerations to make.
1. Company Size: Is the database you are considering suitable and comprehensive enough for the size of your company? Most databases provide information and insights on national, regional, and corporate restaurant and foodservice companies but may lack the granularity for smaller businesses. It is essential to ensure the data tilts towards the company size you are targeting in order to get the most out of the database.
2. Geography: Depending on the size of the business and the area of focus, it may be essential to determine if the primary focus of the database is on US data or if it is global. Knowing where the data is sourced from and the availability of international insights is a critical factor to consider.
3. Merchant + Restaurant Coverage: Some databases may be great for restaurant operators, while others may provide more insights on the consumer-side. Restaurant marketing databases should provide insights into market segments, foot traffic, and restaurants, and be able to provide segment-level data like trends in technology adoption, menu offerings, and restaurant dining trends.
4. Menu Coverage: Restaurant marketing databases should cover the entire menu, including variations on ingredient combinations as well as unique menu items, while still providing the necessary context around the cost of items, which can vary by region.
5. Technology Coverage: Along with menu coverage, technology coverage is also essential. Up-to-date information on point-of-sale systems, reservation tools, and mobility solutions are essential for sales prospecting and competitive intelligence.
6. Integrations: Integrations are encouraging for restaurant technology providers, as they enable smoother processes and operations, thereby providing a better customer experience. This is especially important for successfully integrating payment solutions, customer relationship management tools, and marketing campaign automation.
7. Market Insights: Does the database provide insights and analytics based on customer preferences and purchase behaviors? An in-depth understanding of customer demographics and purchasing trends, such as frequency of visits, average spend, and most popular menu items will allow restaurant technology providers to target campaigns more accurately and optimize the customer experience.
8. Competitive Intelligence: What insights does the database provide on the competitive landscape? A thorough assessment of competing restaurant technology providers can provide valuable insights on not only who the providers are, but also who is offering solutions, which offer more value, and which ones are gaining more traction.
9. Support: Database providers should have technical support ready to help with any technical queries and give customer service solutions to any queries about the data.
10. Cost: Cost considerations are essential, especially when it comes to data subscriptions. It’s important to always understand the cost associated with the database, and not just be drawn in by the initial cost. Are there any additional costs such as maintenance fees or extra fees for certain services?
By understanding the considerations above, restaurant technology providers can make an informed choice to maximize their game-plans and build a competitive edge. At Brizo, we aim to make data the last word in food service market intelligence and provide the insights and tools to keep restaurant marketing database providers at the top of their game.
