Top 10 Things to Consider When Monitoring Foodservice Market Data

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Foodservice Monitor

The foodservice market is an incredibly complex and interconnected web of businesses and industries. From farmers and their crops to customers enjoying their meal, the market covers a wide range of operations and processes. Marketers, sales teams, and businesses must consider several different facets when monitoring the foodservice market. Brizo provides an array of data fields specific to the food service industry to help companies better understand and analyze the market. In this article, we’ll dive into the top 10 things to consider when assessing foodservice markets.

1. Perfect Your Menu

Menus are the foundation of restaurants and foodservice operations. Analyzing restaurant menus can help you understand what items are selling, what’s going out of style, and the latest trends in foodservice. Reevaluating your menu from time to time is essential as customer preferences and trends continuously evolve.

2. Get insight into food items

Food items generally refer to ingredients, recipes, dishes, and other similar items that comprise a full menu offering. Understanding how ingredients and recipes are used in customer-facing menus can help inform your foodservice marketing and sales strategies.

3. Analyzing customer preferences

Consumer behavior can vary drastically from culture to culture and from country to country. Utilizing restaurant tech coverage and data enrichment can help you gain an in-depth understanding of customer preferences.

4. Look into Foodservice Market Logistics

From the time a food item is ordered to when customers receive it, there is a lot of logistical movement. Analyzing foodservice market logistics such as delivery times and shipping costs can help you optimize your operations.

5. Use Market Intelligence to Streamline Production

Utilizing market intelligence and data-driven insights can help you streamline production and expand your foodservice operations. Market intelligence can be used to identify opportunities for new products and provide competitive pricing.

6. Streamline the Purchasing Process

Collecting market data can help you develop strategies to streamline purchasing. This information can also assist in finding the best suppliers and negotiating pricing.

7. Identify and Qualify Prospects

Having access to foodservice market insights and data analysis can help you identify and qualify prospective customers. Doing so can help you effectively impact your sales process.

8. Utilize Restaurant Driven Tech

The use of restaurant driven tech can help you stay on top of trends, utilize automation, and provide a superior customer experience. This technology includes e-commerce, online ordering, and menu management.

9. Outreach to the Foodservice Industry

Outreaching to the foodservice industry (e.g, distributors, suppliers, manufacturers) can generate leads and increase opportunities for partnerships. Utilizing market insights can help you understand who to target and what messaging will be most effective.

10. Sales Prospecting

Ideally, companies should have a proactive approach to sales prospecting. Utilizing foodservice market research and data will enable lead generation and ultimately expand your customer base.

At the end of the day, utilizing foodservice data is essential for businesses that rely on it. The insights provided by Brizo’s state of the art data sets are invaluable, enabling marketers, sales teams, and businesses to make informed decisions with confidence and deepen their knowledge of the foodservice market.