Exciting news: Brizo FoodMetrics has been acquired by Datassential! Learn more.
At the heart of every successful restaurant franchise lies a solid understanding of the foodservice market around it. What’s trending? What types of restaurants are popping up nearby? What types of marketing initiatives are working? How will the foodservice market in the next 5 years? These are just a few of the questions that franchisors should answer in order to make careful decisions that will drive long-term success.
Fortunately, with the help of ad intelligence programs like Brizo, restaurant franchisors have a powerful tool to explore and gain insights into their local foodservice market. In this guide, we will introduce you to Brizo and its capabilities, explain how you can use it to gain insights into the foodservice industry, and look at the typical questions and data points a franchisor should regularly use to evaluate their market.
What Is Brizo?
Brizo is a comprehensive ad intelligence program specifically designed for foodservice businesses. It covers a broad range of markets and offers information and analytics tools to help business owners gain better insights into the foodservice industry. From menu analysis to restaurant tech data to sales prospecting, Brizo provides comprehensive data-analysis tools to help you evaluate your foodservice market.
Brizo provides data from a variety of sources, including restaurants, restaurants owners, foodservice industry suppliers, and menu researchers. The data is collected over millions of sources over the course of several years, giving you a clear picture of the trends that are impacting the foodservice industry. This data is then organized into actionable data points such as sales insight, market coverage, and restaurant tech insight.
Using Brizo to Get Foodservice Market Insights
At its core, Brizo gives you the ability to gain a more targeted understanding of the foodservice market. The data collected is organized into categories, such as menu data, restaurant insights, sales prospecting, marketing, and analytics. In each category, you can find information on everything from menu pricing to customer preferences and technology trends. You can also use the data to find new opportunities to expand operations or generate new leads.
In addition to providing comprehensive data analysis, Brizo also offers a wide range of tools such as filtering and segmentation to narrow the scope of the data you’re looking at. For example, if you want to get a better understanding of how to better target a certain demographic, you can use Brizo’s filtering capabilities to focus on that specific population. This allows you to get more detailed insights into the foodservice market as a whole and compare different market trends with one another.
With Brizo, foodservice businesses can also use data enrichment to match up different data points for a more comprehensive understanding. For example, you can use Brizo to combine sales data with customer feedback to create an analysis that shows the success of certain menu items or customer preferences.
Questions Franchisors Should Ask when Evaluating the Foodservice Market
When evaluating and understanding the foodservice market, the most important thing for franchisors to ask is “What do our customers want?” Knowing what your customers want in terms of menu items, technology, and marketing can help you make better decisions about the type of restaurant you offer and how you market it.
To answer this key question, franchisors should use menu data to evaluate which menu items are most popular and how they’re priced. Additionally, they should look at customer feedback to determine what types of restaurants people prefer and what they don’t like. Additionally, controlling for external factors such as seasonality, franchisors should continuously assess data from restaurant technology to see what types of technology trends customers are most interested in.
By properly evaluating the foodservice market, franchisors will be better able to identify opportunities in their local markets to capitalize on and optimize their restaurant’s operations. Brizo is a powerful tool to assist them in doing just this, as it provides detailed, data-driven insights and analytics to help create informed decisions.
Overall
Investing in an ad intelligence program like Brizo can be a great way for foodservice businesses to gain a more comprehensive understanding of their local markets. By using data from a variety of sources to track menu, technology, and customer preferences, franchisors can better evaluate their markets and implement necessary changes to optimize their restaurant’s operations for long-term growth.
