data is the cornerstone of good decision making and for businesses to prosper, effective data collection, analytical and forecasting techniques are key. In today’s ever-changing and complex hospitality industry, where a slew of restaurant technology providers are vying for the attention of restaurateurs and chefs, understanding the foodservice market and deciphering the data amidst the myriad of digital trends and competitors is essential to remain competitive.
In this article, we will explore restaurant market intelligence apps –- what they can do, how to become familiar with them, and what the unique features of a particular intelligence app might tell us about the foodservice market. We will also discuss how Bogia’s restaurant market intelligence platform, Brizo, provides valuable foodservice market insights to help identify market opportunities for businesses.
The restaurant industry is ever-evolving, and with the persistent focus on shifting consumer trends, more restaurants are beginning to use restaurant market intelligence services. This is because restaurant market intelligence apps provide detailed insight into the market, allowing restaurants to make better business decisions and identify opportunities for growth.
The restaurant market intelligence apps provide customers with access to market data, including consumer trends, menu items, prices, key competitors, and more. Through understanding the current market conditions and future trends, foodservice businesses can make informed decisions about how to best serve their customers.
Tapping into the features of restaurant market intelligence apps can provide customers with valuable data-driven insights to make more effective decisions about operations, marketing, sales, and more.
Using Brizo’s Restaurant Market Intelligence
Brizo is a restaurant market intelligence platform that provides comprehensive market insights to help equip restaurateurs and foodservice businesses with the required knowledge to remain competitive and succeed in the ever-changing industry. Designed for a range of business objectives, Brizo delivers customized market intelligence solutions that go beyond just data aggregation.
Our platform provides customers with access to deep menu data and real-time industry insights, giving them the advantage of understanding the competition and making informed decisions about their own operations. Our in-depth research and reports provide customers with the unique information they need to make adjustments quickly and remain competitive.
By helping restaurants make sense of the market and identify opportunities, customers rely on Brizo for market performance measurement, data-driven menu segmentation, smart and targeted marketing, and more.
Sales Prospecting
An important use for restaurant market intelligence apps is sales prospecting. Using data to uncover leads and demographic insights in a short amount of time is essential for restaurant owners who need to quickly and efficiently reach potential customers.
The combination of data-driven market insights and analytics, real-time performance data, and progressive segmentation enables sales personnel to identify potential clients in the foodservice market. This data can allow sales teams to create higher performing campaigns, generate more leads, and give an edge over the competition.
Marketing to the Foodservice Market
Having access to detailed demographic and analytics data is also important for restaurants’ marketing departments. By leveraging predictive insights, restaurants can reach potential customers in the right place, at the right time, and with the right message.
It’s not just about finding customers — it’s also about attracting and converting them. By using detailed data insights about food trends, restaurant menus, average spend, seasonal insights, and more, restaurants can target their campaigns with previously unattainable precision.
Find Kitchens & Expand Operations
Equipping businesses to make informed decisions, industry insights can be used to strategically expand operations across areas and franchises.
By using restaurant market intelligence insights to identify operational opportunities and potential locations, restaurants can strengthen their foothold in the market. Having access to data and analytics enables restaurants to streamline production operations, raise average ticket prices, and grow their brand — resulting in more revenue.
Data Enrichment
In addition to providing valuable insights on the foodservice market, data-driven intelligence apps can enrich existing products and services. With data-enriched system capabilities, restaurants can better target customers and offer fully personalized experiences.
Through identifying customer preferences, giving recommendations on ingredients, and predicting menu trends, customers can quickly make decisions that will extend their reach and strengthen their brand.
