The foodservice landscape for beverage exporters is incredibly varied and complex. Every franchisor hoping to expand locations needs data-driven insights and analytics to pinpoint the most profitable opportunities and understand local food trends. All franchisors must understand the foodservice market from a comprehensive perspective before taking the plunge into new markets.
Getting to Know the Market
When getting into the foodservice market, franchisors must start by doing at least two things. First, effective research. They must research the local food service landscape, including consumer preferences, local laws and regulations, any taxes imposed on the products, and industry trends in the targeted markets.
Second, building relationships with local stakeholders. This includes understanding the local language, the local culture and developing relationships with local foodservice operators. It is essential for franchisors to understand the environment in their targeted markets. Going in blind can prove to be a costly mistake.
A franchisor must also establish a clear market entry strategy and timeline based on their research and relationship building. Additionally, they must be aware of any potential industry issues that may arise and be prepared to address them accordingly.
Essential Tools & Resources
To build an effective and successful entry into the foodservice market, franchisors should utilize tools that provide unparalleled in-depth menu data and restaurant analytics. These comprehensive data fields provide franchisors the key information necessary to identify and target the most profitable opportunities.
Tools and resources such as Brizo provide franchisors with insights that enable them to streamline production innovation and strategically expand their brands. They provide a board and diverse set of data for deeper foodservice market understanding and analysis, allowing for highly targeted research and prospecting. The additional data fields offer franchisors in-depth menu data and restaurant tech coverage to inform their decisions and enhance their awareness in the market.
Getting Potential Customers
When entering a new market, a franchisor should focus on getting potential customers. The most effective way of doing so is by optimizing marketing campaigns with targeted data-driven insights. Utilizing comprehensive data-led industry insights can help franchisors attract, convert and close more leads.
Additionally, franchisors should invest in their sales force. By equipping them with the necessary data-driven insights and analytics, sales agents will be able to generate more sales. Understanding the local markets and focusing on what resonates best with buyers is key.
Understanding & Focusing on Consumer Needs
To ensure customer loyalty and repeat sales, franchisors must focus on understanding and fulfilling their customer’s needs. By providing timely and relevant customer service and create relationships with customers, franchisors will be able to increase customer loyalty and satisfaction.
That being said, franchisors should also look into ways to innovate and differentiate themselves in the foodservice market. This may involve implementing new marketing strategies, providing customer incentives, or developing a clear and personalized customer experience unique to the brand.
Conclusion
The key to success for a franchisor entering the foodservice market is understanding the foodservice landscape, having the right tools and resources, optimising marketing campaigns with targeted data-driven analytics and insights, and focusing on customer needs. These strategies will help to drive sales and increase customer loyalty. With the right strategies and data-led insight, franchisors will be well positioned for success.
