With the pandemic drastically shifting the way foodservice operates, restaurants around the world have had to rethink their strategies to stay in business. Brands need to understand the needs of their customers, and monitor the competition for insights into what they are doing to remain relevant. Fortunately, a restaurant market intelligence platform like Brizo can provide a suite of tools and data for deeper understanding and analysis of the foodservice industry, empowering brands to make decisions using thoughtful insights.
From enhancing data systems, to prospecting for sales, to targeting the foodservice market, and ultimately expanding operations, restaurant technology provides the much needed fuel to succeed in this highly competitive field. With market intelligence, brands can gain access to up-to-date menu data and stay ahead of the game. Further, they can monitor their competitors to better understand their strategies for marketing and pricing in the current market climate.
Sales Intelligence is an essential tool for restaurant technology providers. Market research tools enable the efficient acquisition of leads and go beyond just providing superficial data from customer surveys. They offer in-depth analysis about the trends in the foodservice industry – such as what customers are buying, when they’re buying, and what outlets are being visited more frequently. All of this data is invaluable for predicting the purchasing behavior of customers, and can be used to inform sales strategies.
Competitive Intelligence is also an important component of the foodservice industry, enabling restaurant brands to keep track of their closest competitors. Market intelligence can provide brands with insight into market trends regarding pricing, product offerings, and sales strategies. This can give them a better understanding of the marketing initiatives of their competitors, and enable them to make informed decisions for their own campaigns.
In addition, market intelligence can provide invaluable information about client’s kitchens which helps them to make decisions regarding the expansion of their operations. Kitchen intelligence can identify the restaurants that are in need of food delivery, allowing brands to create effective solutions to meet the needs of their customers. Knowing where to focus efforts and resources to maximize outcomes is essential for brand success in the foodservice market.
Data Enrichment is a crucial part of the restaurant market intelligence system, and involves adding more comprehensive market insights to existing systems for better decision-making. Market intelligence offers a number of data sector solutions, from industry and restaurant demographics, to menu pricing data, to customer feedback. This wealth of information can provide far better accuracy and enable brands to gain a better understanding of the market.
In sum, restaurant market intelligence is a powerful tool for restaurant technology providers, and it’s essential for staying ahead of the competition. With market intelligence you can uncover economic data, identify new markets, understand customer preferences, and more. By harnessing the power of data science, artificial intelligence, and big data analytics, restaurant technology providers can use market intelligence to make insightful decisions for their businesses.
