The foodservice industry is highly competitive and customers have a significant amount of choice when it comes to dining out. As a food product distributor, you need to know who to target to ensure you are in the best position to capitalize on the abundance of opportunities available. Statista predicts the global U.S. foodservice market will reach $433.6 billion by 2024. To ensure you receive the lion’s share of that opportunity, you need to use competitive intelligence services for restaurants to discover key insights and connect with the right restaurants to maximize your profits.
To mitigate the risks faced in the highly-volatile foodservice industry, competitive intelligence services for restaurants allows you to gather insights into eatery habits of your specific target market. With foodservice competitive intelligence services, you have access to comprehensive surveys, data insights and analytics that give you the opportunity to anticipate trends and gain an advantage over your competitors.
Key Points on Competitive Intelligence Services for Restaurants
In this article, let’s explore the key points on competitive intelligence services for restaurants and how it can help you maximize your profits.
1. In-depth menu data and restaurant tech coverage
With competitive intelligence services for restaurants, you can get a better understanding of the foodservice market. Brizo offers a board and diverse set of data for deeper market understanding and analysis. Our data allows you to conduct highly targeted research and prospecting of the foodservice market with unique data fields specific to the food service industry. This includes in-depth menu data, restaurant tech coverage, and sales prospects for your targeted market.
2. Sales prospecting in the foodservice market
Sales prospecting is the practice of identifying potential buyers for a product or service. With competitive intelligence services for restaurants, you can equip your sales team with data-driven insights and analytics to spot potential buyers and close deals. You can also make use of the data available to conduct targeted consumer surveys and analyze the most profitable customer segments.
3. Marketing to the foodservice market
Attract, convert, and close more leads with data-led industry insights on the foodservice market. With competitive intelligence, you can keep your marketing campaigns ahead of your competitors and align them with the latest trends. This can help you develop and implement strategies to boost customer engagement and satisfaction.
4. Find Kitchen & Expand Operations
Using competitive intelligence data, you can streamline production innovation and strategize your brand expansion. With the help of data insights, you can identify the most profitable and potential customer segments, and explore new options to expand your restaurant business.
5. Data enrichment
You can also enhance your systems with accurate data and make decisions with confidence. With comprehensive market insights, you can make sure that your strategies are customer-oriented and driven by the most up-to-date trends. You can also make use of the data to identify opportunities and make investments with confidence.
The essence
Competitive intelligence services for restaurants can give you a clear edge over your competition. With data-driven insights, you can identify the most profitable customer segments and develop strategies to attract and close more leads. You can also make use of the data to streamline production and expand your operations.
