In a landscape increasingly saturated with restaurants, franchisors must actively source new opportunities to stay on top of consumer demand. Breaking into an unknown market can be intimidating and requires much research to understand the nuances of the local area. To that end, many franchisors and restaurant data.com/en/solutions/restaurant-chains/’ target=’_blank’>chains have sought out helpful “prospecting” tools to analyze the data necessary to make informed decisions when expanding into local foodservice markets.
Enter Brizo, a powerful analytics platform that provides comprehensive market insights into the foodservice industry. They provide in-depth menu data, restaurant tech coverage, sales prospecting capabilities, and marketing solutions to enable expansion and streamline production processes. Their focus on account-based analytics allows for a deeper understanding of the foodservice market and facilitates greater efficiency when it comes to anticipating customer desire and making informed decisions within local markets.
Account based analytics is a unique approach used by food company executives to gather insights about their customers in order to improve sales and revenue. While most data analytics focuses on macro-level trends over a large customer base, account portfolio metrics focus on specific customers or industries in order to more specifically target desired audiences. These insights help unlock potential growth opportunities and inform marketing and expansion efforts.
Overall, account-based analytics is a powerful tool for restaurant operators looking to skillfully expand their operations. The key advantages are:
1. Pinpointing areas of opportunity: Analyzing individual customers allows for greater accuracy when it comes to uncovering new potential growth opportunities. Account-level metrics enable more precise insights into customer needs and wants, ultimately leading to more informed decisions when it comes to restaurant expansion.
2. Strengthen competitive advantage: By understanding the counts and availability of competitors at the customer account level, companies can more accurately craft targeted campaigns that mark them out as the preferred choice. Moreover, understanding the competitive landscape of a particular area can help override any price disadvantages a company may have.
3. Improve ROI: With the wealth of data gathered from account-level analytics, companies can better understand their customer base and make wiser decisions when it comes to allocating budget. This, in turn, leads to greater return on investment in terms of marketing and sales campaigns, as well as product innovation cycles.
All in all, account-based analytics are a powerful tool for restaurant operators looking to new opportunities in local markets. With the help of third-party analytical services such as Brizo, restaurant operators can make data-driven decisions and confidently move forward without fear of market saturation or missing growth opportunities. By leveraging account-based analytics, franchisors and restaurant chains can unlock their full potential and stay ahead of the competition.
