As the landscape of the food service and restaurant industry continues to evolve, data providers must leverage new data-driven insights to keep up with the demands of customers and remain competitive. Brizo’s market analytics platform provides industry-specific market insights that equip restaurant technology providers with the data they need to make informed decisions that support sales, marketing, and brand expansion.
To maximize restaurant performance, restaurant tech providers need to use market research to uncover key industry trends and assess the competitive landscape. This article will provide an overview of how to implement market research and use the data to strategically expand a brand, drive sales, and optimize campaigns for restaurant industry customers.
Gather Accurate Food Service Market Data
The first step in implementing market research is to collect accurate data. Traditional methods of market research involve manually collecting data through surveys, interviews, and focus groups, but the process is often too time-consuming and labor-intensive. Brizo’s market analytics platform provides comprehensive data-driven insights that allow restaurant tech firms to quickly assess the market and competitive landscape. The platform integrates existing datasets and in-depth menu data to provide market-specific insights. The platform also gathers data from more than 60,000 sources, including social media, search engines, forums, local directories, and more. This data allows restaurant and foodservice firms to track trends, assess customer preferences, and uncover key industry insights.
Conduct Analysis to Develop Strategies
Once the data is collected, restaurant technology providers must use the data to conduct analysis that will inform strategies. Data analytics can help firms identify customer preferences, uncover industry trends, gain competitive intelligence, and tailor marketing efforts. With Brizo’s market analytics platform, firms can quickly and easily discover industry trends and generate insights that are actionable.
The platform offers customized solutions that enable firms to track sentiment and activity across local and international markets, assess customer preferences, monitor brand reputation, and optimize marketing efforts. The platform also provides detailed insights that enable firms to assess the competitive landscape and implement strategies that will optimize revenue and develop competitive advantages.
Sales Prospecting and Prospecting Support
Using insights from the market analytics platform, restaurant technology providers can simplify their sales processes and more effectively target potential customers. The platform’s data-driven insights allow firms to quickly and easily identify customers, uncover industry trends, and streamline the sales process. The platform’s insights also provide a comprehensive understanding of customer preferences, allowing firms to develop more tailored sales pitches that are more likely to convert prospects into customers.
Find Kitchens and Expand Operations
Data analysis also provides insights into potential locations for new kitchens and outlets. With specific insights into broader consumer preferences and industry trends, restaurant technology firms can utilize the data to find the ideal location to expand operations or launch new products. The data-driven insights also provide the ability to tailor production innovation and strategic foray into different markets.
Data Enrichment
Once an effective market research strategy is in place, firms can use the data-driven insights for system enrichment. This data can help firms enhance their systems with more comprehensive market insights and make more informed decisions.
Lastly
Data-driven insights are essential for restaurants and foodservice technology providers who are looking to maximize their performance in today’s highly competitive landscape. Brizo’s market analytics platform provides comprehensive data-driven insights that allow firms to assess their competitive landscape, target leads, streamline their sales process, and find new kitchens and outlets. By leveraging this insight, firms can make more informed decisions and fully maximize their potential.