Foodservice companies have moved to the forefront in the age of analytics, as they seek to gain competitive advantages by leveraging data-driven insights. Whether they’re selling to restaurants, manufacturing a new product, expanding their operations, or optimizing their campaigns, data-driven insights from a restaurant market intelligence system can give companies the edge they need to succeed.
An effective restaurant market intelligence platform gives companies the deep and diverse data they need for comprehensive market understanding and analysis. With in-depth and up-to-date menu data, restaurant tech coverage, and other unique data fields specific to the food service industry, businesses can use restaurant market intelligence to accelerate their sales cycles, enhance their systems with more comprehensive market insights, optimize their campaigns, and uncover competitors’ market strategies.
Sales Intelligence
Most companies that sell to restaurants understand the importance of sales intelligence. With restaurant market intelligence, companies can streamline their sales cycles and increase lead acquisition and qualification. Restaurants need more information than ever before when considering vendors, and an effective restaurant market intelligence platform can provide up-to-date market insights that help them make an informed decision.
For example, Brizo’s restaurant market intelligence platform provides customers with powerful lead segmentation capabilities, a detailed understanding of their target prospects, and a range of lead scoring models. With these powerful features, companies can quickly identify and prioritize the right prospects for their business.
Competitive Intelligence
Competitive intelligence helps companies answer questions about their competitors’ strategies and gives them the insights they need to make informed decisions. Restaurant market intelligence gives companies the ability to identify trends in the foodservice market and uncover their competitors’ competitive strategies.
For example, a well-informed restaurant would be able to spot sales performance trends by menu segment, identify unique market opportunities, and respond quickly to competitive threats. With competitive intelligence, companies can also understand market growth opportunities and gauge their ability to tap into the market.
Marketing Insights
Optimizing campaigns and successfully targeting prospects are key to business success. With a restaurant market intelligence platform, companies can gain an in-depth understanding of their prospects and Fulcrum CRM data can be used to profile prospects to determine which marketing strategies are most effective.
For instance, using data enrichment capabilities from an intelligence platform can provide businesses with detailed menu data, restaurant tech coverage, and unique data fields specific to the food service industry. This allows companies to target their campaigns far more accurately and in far less time.
Finding Kitchens and Expansion
Foodservice market intelligence can also be a vital tool for companies that are looking to expand their operations. Companies can use restaurant market insights to gain insights into consumer trends, locate and assess potential kitchen locations, and determine what equipment they need to be competitive.
For example, restaurant market insights can provide high-level overviews of potential markets – including how they fit within the wider industry and the competitive landscape – that aid strategic decision-making in expanding businesses. Furthermore, it can help companies conduct in-depth research on prospects and develop customer segmentation analyses that help them understand how their products fit with the larger market.
The Benefits of Restaurant Market Intelligence
The true value of restaurant market intelligence lies in the data it provides – an invaluable technology that gives foodservice companies an edge over their competition. With an intelligent platform, like Brizo, companies can make smarter and faster decisions, spot threats before they arise, and maximize their operational efficiency.
Ultimately, an effective restaurant market intelligence platform can give foodservice companies the insights and capabilities they need to remain competitive and expand their operations. In the data-driven age, companies that embrace market intelligence can find success faster, and with less effort.
