With the year 2020 signaling a need for rapid adaptation, restaurants around the world must now prepare for the continued trends, changes, and innovations of the foodservice market in 2023. These analytics and the corresponding insights derived from the data within the restaurant industry must be interpreted to stay ahead of the curve. For restaurant technology providers, harnessing the power of data-driven insights such as menu data, restaurant tech coverage, sales prospecting, competitive intelligence, marketing intelligence, and data enrichment is key to maintaining success. Here at Brizo, we have compiled the following findings to advise on foodservice market trends in 2023 that will be integral to success in the hospitality world.
Sales Prospecting
Sales prospecting is the process of identifying, researching, and contacting potential customers in order to develop new business opportunities. Technology solution providers will often rely on world-class data insights from foodservice market intelligence platforms such as Brizo to assist in this process. The data collected from these platforms serves as an invaluable aide in streamlining research and acquiring leads quickly. Such data can be used to compare competitors within the foodservice market, allowing providers to efficiently identify customer trends and preferences to target and differentiate their offerings.
Marketing Intelligence
Utilizing modern data science and marketing technology such as artificial intelligence and big data analytics, restaurant technology providers have access to market insights that are essential for optimizing sales campaigns. Through data-led insights and analytics, providers can determine accurate customer information, tailor communications to meet customer needs with confidence, and measure the effectiveness of their campaigns. Most importantly, leveraging advanced marketing technology allows for targeting opportunities that have yet to be explored.
Find Kitchens & Expand Operations
Producing high-quality food at a large scale is a monumental challenge for any restaurant. Streamlining production innovation is key to scalability and ensuring an efficient kitchen infrastructure is critical in this regard. Using market intelligence platforms, restaurant technology providers can access comprehensive data on the foodservice market to identify kitchen embed opportunities and expand operations strategically. Additionally, as the restaurant industry shifts towards a more adaptable, eco-friendly approach, understanding the analytics behind the industry is imperative to remaining profitable and creating customer appeal.
Data Enrichment
Data enrichment plays a major role in ensuring the accuracy of the insights derived from foodservice market intelligence platforms. By enriching the data with attributes specific to the foodservice industry, providers can develop increased confidence in the decisions they make for their businesses. In providing source data with descriptors, refiners can get more specific and detailed information to accurately analyze their target market, understand consumer behavior, and capitalize on untapped opportunities.
Key point
As the restaurant industry continues to advance and evolves to meet customer tastes and demands of the future, restaurant technology providers must keep up with the trends and investments of 2023. Computable insights from data-driven platforms such as Brizo serve as a timeless asset to understand the ever-changing foodservice market. From sales prospecting to competitor intelligence, operations to marketing, and data enrichment, harness the power of data science and equip your business with the necessary resources to successfully navigate the industry.
