{"id":17110,"date":"2024-11-21T20:38:27","date_gmt":"2024-11-21T20:38:27","guid":{"rendered":"https:\/\/brizodata.com\/?p=17110"},"modified":"2025-01-30T20:16:36","modified_gmt":"2025-01-30T20:16:36","slug":"sweet-success-how-restaurant-technology-vendors-can-identify-and-target-the-right-operators","status":"publish","type":"post","link":"https:\/\/brizodata.com\/en\/sweet-success-how-restaurant-technology-vendors-can-identify-and-target-the-right-operators\/","title":{"rendered":"Sweet success: how restaurant technology vendors can identify and target the right operators"},"content":{"rendered":"

Competition in the restaurant technology sector is reaching a boiling point. Since COVID, restaurants have been hammered with rising food costs and record inflation. In response, operators have been growing their tech stack to help optimize front- and back-of-house performance, control costs, and improve customer experiences.<\/p>\n

In fact, 76% of restaurant operators expect to increase their technology spending in 2024, according to the latest Restaurant Industry Report<\/a> by Houlihan Lokey<\/span>.<\/p>\n

From third-party delivery apps and sophisticated POS systems to loyalty programs and online reservation services, the number of tech services being adopted by restaurants is growing exponentially.<\/p>\n

And so is competition within the market. Where there were only a handful of players in this space a decade ago, today, the restaurant technology industry is stacked with hundreds of vendors hungry to get the biggest slice of the pie. The global restaurant management software market is projected to surge from $5.7 billion USD in 2023 to approximately $26.3 billion USD by 2032, with a robust Compound Annual Growth Rate (CAGR) of 16.5%, according to a market.us report<\/a> published earlier this year.<\/p>\n

A sales strategy to help restaurant tech vendors stand out<\/h2>\n

So, how do restaurant tech companies rise above the competition and dominate their category? How do they identify and target the prospects most likely to use their products? And how do they ensure their sales efforts are as efficient as possible to avoid wasting time and resources and missing potential opportunities?<\/p>\n

The old approach of sales prospecting for restaurant tech vendors just isn\u2019t efficient: manual research is far too time-consuming, while purchased data lists often only provide basic contact information and lack key insights to help inform strategic decision-making.<\/p>\n

Read our data decay blog post<\/a> to learn how stale CRM data might be bogging down your sales and marketing operations.<\/em><\/p><\/blockquote>\n

Having the right foodservice data, insights, and intelligence is key to streamlining your prospecting strategy and maximizing your sales growth for higher conversion rates.<\/p>\n

Here\u2019s how restaurant technology vendors can harness the power of insight-led data to identify and close more deals.<\/p>\n

Identifying growth goals and opportunities<\/h2>\n

Before diving into the data, it\u2019s important for restaurant tech vendors to clearly define their sales objectives. Whether it\u2019s expanding into new markets, scaling your business or increasing market share, defining your goals first will help you understand what data and insights you need to drive your decision-making.<\/p>\n

It\u2019s also important to determine whether you\u2019re targeting multiple new clients (which requires scalable tactics) or focusing on account-based marketing (ABM) (which relies more heavily on personalization). For many new res tech vendors, understanding their Total Addressable Market (TAM) and Ideal Customer Profile (ICP) is the first step in effectively planning their go-to-market strategy.<\/p>\n

Read our Opus case study<\/a> to learn how Brizo helps them visualize their addressable market and find tech-savvy, multi-unit prospects.<\/em><\/p><\/blockquote>\n

\"Brizo<\/p>\n

Track technologies already in use<\/h2>\n

Understanding what tech tools and platforms prospective clients are already using \u2013 like delivery marketplaces, online ordering systems, POS platforms, reservation systems and loyalty programs \u2013 is a critical part of effective prospecting.<\/p>\n

If a restaurant uses several advanced technologies to manage its operations, it indicates a certain level of technological sophistication. Tech-savvy establishments will be a stronger fit for your offering because they\u2019re more likely to quickly understand the benefit of what you’re selling compared to a more low-tech restaurant. On the flip side, knowing which establishments use little to no modern technology offers a chance to be the first to capture their business with a tailored, \u201cbeginner-friendly\u201d sales approach.<\/p>\n

If a restaurant uses a competitor’s product, this is the perfect opportunity to launch a targeted sales conquest campaign showcasing the unique benefits and advantages of switching to your product.<\/p>\n

If platform stacking is available (where a restaurant uses multiple competing services simultaneously, like listing on more than one third-party delivery app), you can target your pitch to focus on the benefits of platform diversification, including expanding reach, reducing risk and enhancing flexibility.<\/p>\n

Some providers also specialize in technology designed to unify multiple ordering systems into a single streamlined platform. For these companies, identifying establishments juggling multiple services makes it easier to target those that would benefit from integration.<\/p>\n

Read our DAVO case study<\/a> to explore how different technologies can be used as a clever proxy for elusive POS system data.<\/em><\/p><\/blockquote>\n

Consider non-tech factors<\/h2>\n

Tech stack isn\u2019t the only thing to consider when targeting potential foodservice clients. There are a number of other factors to look at, including:<\/p>\n