How Data and Analytics are Strategically Growing Restaurant Brands
"Data and analytics are essential to strategically growing restaurant brands," says Jason Himber, CEO of MINA Group. "By using data to understand our customers, our operations, and our market, we can make better decisions that lead to increased sales, improved customer satisfaction, and brand growth."
Here are a few specific ways that data and analytics are being used to strategically grow restaurant brands:
Identifying customer demand: Data can be used to track customer behavior, such as what dishes they order, how often they visit, and what time of day they typically dine. This information can be used to identify what dishes are popular, what dishes are not, and what dishes customers are willing to pay for. This information can then be used to create menus that are more appealing to customers and that generate more sales.
Targeting marketing campaigns: Data can be used to track customer demographics, interests, and online activity. This information can be used to target marketing campaigns more effectively and get more bang for the buck. For example, if a restaurant knows that its target audience is mostly young professionals, it can target its marketing campaigns on social media platforms that are popular with that demographic.
Optimizing staffing levels: Data can be used to track customer traffic patterns. This information can be used to optimize staffing levels to ensure that there are enough staff on hand to meet demand without overstaffing or understaffing. This can help to save money and improve customer service.
Improving operations: Data can be used to track inventory levels, food costs, and waste. This information can be used to identify areas where operations can be improved and save money. For example, if a restaurant knows that it is wasting a lot of food, it can take steps to reduce waste, such as offering smaller portions or donating unused food to charity.
If you are a restaurant operator, here are a few tips for using data and analytics to grow your brand:
Start with a clear understanding of your goals: What do you want to achieve by using data and analytics? Do you want to increase sales, improve customer satisfaction, or expand into new markets? Once you know your goals, you can start to collect and analyze the data that is most relevant to achieving them.
Use the right tools: There are a number of great data analytics tools available on the market. Choose a tool that is easy to use and that can help you get the most out of your data.
Get buy-in from your team: Data and analytics are most effective when everyone in the organization is on board. Make sure that your team understands the importance of data and that they are willing to use it to make decisions.
Be patient: It takes time to build a culture of data-driven decision-making. Don't expect to see results overnight. Be patient and persistent, and you will eventually see the benefits of using data to grow your brand.