Big data is bringing a huge advantage to the restaurant industry. Many of them can utilize the power of it and tailor their offerings to their customers' preferences and tastes. The question is how is big data helping?
It helps with marketing. Restaurants can now spend less and receive more in return by tracking purchasing behavior. They can determine what is working and what is not during certain marketing events. A couple ways that will help a restaurant begin to create a successful marketing strategy are below.
Customer Acquisition:
Demographic data is obviously a huge place to start. Combine social media behavior and customer feedback you begin to see a clearer picture of who your customers are. Once you start understanding the customer you can create marketing campaigns that are more effective and meaningful. Then you can acquire more customers to your restaurant.
Customer Segmentation:
Big data allows restaurants determine a segmented customer base. You can define specific demographics information, customer location and purchase patterns. The more narrow you are with the information the closer you are to creating more precise promotions and other offers.
Restaurants use big data in several other ways to instead of marketing aspect.
Inventory Management:
Watching buying trends and demographic data restaurants can predict what menu items will or will not sell and then will be able to stock inventory based on those trends.
Staff scheduling:
There are different rush hours for each restaurant. Watching sales data you can predict when additional staff is needed.
Sources:
1. Food Traffic: Using IT and Big Data to Increase Sales. (2018, March 30). Retrieved from https://skinnyit.com/food-traffic-using-it-and-big-data-to-increase-sales/
2. McCormick, J. (2016, July 13). How to Use Big Data to Build a Restaurant Marketing Strategy. Retrieved from https://pos.toasttab.com/blog/use-big-data-to-build-a-restaurant-marketing-strategy
It helps with marketing. Restaurants can now spend less and receive more in return by tracking purchasing behavior. They can determine what is working and what is not during certain marketing events. A couple ways that will help a restaurant begin to create a successful marketing strategy are below.
Customer Acquisition:
Demographic data is obviously a huge place to start. Combine social media behavior and customer feedback you begin to see a clearer picture of who your customers are. Once you start understanding the customer you can create marketing campaigns that are more effective and meaningful. Then you can acquire more customers to your restaurant.
Customer Segmentation:
Big data allows restaurants determine a segmented customer base. You can define specific demographics information, customer location and purchase patterns. The more narrow you are with the information the closer you are to creating more precise promotions and other offers.
Restaurants use big data in several other ways to instead of marketing aspect.
Inventory Management:
Watching buying trends and demographic data restaurants can predict what menu items will or will not sell and then will be able to stock inventory based on those trends.
Staff scheduling:
There are different rush hours for each restaurant. Watching sales data you can predict when additional staff is needed.
Sources:
1. Food Traffic: Using IT and Big Data to Increase Sales. (2018, March 30). Retrieved from https://skinnyit.com/food-traffic-using-it-and-big-data-to-increase-sales/
2. McCormick, J. (2016, July 13). How to Use Big Data to Build a Restaurant Marketing Strategy. Retrieved from https://pos.toasttab.com/blog/use-big-data-to-build-a-restaurant-marketing-strategy
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