The client: Food service company
Area of engagement: Marketing analytics/services/marketing-analytics
Typically, the food service industry comprises of food chains and restaurants that aim at increasing their customer base by offering low-cost options. The food service sector is significantly affected by altering economic volatility, market dynamism, and consumer preferences. Therefore, leading companies within the industry space are exploring ways to meet the relentless demands of their customers and improve the expectations. However, several factors are influencing the growth of the food service industry. These factors include:/services/marketing-analytics
- Supply chain management: The food services industry mainly relies on the supply chain to reach out to the markets and meet the relentless demands of the target customers. With the slow recovery of the economy, the supply of goods and commodities are likely to get affected, and consumers are expected to witness a decline in the supply of products across the food service
- Inflation: Countries across the globe are witnessing fluctuations in product prices due to the recent economic instability. Additionally, shopping patterns of the customers have been disrupted owing to the recent collapse in the prices of the supplies due to Brexit issues.
As a result, leading foodservice firms are leveraging marketing analytics solutions to meet the growing demand for quality products and target niche market segments. Marketing analytics helps companies in the foodservice space improve their marketing initiatives, devise strategies, and boost profitability across business units. Such analytics solutions also help companies enhance ROI and marketing attribution rates.
The Business Challenge
According to a recent survey, it is estimated that less than 1% of the sales across the food service industry occur online.
The client, a leading food service firm, wanted to gain insights into the customer preferences and perception about new products. The client also wanted to measure, manage, and analyze the marketing performance to enhance market efficiency and ROI. To stay ahead of the competition, the client wanted to predict outcomes and allocate resources to meet the business requirements.
With the help of marketing analytics, the food service firm wanted to seek ways to monitor marketing campaigns, understand the overall sales performance, and monitor the impact of trends on the growth prospects of the industry.
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The Solution and the Business Impact
Strategies that we recommended based on our analysis to improve customer engagement and drive sales.
With the help of Quantzig’s marketing analytics solution, the foodservice client was able to determine the actual ROI of their activities in terms of social media and email marketing success. This helped them measure and optimize marketing activities and streamline their efforts to improve sales performance. The client also wanted to re-prioritize their brand offerings and launch new products in niche market segments to reinforce their presence in the foodservice industry. Furthermore, they were able to diagnose deficits in their specific channels and accordingly adjust strategies to enhance their overall yield.
Marketing Analytics Predictive Insights
With the relentless growth of technology, food service establishments can make use of marketing analytics to enhance their business performance. Leading firms can leverage data to understand customer behavior across multiple locations better and make better use of their resources as the future of marketing analytics is shifting toward a more customer-driven outlook through technology-driven platforms.