Consumer data is some of the most important information a business can collect. The restaurant industry is flooded with information and preferences, so it’s crucial that you cater to your specific audience.
As you refer to your restaurant business plan, consider the most recent data reports to adjust your strategy. Analytics reports can allow you to gauge anything from business hours to which menu types to prioritize.
To provide stellar customer service, a restaurant manager must know their clientele. With this said, continue reading to learn all you need to know about consumer data within the hospitality industry.
Consumer Data: Definition
Consumer data is the information people provide businesses after interacting with brands or making a purchase.
Such data can revolve around behavior to purchase history. For restaurants, data reports should consist of both types. Not only can it help a business owner understand their audience, but it can lead to more thoughtful strategies.
Consumer Analytics You Should Track
As a restaurant owner, there are numerous data metrics you should be tracking on a regular basis. The following are metrics that can guide your action plans and restaurant marketing strategies:
- Best-selling dishes
- Number of weekday orders
- Number of weekend orders
- Loyalty program members
- Restaurant event attendees
Learn more about restaurant marketing ideas to inspire upcoming plans after collecting data.
How Might A Company Use the Consumer Data It Collects?
If you’re not collecting consumer data, we highly recommend you do. If you already are, there is so much you can do with it.
Without further ado, here are ten strategies to boost restaurant sales with a little help from your consumer data analyses.
1. Prioritize Best-Selling Meals
Consumer data from a restaurant POS platform can indicate which dishes are best-sellers. Whether it’s a simple choice from the appetizer list or the obvious entree food, knowing this information can elevate your business.
2. Create the Perfect Loyalty Program
The purpose of a restaurant loyalty program is all about incentivizing people to return. So, use consumer data to your advantage.
Are there drink specials that customers seem to love? What about birthday perks that attract large parties? Analyze your data to discover fan favorites to map out your rewards program.
If you’re willing to offer perks and discounts, ensure that customers will be excited about them. Plus, doing so will keep you in the conversation.
3. Onboard Useful Technology
If your consumer data reports don’t delve into these matters, try conducting surveys. There are many free survey builders online, which are great for receiving feedback.
4. Readjust Hours of Operation
Consumer data reports should show the most frequent times people dine at your restaurant. If you realize you’re operating at slow times, change the schedule.
Once you analyze the data, you might realize that customers frequent your restaurant later in the evening. If so, consider offering 24 7 food delivery.
Your target audience will have a greater impact on when you should operate. Plus, using this insight accordingly will let you maximize the restaurant profit margin.
5. Re-evaluate Marketing Efforts
Marketing efforts should change as the target audience expands. As the brand evolves, your business might begin to attract various types of people.
Have you ever noticed there’s a younger crowd visiting your eatery once the school year ends? What about changes you’ve seen since your city began building more facilities? Economic and housing changes will impact your numbers, which in turn will affect your marketing results.
6. Choose the Right Theme
Consumer behavior and interests can influence many standard restaurant marketing tips. In fact, they can often lead you to stand out within a vast market.
Ever consider converting your restaurant into the go-to brunch spot (see what is brunch food)? Or, have you thought about remodeling the inside to accommodate opening a sports bar? The ideas are endless, but you need the proper insight to make such decisions.
Pursuing a theme is a lucrative way to boost a business. Themes give clear ideas for restaurant promotions while creating a memorable customer experience.
7. Focus On Delivery Orders
Are your analytics showing you that most orders come in via delivery apps? If so, it might be time to prioritize mobile food ordering services.
If you already operate a quick service restaurant and want to cut overhead expenses, you might also want to consider opening a ghost kitchen or virtual brand. Both models are convenient, lucrative, and cost-effective.
The best part about ghost kitchens and virtual brands? They thrive by only offering delivery services. Learn about the differences between virtual brands vs. ghost kitchens before making a decision.
8. Open A New Location
As your business grows, it might make sense to open a new brick and mortar eatery. But then there’s the question of where should the new location be?
With consumer data, you can zero in on where most of your customers reside. Such insight can allow you to choose a facility you know will generate enough traffic.
Want the best of both worlds? Choose a location amid your target audience and existing business. This way, there’ll be a sense of balance. More importantly, you won’t deter traffic from your original location.
9. Invest In Paid Advertising
Paid ads are vital in growing your business. However, it’s necessary to map out a target audience beforehand.
Consumer data can tell you which traits and behavior to target when building an ad. Do you want to target a particular age group? What about customers within a specific mile radius? Such information can come from consumer data reports.
The last thing you want to do is invest in ads that don’t target a specific group. So, analyze the numbers first.
10. Host Restaurant Events
Restaurant events are fun ways to gather the community. They also boost awareness and drive traffic to your restaurant.
Consumer data can showcase purchasing habits, which entails event-specific metrics. Plus, it can also provide insight into customer interests.
If you find that frequent customers gravitate towards live music, this might signal which events to host. Or, you might determine that consumers in your town frequently engage in sporting events. No matter what it is, you want to host outings that potential customers will look forward to.
Frequently Asked Questions About Consumer Data
Data can become a very extensive topic of expertise. Learning how restaurants can utilize it is just the tip of the iceberg. Continue reading to discover other uses of data, examples, and more.
What’s An Example Of Consumer Data?
An example of quantitative consumer data would be the number of times people dine at your restaurant. An example of qualitative consumer data would be the reviews they leave about your business.
In both examples, the data is beneficial for enhancing your business. Each type of data serves its purpose, so it’s up to the marketing team to implement it accordingly.
What Are the Types Of Consumer Data?
There are multiple types of consumer data. The four main types of data are as follows:
- Identity Data: The basic information about customers that determines who they are. Such information includes names, addresses, phone numbers, and so on.
- Engagement Data: The information that showcases how customers engage with the brand across various channels, such as apps, social media, and websites.
- Behavioral Data: This kind of data will provide insight into how customers behave with products and services on a granular level.
- Attitudinal Data: The data that pertains to feelings, motivations, and opinions about a brand, product, or service.
What Are the Components Of Consumer Data?
Consumer data consists of a plethora of information such as demographics, psychographics, and purchasing habits.
All of these data components should be taken into consideration when making business decisions. Each of them is reflective of various parts of the sales funnel and consumer behavior.
The Numbers Don’t Lie
One of the greatest perks of analyzing consumer data is its accuracy. That’s if you store it in an up-to-date database, of course. It’ll allow business owners to confidently make decisions, leading to tangible and measurable results.