You might be in the throes of a pizza franchise business, but lack the full steam ahead to make it go viral or wholly successful. What’s the engine powering up most businesses today? It’s the data from your restaurants and leads that you can use to make a promising business even more spectacular in reaching its target market.
Analytics has been revolutionizing the restaurant industry with the use of machine learning algorithms and big data. Fast-food giant McDonald’s, for example, is known for recently improving their customer experience with the use of business analytics of their massive dataset from their chain of restaurants. Want to do the same? Here are some ways you can use analytics in your franchise:
Surveys for Customer Feedback and New Products
Surveys are valuable in picking the brain of your customer. Simply make sure you keep those surveys short so that customers will actually finish filling them out and provide the valuable information you need to scale up your business. You can also use the analytics of your website to test out new product reception to your target market.
Evaluating and Improving Operations
Is your customer having issues with the time it takes to go through the drive-thru section? Are you having some serious customer service issues when it comes to taking and receiving orders? You will not know unless you dig deep in the data. You can use the insights to improve your business operations.\
Testing or Experimenting on Marketing Campaigns
If you have a particular promotion that’s untested, the digital platform is the best place to check it out. You can analyze results fast for as long as the trackers are in place. You can test or experiment on marketing campaigns and have them all year round when you have the analytics trackers on the website to help listen in and get the necessary data.
Analyzing Store Locations
Looking at multiple store locations provide a new depth to your analysis. Understanding the demographics of people in different store regions will help you refine if your product offers even more. Your service can improve and you can also predict the demand in a certain place based on what’s already out there and what’s working per location.
Profiling Buyer Behavior
There is a data ethics debate or discussion in marketing circles on this, but it remains as one of the most powerful applications of analytics on a restaurant franchise setting. You can profile the demographics of your most avid fans and get to invite or win more of them over.
Do your menu items need rebranding or a total overhaul? Let the data tell you that. You can check out transaction data and cross-check them with other variables like time of day, holiday schedules, and location. Menu optimization has never been more fun and nerdy than at data-driven times like these.
More than hosting a large storage space for restaurant data, the data itself has to make sense and make cents for you as a business owner. Store data that has inherent value. The practice of infonomics is an industry that ascribes the measurement of values of certain pieces of information and can be to your benefit.