LOS ANGELES, March 20, 2018 (GLOBE NEWSWIRE) -- Sense360, the leading real-time data insights and consumer intelligence company, today released a new white paper delving into an increasingly hot topic in the restaurant and foodservice industries: data. With insights from industry experts including Noah Glass, Founder & CEO of Olo, and Tom Johnson, Director of Consumer Insights for Del Taco, the paper examines how restaurant operators can leverage behavioral and attitudinal data to grow their business and gain share in a saturated market.
“Today, a fraction of a percentage point in market share gained or lost can spell the difference between hitting targets and financial ruin,” said Eli Portnoy, CEO and Founder of Sense360. “Restaurants can no longer afford to be almost-right based on estimates and educated guesses. They need to precisely measure and continuously improve. Real-time, robust and accurate data is the key.”
Top Insights Include:
- Emergence of behavioral data empowers restaurants with a full view of the consumer. The explosion of smartphones, the proliferation of sensors in mobile devices, and the emergence of “always on” location tracking can provide restaurants with persistent and accurate behavioral data about the consumer journey. This helps operators obtain a clearer understanding of what, where, when, how and why consumers interact with restaurants, beyond traditional awareness and attitudinal measures.
- Instant customer insights. In addition to a robust view of consumer activity, the speed of behavioral and survey data collected from smartphones can prove a key factor in making faster decisions, which are so critical in today’s environment. For example, Maggie King, Consumer Insights Manager at Chipotle estimates that the company saved as many as two weeks and gained better quality insights by doing a survey through mobile channels after introducing a new product.
- Restaurants can use behavioral data to improve nearly every aspect of their businesses. Mr. Johnson has explored removing the guesswork of adding a new location where Del Taco already has others, a practice known as “infill.” By looking at behavior of the customer segments most likely to frequent their establishments, the chain hopes to predict whether buying the shuttered store of another chain could bear fruit rather than cannibalize their existing stores in the area.
“Data helps operators squeeze more value out of every dollar they spend,” Portnoy added. “Whether it is more efficient marketing, more effective promotions, or new menu items. Behavioral data helps restaurants get the most ROI out of all their activities.”
Click here to download the white paper.
Sense360 is a leading real-time consumer-intelligence firm that leverages cutting-edge mobile sensor technology and survey data from a panel of two million consumers. The Company is able to observe over 150 million consumer trips a month. By understanding the visits and journeys of millions of anonymous U.S. consumers in the real-world, Sense360 is able to provide its clients, representing nearly 20,000 locations across the U.S., with real-time intelligence to help grow, optimize, and manage their business. To learn more about Sense360, visit https://sense360.com.
Kate Ottavio Kent
ICR for Sense360
203-682-8276 / Kate.OttavioKent@icrinc.com