New Research Report from Fishbowl® and Coca-Cola® Details Industry Trends
ALEXANDRIA, VA. – A new research report released by the Winterberry Group proves that guest data is playing a critical role in the way the restaurant industry is responding to challenges like increased competition, declining guest loyalty, and measuring marketing effectiveness. More than 200 leading restaurant and hospitality brands participated in the research initiative co-sponsored by Fishbowl and The Coca-Cola Company.
“Actionable data insights continue to emerge as the real trade secret to success in almost every service-oriented market, and the restaurant industry is no exception,” said Dev Ganesan, Chief Executive Officer of Fishbowl. Fishbowl, the leading customer engagement platform provider, provides deep guest insights that enable restaurants to execute data-driven decisions and personalized marketing. “Being able to make informed, data-driven decisions and engage guests with a high degree of certainty and minimal amount of risk is an absolute must for our clients. This report underscores that requirement by demonstrating the results a data-driven approach delivers to brands that have made it an integral part of their businesses.”
Among the key findings in the report – which can be downloaded at http://bit.ly/winterberryreportdownload – is that an overwhelming 87.3% of marketers surveyed agreed with the notion that restaurant businesses stand to gain competitive advantages by initiating and maintaining strategies to support the collection and analysis of guest data.
The report also revealed that progressive marketers are collecting a broader array of data points that go beyond simple demographics and email addresses. Preferences, attitudes, lifestyles, buying patterns, and other guest behavior insights are informing the development of innovative engagement strategies and programs. Data on responsiveness to offers, redemption information, and mobile engagement are also increasingly relied upon to provide actual, real-time intelligence on the success of campaigns – and can offer even more value when aggregated by geographic market, date range, and individual store performance.
As one survey participant said, “Going into 2017, we are focused on being able to use customers’ preferences in order to deliver relevant content. We are aiming to understand our customers better to be able to deliver them something that will drive them to our website, and drive them to make a reservation. It can’t just be offers all the time anymore.”
Other marketing trends such as shifts in media budgets and allocations, mobile and app development, social media participation, and performance metrics are unveiled in the report, with notable changes to digital media approach being reported by more than half of respondents.
Jonathan Margulies, Managing Director of Winterberry Group, notes, “Data insights enable companies to be more nimble and adept in responding to challenges and changing trends and empower them to rise above competition. Understanding and embracing the shifts currently underway in the restaurant industry from the marketers’ perspective can have monumental impacts on the future of any brand.”