Location Intelligence brings a new outlook to the Food Technology Industry
With Location Intelligence, driven by data analysis, the FoodTech sector is redefining how it works on all levels, starting with the customer experience and extending to the ultimate vision of expansion.
A German poet, scientist, and critic once wrote that "the arts are the salt of the earth; as salt relates to food, the arts relate to technology." And there's no denying that the advent of future-driven technologies has enabled companies to deliver customised customer services efficiently and effectively, aligned with business goals.
The FoodTech industry is one such sector that uses technology to its fullest potential. In the fast-paced world, we live in today, you have unlimited options to order food online that are just a click away, no matter where you live. Think about what one might do if there were 7.9 billion people in the world; how could one set one's business apart from the crowd?
“Furthermore, according to a market forecast, the global food technology market size was 220.32 billion U.S. dollars in 2019. As a result of advancing technology within the food industry and the demand for healthier, affordable, accessible, and safer food products, the market is forecast to exceed 342 billion dollars by 2027*.”
The key challenges ahead
In light of the opportunities the industry holds, there are different reasons why a business may not be able to overcome its limitations to achieve customer satisfaction. As a result, the company may become a market leader. The challenges are:
How to deliver more - In order to deliver more, you need to consider factors such as food quality, delivery service, delivery partners, and understanding customers' tastes.
How to deliver faster - It is based on factors such as delivery time, restaurant distance, delivery riders available, traffic, and destination location.
How to deliver economical yet reliable - It is determined by factors such as discounts, offers, food outlet recommendations, ratings, and more.
Implementing a Location Intelligence solution
The FoodTech industry, large and small, established and start-up, is using data derived from Location Intelligence as part of their efforts to reach their customers in an improved way. Based on online food ordering patterns, behavior, demographics, preferences, experiences, and more, Location Intelligence helps businesses re-craft their strategies based on inside-out learning.
Let's take a look at a Burger King campaign. If a person is within a 500-meter radius of a McDonald's store. By using the Burger King App, you can get one of their burgers for a lower price. They were able to increase their sales, revenue, and a number of downloads. The location intelligence, therefore, helped the brand curate a marketing campaign that yielded results.
Location analytics can also be used by any food outlet to identify its partner restaurants, delivery riders, and mainly customer convenience. This includes menu optimization, easy delivery, nearby outlets, and inexpensive orders. This leads to hyper-local customised campaigns for superior customer experience.
In addition to that, single-chain restaurants like Starbucks use this intelligence to locate store opening spaces, personalise menus, and more.
Stay ahead with leading-edge advantages
Elevate customer experience- Helping customers track their orders, develop personalised communications for providing offers, discounts, recommending preferred outlets first, etc.
Enhance marketing operations- Spatial intelligence helps you increase customer base, improve market share, identify location performance. Coupled with data related to demographics, consumer behaviors, geo-filters from social media platforms to help innovate & promote exclusive campaigns, conduct customer segmentation etc.
Accelerate operational efficiency- Plan delivery models to offer solutions to pain points like traffic, resource availability, handling requirements, optimise delivery routes, on-time delivery, and more.
Spatial Distillery Co., your partner for growth and expansion.
We provide cloud-based, comprehensive, lightweight, fast and lightweight geospatial solutions that will help you expand your customer reach. Gaining customer insights, enhancing customer experience, boosting sales, providing ratings and reviews, and more.
Make every location count to give your clients an experience they'll never forget.
