The Ultimate Cook-off: Climb the rankings and surpass the competition!

The Ultimate Cook-off: Climb the rankings and surpass the competition!

In our latest blog, How does Big Data Affect the F&B Industry?, we explored the positive impact of big data in the food and beverage industry. Data-centric solutions allow both independent restaurants and large chains to evaluate their performance, understand customers, track competitors and analyze the market. Moreover, big data is the optimal business tool to help restaurants climb the rankings on the most popular channels.

 

Restaurants that boost their Yelp rating by one star can increase revenues by 5% to 9% (Harvard Business School)

 

Customer reviews and online rankings have become a currency for businesses. In fact, 90% of consumers reveal that online reviews influence their purchase decisions (Zendesk). A recent BrightLocal survey uncovered the following:

  • 97% of consumers claimed to read online reviews for local businesses
  • 85% of consumers trust online reviews as much as personal recommendations
  • Positive reviews make 73% of consumers trust a local business more
  • 49% of consumers need at least a four-star rating before they choose to use a business

Ratings and rankings allow consumers to compare which businesses are the most prestigious, highly valued and perceived. Perhaps two restaurants sell pizzas for the same price, but a higher ranking may be given to the pizzeria with the friendlier staff, faster queue time or with the cleaner bathroom. These attributes are a business’s competitive advantage. By knowing your competitive advantage, restaurant managers can leverage their strengths to overcome the competition.

 

Stirred or Shaken: The future of the F&B industry

 

U.S. restaurant chain giant, Applebee’s, is at the forefront of employing future innovations related to guest reviews and big data by implementing electronic tabletop devices throughout their restaurants. This technology is aiding their brand evolution and improving the customer experience. The implementation of tabletop devices has resulted in feedback from over 5.7 million customers (Michigan State University). The result? A 7% improvement in overall guest satisfaction.

“By leveraging data-driven insights, Applebee’s has been able to cut through the (mis)perceptions and stereotypes to aggregate customer demographic data, revealing that generationally, Applebee’s diners are pretty evenly split: 26.4% Baby Boomers, 28.3% Generation X, and 29.9% Millennial. When Generation Z guests are considered, 45% of Applebee’s guests are 34 or younger”

 

Reviews, ratings and rankings: your recipe for success!

 

Employing a review and customer feedback solution enables business owners to uncover what customers really think. With these insights, you can take action and design your strategies accordingly to increase customer sentiment, improve your reputation and climb the rankings!

Having the ability to read, respond to and analyze reviews and social posts is invaluable for a business to strategize effectively and maximize performance.

 

Take control of your restaurant's reputation and climb the rankings today!

 

Download our latest eBook, Taking a Bite out of Big Data: The Future of the Food & Beverage Industry to learn the latest tricks to climb the rankings and surpass the competition!

 

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