Johann Wolfgang von Goethe, a German poet, scientist and critique 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 the fact that the advent of future-driven technologies has empowered businesses to deliver specialized customer-centric services, efficiently and effectively, business vision aligned.
FoodTech is one such industry that is leaving no stone unturned to unleash the power of technology. Today, in a world where we live, no matter in which corner you reside, one has got unlimited options to order food online that are just a click away. Now imagine giving these choices to the world population of 7.9 billion people, how can one make one’s business stand out from the crowd.
Additionally, as per a report by Grand View Research the food delivery market is expected to grow at a CAGR* of 15.4% from 2019 to 2025. Furthermore, with key players available in the market and more players entering the scene with strategic presence and planning, food delivery business will only boom.
Now, considering the possibilities the industry holds, different reasons that restrict a business from outgrowing its capabilities to experience customer satisfaction and fulfilling its vision of becoming the market leader. The challenges are:
It consists of factors like food quality, delivery service, delivery partners, understanding customers’ taste and more.
It consists of factors like delivery time, restaurant distance, delivery riders available, traffic, destination location and more.
It consists of factors like discounts, offers, food outlet recommendations, ratings and more.
Food businesses from big and small, established and start-up are turning to the data derived from the technology that is the future for the FoodTech industry, Location Intelligence, in helping them reach their customers in an improved way. From customers’ online food ordering patterns, behaviors, demographics, to preferences, experiences, and more Location Intelligence is helping businesses re-craft their strategies through inside-out learning of the same.
For instance, let’s talk about a campaign executed by Burger King that used real-time geofencing. Wherein if a person is around a McDonald’s store within a range of 500mtr. and uses a Burger King App, you’ll be able to get one of their burgers at a lesser price. It helped them increase their sales, revenue expected, and number of app downloads. So, the location intelligence helped the brand curate a result-oriented marketing campaign.
Also, Zomato spend much efforts in learning product backend algorithms based on data science/AI like user personalization, location, pricing, product feature A/B experiments and more to drive commercial and operational efficiencies like driver fleet capacity, delivery time prediction, ad delivery, etc. Leading to hyper-local customized campaigns and other social activities for supreme customer experience and retention.
That’s not all, apart from Food Technology outlets, single chain restaurants like Starbucks are also making use of this intelligence for locating store opening spaces, personalizing menus, and more.
Helping customers track their orders, develop personalized communications for providing offers, discounts, recommending preferred outlets first, etc.
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.
Plan delivery models to offer solutions to pain points like traffic, resource availability, handling requirements, optimize delivery routes, on-time delivery, and more.
Strategize your customer reach and expansion with our cloud-based, comprehensive, light-weight and fast geospatial solutions. Helping you learn customer-insights, location rankings, enhance customer experience & user acquisition, boost sales, provide ratings/reviews and more.
So, switch to the art of location intelligence to give your customer an experience of a lifetime.