How to Market Food Products in 2023
Inside B2B F&B Competition: Industry Leaders Clash for Dominance. Uncover Secrets to Thriving - Customization, Innovation, and Strategic Pricing.
The food and beverage industry is a highly competitive one, and the competition for B2B customers is no exception. Companies like Unilever, Coca-Cola, and Nestle are all vying for the attention of restaurants, cafes, and hotels.
There are a number of reasons why the competition for B2B customers is so tough. First, the food and beverage industry is constantly evolving. New products are being introduced all the time, and customers are always looking for new and innovative ways to serve their customers. This means that food and beverage companies need to be constantly innovating in order to stay ahead of the competition.
Second, the B2B market is fragmented. There are a large number of restaurants, cafes, and hotels, and each one has its own unique needs. This makes it difficult for food and beverage companies to create a one-size-fits-all solution. They need to be able to customize their products and services to meet the specific needs of each customer.
Third, the B2B market is price-sensitive. Restaurants, cafes, and hotels are always looking for ways to save money. This means that food and beverage companies need to be competitive in price in order to win business.
In order to succeed in the B2B market, food and beverage companies need to be able to do the following:
The competition for B2B customers in the food and beverage industry is tough, but it is also an opportunity for companies that are willing to innovate and customize their products and services. By doing so, food and beverage companies can win the business of restaurants, cafes, and hotels and grow their businesses.
Location intelligence platforms collect and analyze data about the location of people, assets, and events. This data can be used to improve decision-making, efficiency, and customer experience. Location intelligence platforms are used by a variety of businesses, including retailers, logistics companies, telecommunications companies, and governments.
If you are looking for a way to improve your business's decision-making, efficiency, and customer experience, then a location intelligence platform is a valuable tool to consider.
Here are some of the benefits of using a location intelligence platform:
As location intelligence platforms capture data from multiple platforms, one such dataset could be top cuisine types by different regions of UAE. A crafty digital marketer can use this data to better understand the flavors and taste preferences of a consumer living in different parts of the country and the kind of restaurant they go to. This in turn can help foods and beverages companies market relevant products in that area.
For example, if I see an area in Dubai where there is a high preference for Italian cuisine, then I would want to target that area with different types of cheese that my food company sells. Or If I see a location that has a preference for burgers, I can market ketchup, mayonnaise, and cheese there.
Suppose you are launching a super premium brand that only the upper class can afford. You’d want really highly polished and skilled sales team to target a highly specialized audience. How about sending your team and/or brand ambassadors to run at high-end luxury hotels in UAE?
Location intelligence platforms should have data on hotels in the UAE and also have information on how many stars it has. You can apply a filter for 4 and 5-star hotels, get their location data and run geo-targeted ads for those locations only.
For the purpose of this exercise, let’s assume we are Fantastic Spreads and Condiments (FSC), a food company with a huge portfolio of brands selling ketchup, mayonnaise, mustard, thousand island sauce, and so many more.
Having such a diverse portfolio is both a blessing and a curse.
The pros are obvious, you have something for every type of customer, however each additional brand carries an overhead in production and marketing. Let’s assume FSC operates in the UAE, and is working in the HORECA (Hotels, Restaurants, Cafes) space. A location intelligence platform should capture data for hundreds if not thousands of restaurants and cafes.
For each point you see on the map above, there are dozens of attributes and details including price points, traffic, ratings and pricing information. All of this can be used to create segments. Now let’s create a few segments.
1) Expensive high traffic restaurants.
Suppose you are launching or marketing a super premium product - imagine mayonnaise infused with gold flakes. What restaurants would you target? You’d want to hit very expensive restaurants that have high foot traffic.
This is what your selection looks like.
2) Cheap high-traffic restaurants.
Now, suppose you are launching something that is mass market. Imagine cheap ketchup. You want to target restaurants that are cheap and have high traffic, and high ratings. This is what that looks like
3) Brands or chains that are brunch places.
Now let’s do something a little complex, suppose you want to market a product to brands or chains that are brunch places. This too is achievable with location intelligence platforms, where you a data scientist can analyze textual data to see if a restaurant is part of a chain or not.
We’ve only shown you three out of dozens of possible combinations. Once these segments are in place, the next step is to do targeted promotions based on these segments.
With a detailed database of restaurants, marketing teams can run targeted promotions based on location, cuisine, or other factors. This enables efficient use of resources and ensures that promotions reach the right audience.
Targeted promotions are more likely to hit their mark.
Here are a few examples of targeted promotions you can create based on the segments we have created above.
When promotions are targeted, they are more likely to be seen and acted upon by the people who are most likely to be interested in them. This can lead to increased sales, leads, and customer satisfaction.
Another critical activity that marketers often plan is figuring out where a below-the-line marketing activity will take place.
Below-the-line marketing (BTL) is a type of marketing that focuses on direct, personal contact with consumers. On-ground sampling through brand ambassadors is the best form of BTL marketing because it is targeted, personal, and cost-effective.
For the sake of this use case, let’s assume we are Exceptional Cola (EC), a leading global cold beverage brand that produces economical cold drinks for the masses. EC is launching in the UAE and as a part of their launch, they would want to do on-the-ground sampling of their drink to consumers.
Location intelligence platforms collect data on foot-traffic for various locations in different cities, you can use this data to figure out where your brand ambassador should go and carry out sampling to ensure maximum return on your investment.
xMap.ai is a location intelligence platform that provides businesses with insights into the location of their customers, competitors, and other businesses. The platform uses a variety of data sources, including public data, proprietary data, and machine learning algorithms, to provide businesses with a comprehensive view of their location landscape.
All of the data you see above, the fancy maps and data points, are sourced from xMap data sets and built on xMap studio. We're sure a few light bulbs would be lighting up in your head right now on how you can use this data to supercharge your marketing strategy. If this is you then click the button below to schedule a trial and free demo of xMap.
Whatever your goal or project size, we will handle it.
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"We focus on delivering quality data tailored to businesses needs in the middle east. Whether you are a restaurant, a hotel, or even a gym, you can empower your operations' decisions with geo-data.”
