HAVI, a global company innovating, optimizing and managing supply chains of leading brands in foodservice, has launched the first Prescriptive Marketing Platform built specifically for the restaurant industry that incorporates real-time analytics to help marketers more effectively plan their campaigns. The new Prescriptive Marketing Platform delivers actionable insight into restaurants’ promotional process with proven machine learning analytics to prescribe and optimize marketing activities.
Limited Time Offers (LTOs) are popular among restaurants because they typically drive sales, re-engage customers and allow brands to test new menu items. Major chains collectively launch nearly 6,000 LTOs each year (source: Datassential). The challenge for restaurant CMOs and marketing teams is that they do not have an easy, effective way to predict success or measure ROI of their LTOs, events and promotions. The tools currently available to foodservice marketers force them to take a reactive, qualitative approach to developing and managing marketing campaigns.
As competition increases in the restaurant industry, it is crucial that marketers know what has worked, what is working and what will work in the future. HAVI’s new Prescriptive Marketing Platform lets marketers:
- Forecast sales, profit and guest count impacts of their planned LTOs and promotions
- Simulate performance of a new promotion up to 18 months in advance
- Track ongoing promotions and know in real time when to make adjustments
- Get recommendations for new LTOs and promotions that will deliver optimal results
- Have visibility into the supply chain at a granular level – by menu item and restaurant
“Too often, marketing teams at QSR and fast casual restaurants base decisions about their marketing campaigns on instinct instead of analytics because the data is not readily available to effectively inform their strategies,” says Kristin Kranias, senior vice president, analytics solutions, HAVI. “HAVI’s Prescriptive Marketing Platform takes the guesswork out of planning LTOs and promotions so restaurant marketers can plan their annual and short-term marketing calendars with confidence and optimize the success of their campaigns.”
HAVI’s new Prescriptive Marketing Platform combines a cloud-based platform, marketing and point-of-sale data, machine learning infrastructure and HAVI’s 40-year history of analyzing and forecasting foodservice-specific data.
“HAVI has been the foodservice supply chain leader for more than 40 years, and now we’re bringing our advanced analytics capabilities to marketing campaigns in a way that more seamlessly connects supply to demand and optimizes marketing ROI,” says Kranias.
Marketers using the new platform can enter data such as menu items and tactics to forecast sales and simulate LTO and promotion performance. The tool also recommends optimal LTOs and promotions to fill gaps in marketing calendars to meet sales goals. Data can be analyzed nationally, and at the regional and local restaurant level.