Sense360 Unveils Delivery IQ, a Comprehensive Solution for Understanding and Monitoring the Impact of Delivery Services on Restaurants
The holistic monitoring and measurement solution helps restaurants assess and optimize third party delivery strategies.
CULVER CITY, Calif., July 10, 2019 (Newswire.com) - Sense360, the next generation market research firm, today announced the launch of Delivery IQ, a comprehensive measurement and analytics solution helping restaurants understand the impact that third-party delivery services have on their businesses.
Third party delivery has quickly become a staple of consumer behavior and consumers’ relationships with restaurants are shifting towards delivery. Referring to the restaurants that third party delivery customers order delivery from, Sense360 reports that 36% more frequently buy from these restaurants through third party delivery than visiting in person.
For restaurants, this is simultaneously an opportunity and a challenge. Third party delivery is a new revenue opportunity but there isn’t clarity around whether this revenue is incremental or cannibalistic. In fact, Sense360 uncovered that 52% of third-party delivery occasions are replacing an in-person restaurant visit.
Historically, restaurants have had little visibility into the dynamics of each third party and the consumers using each platform, making it difficult for restaurants to choose the best partners, size the opportunity, and optimize their strategy. Delivery IQ delivers a smarter solution, providing restaurants with the visibility they’ve been missing.
Specifically, Delivery IQ combines behavioral purchase and foot traffic data with proprietary survey data into a comprehensive report and always-on dashboards, creating a comprehensive and real-time perspective into a growing segment of off-premise diners and the impact of third party delivery services.
“Leveraged correctly, third party delivery services can drive incremental revenue lift. Restaurants need — and deserve — clearer insight into the performance of these services and the impact on their businesses,” stated Eli Portnoy, CEO and Co-Founder at Sense360. “That’s why we developed Delivery IQ and are so thrilled to share its powerful, real-time monitoring and analysis capabilities with the market.”
To date, several major quick service and fast casual chains have enrolled in early access to the service, receiving an always-on view into third party delivery trends, consumer behavior, and consumer sentiment.
"Our guests crave delicious food delivered conveniently, and our team has been craving a more comprehensive view of third party delivery. We had been working with all available data but lacked the full market and competitive context. Delivery IQ has answered previously unanswerable questions — from understanding who our third party delivery customers are to quantifying the value of our delivery customers over time,” noted Keith Wagner, Senior Manager of Business Intelligence and Analytics at White Castle.
Industry leaders are also taking notice and using the data to sharpen their understanding of the space and better enable their partners.
"At Olo, we aim to help brands take better advantage of the digital shift that’s happening in the industry but we see first hand the lack of information that’s available to our partner restaurants to fully understand and capitalize on third party delivery. With Delivery IQ, Sense360 provides immediate answers to crucial third party delivery questions and tools for ongoing measurement so that restaurants can be empowered and make the most of this opportunity,” said Noah Glass, CEO and Founder at Olo.
Sense360 is hosting a webinar to share exclusive insights from Delivery IQ on Wednesday, July 31, 2019 at 1 p.m EDT. Businesses interested in learning more about Delivery IQ and its ability to help businesses make sense of the impact of third party delivery services are encouraged to sign up for the webinar here or contact DeliveryIQ@Sense360.com.
Sense360 is the leading next-generation market research firm, helping the largest restaurant and retail chains use data to make consistently great decisions. Sense360 combines over 100 million visits, over 100 million transactions, and close to one million surveys a year. This data powers a suite of solutions that help companies understand and quickly act on key opportunities.
Eli Portnoy, CEO, Sense360
Categories: Restaurants, Bars, and Catering