Too Good To Go: Understanding the market to inform data-driven strategy for an expanding business

Too Good To Go is a company working to fight food waste. They partner with food businesses across sectors, including restaurants, bakeries and convenience stores, to offer surplus food at a fraction of the price. Users of the Too Good To Go app can scroll through local businesses and reserve a ‘Magic Bag’ filled with fresh food for collection.

Since their launch in 2016, the company has grown significantly; in the UK alone, they now have over seven million users and partner with over 19,000 businesses. After Too Good To Go’s UK presence soared, they needed to adapt existing sales and marketing strategies to continue to grow. Too Good To Go partnered with LDC to better understand their market impact thus far and identify the next opportunities.

IDENTIFYING OPPORTUNITIES AND ALLOCATING RESOURCES

In previous years, Too Good To Go was focused simply on making the biggest impact they could in a new market full of opportunities. Sales and marketing targets were informed by past performance, but once the app had seen exponential growth in both its user base and its partnerships, they needed a more focused approach.

LDC provided bespoke market sizing and penetration analysis, using a variety of factors such as town size, demographics and competitor presence to calculate an overall score for each area and rank locations by suitability. LDC’s Insights team analysed Too Good To Go’s current list of partners to ascertain levels of penetration across territories and food retail subcategories to understand how much of an area they currently cover, and where the largest opportunities remain. We worked with the team to tailor our analysis to Too Good To Go’s specifications to offer relevant, immediately actionable insight.

INSTANTLY IMPLEMENTABLE BENEFITS

• The Marketing team wanted to decrease cost per lead on their social media marketing campaigns. Access to our SaaS-based insights platform, Local Data Online, gave Too Good To Go the ability to map out the range and nature of opportunities in each region. With this information, they could tailor ad creative to local audiences, making their advertising efforts more powerful and cost-effective.
  
  
• The company’s sales representatives work according to territories. Access to market sizing and penetration data allowed the team to understand how to split their attention across locations, allowing for efficient and effective allocation of time and resource. Access to Local Data Online provides the Sales team with the locations and contact details of potential business partners, allowing them to create targeted lists that can be exported and used for planning outbound sales activity.
  
  

DECREASING THE COST OF GROWTH

Market sizing and penetration data allows Too Good To Go to understand where to focus sales and marketing efforts, and how to split their attention according to the market in a particular region. Access to our online insights platform allows the Sales and Marketing teams to configure inbound and outbound approaches tailored to the current market.

Our data has become a key resource for Too Good To Go, forming the core of new targeted approaches that decrease the cost of growth and provide assurance and credibility all the way to management level.

 “Having access to thorough and detailed data from the Local Data Company helped us make informed decisions to fashion cost-efficient lead generation campaigns. Knowing your market and being able to deep dive into its different layers is per definition what makes marketeers successful."

- Claire Brunel, B2B Marketing Manager at Too Good To Go

To talk about how LDC's bespoke projects can support your business objectives, email the team at team@localdatacompany.com.