Start-up Food Brand?
If you are starting up a new food brand, there will seem to be an endless list of things that need to be done and pressure on every second you have to complete them!
We help food brands every day so let us help you by sharing 5 main things you need to consider:
Identifying the target market for the food brand should be front and centre from day one, as knowing who you want to buy your product from should affect every subsequent decision.
Build a detailed picture of your target market; the greater the detail and thorough the understanding will pay dividends in the long run.
Finding out the specific needs wants, and preferences of the target market will help you define every element, from the unit cost and the route to market to the colour and font of the packaging.
You might believe that you have a very clear idea of what your target market is, and undertaking Market Research may sound daunting.
Still, even the simplest forms of research, such as a competitor review or customer questionnaire, can often unearth essential insights. Embrace the challenge and find the truth behind your target market’s requirements.
Once you have established exactly who your Target market is, then you need to build your brand identity around those specific needs and wants.
Your brand identity should not be left to chance or addressed as an afterthought.
Gaining your understanding of your competitors, you have the means to create a brand strategy that will stand out and express the values and benefits you know your target market is looking for.
Your brand strategy should provide the structure that will allow you to choose the right brand name, logo, and packaging design that will resonate with consumers at every level.
It is never too early to consider developing a product line that meets the needs and preferences of the target market.
You don’t have to deliver multiple products immediately, but knowing what and how you will in the future allows you to lay the foundations.
All too often, the focus can be on the first of the range, and when it comes to expanding and growing the strategy, the brand identity or packaging has to be repositioned or changed.
Making these changes can prove costly and damage your brand authority, which could damage sales and growth. Considering how you would broaden your product range and the implications of doing so can be part of your market research.
This information may inform your brand strategy and design but could also play a significant part in conversations with buyers and stockists.
Sales and Distribution
One of the key benefits of knowing your target market is the ease of developing an effective and comprehensive sales and distribution strategy. Identifying potential sales channels such as online, brick-and-mortar stores, and speciality shops can impact a range of other important considerations.
Depending on the channel, your products’ needs for storage and packing may change, and large retailers may insist on shelf-ready packaging or specific guidance on labelling for stock-taking and distribution.
Establishing good relationships with distributors and retailers early on can dramatically increase market reach and success.
Marketing and Promotion
As with the other 4 points, planning and strategy are key and are even more important when it comes to marketing and promotion.
Developing a comprehensive marketing and promotion plan to raise brand awareness is essential.
It should identify and outline the most effective marketing channels such as social media, influencer marketing, and events to get your brand talked about and shared.
Try and avoid superficial goals and take the time to establish clear and
measurable goals and metrics to track the success of marketing efforts. Knowing what is working and what isn’t will allow you to tweak and refine your strategy to maximise ROI on your marketing budget.
Launching a start-up food brand should be an exciting and enjoyable experience and you can avoid a lot of stress and anxiety by planning effectively.
If possible, talk to other entrepreneurs who have created successful food brand start-ups and use them as inspiration and listen to any advice they offer.
Another source of expertise is engaging an experienced and skilled food branding agency, as an entrepreneur may have only worked on one food brand but an agency will have worked on 100’s.