You can work hard on your recipe and create a product with a wonderful taste but if consumers don’t buy it and try it, no one will ever know how good it is. 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition. Your branding is as important as the product itself.
As a small business owner or startup founder you may have walked down the aisle in the Supermarket and thought to yourself ‘I can do better than that!’. Well, it isn’t as easy as you think. Years ago the Food & Drink market was dominated by large brands and own label products, but since then, life has moved on and consumers are no longer sold on big advertising campaigns and being told what to eat or drink.
You may be surprised to know that 90% of a first-time purchase is based on the branding. Your branding is what will encourage consumers to buy your product rather than their regular choice or a competitor brand. But don’t confuse design with branding. Branding is the message you want to communicate to your target consumer – and this should be a clear ‘BUY ME’.
You can have the best tasting, most luxurious product on the market but if no one picks it up and tries it, no one will ever know. 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition.
Many people have amazing ideas for drinks but getting a new brand up and running can suck up a lot more cash than many other sectors. As retailers, you’ll be well aware of what’s involved in promoting an unknown product the purchasing decision, logistics, merchandising in store (and the rest).
I have a strong admiration for consumers’ savviness and ability to pick out the products they want and form a loyalty to them, despite the mass of advertisements projected at them every day. So, when creating a new food and beverage brand, you need more than just great taste and eye-catching packaging. Consumers are now much more focused on health and functionality.
The UK is brilliant when it comes to creativity and we’ve seen A LOT of innovation in the Food & Drink sector in recent years, writes Richard Horwell, owner of Brand Relations. Entrepreneurs in Cumbria have played their part in this. So, if you have a good idea for a new food or drink product you may be thinking of taking the plunge and starting your own business.
Is your entrepreneurial instinct drawing you to the Food and Drink sector? Many entrepreneurs look at the range of drinks in the Supermarkets or stores and say to themselves ‘I can do better than that!’. Creativity is brilliant in the UK, however, starting a Food or Drink company isn’t an easy option.
Starting a new drinks business is never easy but the boom in craft beers means that many people like the idea of creating a new and different product. Here are some pointers on how to start: