7 Steps To Successfully Launch A Beverage Brand

7 Steps To Successfully Launch A Beverage Brand

Posted by on May 18, 2017 in Blog

7 Steps To Successfully Launch A Beverage Brand

7 Steps To Successfully Launch A Beverage Brand

When it comes  to starting a beverage company, the first thing you need to consider is “Why are you doing this?”.  If getting rich is the sole motivation, you’re 20 years too late. The market is over-saturated with beverages. What makes your drink different? What will inspire someone to choose it over the well-marketed and established competition brands? Maybe you have developed the most amazing drink you ever created and while that’s all well and good, the simple fact of the matter is that many great drinks never make it into the stores and many don’t sell very well, even if they do make it  to the shelves. A beverage’s taste is only one factor that will determine its ultimate success. Competition, unexpected delays, expensive marketing, ingredient availability, lower than expected profits and income; these are just a few of the problems you’ll encounter, so to increase your product’s changes of success, it’s important to have a well conceived plan that is “7 Steps To Successfully Launch A Beverage Brand”.

These Seven Basic Steps will help insure your success. . .

1.)  Market Research

2.)  Define your u.s.p., brand, and key benefits

3.)  Develop a Distribution Plan

4.)  Create a Consumer Marketing Plan

5.)  Refine your message

6.)  Make your pitch

7.)  Launch

7 Steps To Successfully Launch A Beverage Brand

1.) Market Research

Market research starts with keen observation and knowing your competition. When you see similar products in stores, take note of their placement, packaging, and marketing. What section are the products in? What other products share the shelf? Ask the store managers who their suppliers are. Where are these stores located and what types of communities are the in? How are products perceived by different demographics?  There is a wealth of information available online about trending markets and product category forecasts, but it’s always a good practice to combine this data with real world in order to comprehend the Big Picture.

2.) Define your ‘unique selling points’, brand and key benefits

Your product is virtually guaranteed to fail if you can’t define why your product is unique and why people need to have it! Defining your target market is crucial to your product’s success. Even if you think your product is for everyone, Realistically your product will have a much better chance of success if you are able to pinpoint the demographic you are aiming for and focusing on the people most likely to love/need/want and praise your product once they’ve tried it. Never underestimate the power of ‘word of mouth’. Being authentic, original and a true fan of the product will get you much further than catering to the market as a whole. Defining exactly who your product is for and its key benefits will make it much easier moving forward, especially when you need to explain to distributors, stores and consumers why they need to try your product. Packaging is also crucial as it’s your product’s most immediate and visible marketing device. Packaging is more than just a logo and a pretty picture on the box; it is the public face of your product, and it needs to be handled with careful and deliberate consideration.

3.) Develop a Distribution Plan

Now that you have defined your product, you need to develop a realistic distribution plan that plays to your product’s strengths; considerations will include the size of your company, amount of venture capital and the regions you’ve targeted for initial market penetration. Everyone would like their products sold coast-to-coast, but a nationwide launch of a untested and unfamiliar product is a great way to lose money. Finding specific stores and retailers that deal in similar product lines and cater to your product’s target market is a simple and effective strategy for success.

4.) Create a Consumer Marketing Plan

Once you’ve defined the target market for your product, it’s time to figure out how to reach them and the internet is a great place to start. Whether it’s through web pages, Facebook, Snapchat or Twitter, today’s Social Media allows companies to connect with their potential customers like never before.  Establish a presence on the internet and utilize all of the remarkable tools at your disposal. Get your product out there. Introduce it to the world. Engage your potential customers. Inform them. Let them know your product exists, and explain to them why your product is the best. But while the Internet can provide a virtual smorgasbord of marketing opportunities, it is not exclusive and any marketing strategies should be combined with more traditional strategies, such as Shows and Events, point-of-sale displays, and other creative promotions that allow people to test and sample your product.  Remember: word-of-mouth is the cheapest and most effective marketing available.

5.)  Refine your message

Continue to focus on your potential customer base. Hone your message and your marketing strategies. Introduce your brand to the people who you think will want it, then market it to them with gusto. Create the need, then fulfill it. Worry about expanding to larger markets once you’ve established your base.

6.) Make your pitch

Now this requires strategic precision!  Choose your targets carefully and make your pitch. Remember, pitching your product too aggressively can do more harm than good. Build your reputation and nurture your relationships. Anticipate problems and offer solutions. The more thought you put into marketing your product, the less work it will be for your potential clients and partners. Remove the roadblocks between you and your goals, not just for your sake, but for the sake of the people you want on board. Do your product a favor and make it easy for people, companies, and organizations to do business with you.

7.) Launch

Remember: just because your product is amazing, it doesn’t mean anyone and everyone is going to feel the need and the urge to try it. Once you’ve fully researched your target market, plan and target your launch in an appropriate manner. The right people, the right places, the right product and the right strategies. To achieve the successful launch of a new product, many elements need to converge and you are the individual tasked with bringing it all together. It’s not easy, but with the right product and the right people in place, the sky is the limit!

 

Next week, I will elaborate on some of the things we’ve discussed and more. We encourage questions and comments, and if you enjoyed this article, feel free to share it with anyone you think might benefit.

The following two tabs change content below.

Joseph Erndt

Joe Erndt has been working in web design since 2004. He has worked for many large multimedia design companies, including being an independent contractor and doing content strategy research and analysis for Macy's. He has also worked as a Flash Animator, Information Architect, San Diego SEO Consultant, Mobile App Developer among holding many positions in web development and internet marketing. Joe has a deep passion for design and marketing. He enjoys learning about marketing trends, user interface development, best practices, typography and all the latest tools and techniques to always stay ahead in his industry. He spends most of his free time with his daughter as well as traveling, snowboarding, surfing and photography.

Latest posts by Joseph Erndt (see all)

Post a Reply

Your email address will not be published. Required fields are marked *