According to Fooddive, the Food and Beverage industry is the only industry that’s growing in 2020. As proof, a Statista report estimates that revenue in the F&B industry will amount to US$236,529m in 2020.
The key to growing in this industry is to adapt to the ever-changing tastes and preferences of your customers. In simple words, the more you adapt, the more you’ll be able to retain.
However, this is easier said than done. To do so, you need to constantly align your marketing strategies to sustain your rank in this highly competitive industry.
What exactly do consumers want from you?
Consumers today are obsessed with a sense of exploration and are on a hunt for new experiences. Hence, you need to work progressively to satisfy their needs with personalized efforts while maintaining quality standards.
I’m listing -- dominant F&B marketing strategies that you need to follow to build a customer base that’s strong and loyal and will help you increase your revenue.
Let’s dive in.
To begin with, you need to create an exceptional brand image. Positioning it permanently in the minds of your target audience is next. To achieve this, you need to understand the following factors:
- How well do you know your target audience?
- Do you know the target location well?
- Do you have all the necessary resources required to make your customers aware of your brand/product/service?
- What’s the composition of your target audience?
These are just a few basic questions you need to keep in mind before charting out your strategy.
In the words of Steve Jobs, “Packaging can be a theatre, it can create a story.”
You need to create a packaging that appeals to your audience and tells a compelling story.
Every seemingly little detail matters when it comes to packaging. Right from the colour to the font, every element should be in accordance with one single goal: to attract customers.
The logo is another important aspect that can make or break your brand. Your logo needs to be memorable, relevant and a symbol your customers can easily associate themselves with.
Your logo will be used everywhere — from your menu and cutlery to business cards and advertisements.
It’s advisable to have a professional team of designers assist you to design your logo. They’ll help you create a logo that perfectly captures the story you wish to tell your customers and also help you customise it as and when needed for all of your products/marketing requirements.
Revamping your brand image
As discussed previously, the tastes and preferences of customers keep changing. To keep up with the trends and adapt to it is the only way to survive in this industry.
You need to reinvent your brand image in order to be in the game. It includes:
- Customising the logo to give it a fresh feel
- Launching marketing campaigns in accordance with the on-going trends
- Changing the packaging to appeal to new customers
- Utilizing creative designs or innovative ideas to stand out from the competitors
Perceived as a ‘traditional tool’ of marketing, it has the potential to boost your sales more than social media platforms like Twitter and Facebook.
Surprising, right? On average, for every $1 that you spend on email marketing, you’ll be able to generate $40 in sales.
No matter what people think of emails, it’s still one of the most straightforward and reliable ways to generate business.
And the best part about this is it’s applicable to all sizes and kinds of businesses. However, just sending emails isn’t what is going to help you convert potential customers into loyal customers.
It’s crucial that you have a professional team manage your email marketing campaigns.
A blog can significantly help you amplify your reach.
You can develop content around any new idea. For instance, you’re planning to launch a Keto menu for a small city in India where people aren’t aware of its benefits.
You can start developing content around the Keto diet, it’s benefits, its importance, etc. and share the same on your social media channels.
You need to educate your customers and show them why it’s important to try your product/service, how it’s different from the customers and why they should trust you.
Additionally, you can collaborate with influencers or food bloggers in that area to promote your content. This will help you quickly reach and impact hundreds of people.
Partnering with other brands
You must partner with brands that are closely related to yours (not your direct competitors).
This will help your brand gain the trust of loyal customers of another brand resulting in new customers for your brand. For example, McDonald’s and Coca Cola partnered to promote their drink and fries.
Make a statement with your USP
Your Unique Selling Point is what sets you apart from your competitors. Just like your logo, your USP tells your audience a story about your brand and has the potential to imprint the mind of your customer for a long period of time.
Generally, the statement used by companies highlights the value(s) provided by the brand. Investors also take your USP into consideration.
When wiring a USP, you should:
- Understand your brand values, goal your want to achieve and your target audience
- Recognize customer’s problems and explain how your brand can solve them
- Determine how your solution is different and better than your competitors
- Make a realistic promise to your customers
Creating a USP takes a lot of effort and time. Finalizing the perfect one will help you market your brand better.
First, your customers will absolutely love it! Second, it’s a great way to remind your customers about your brand.
For instance, if you are a Chinese restaurant, you can have a month-long food festival during the Chinese New Year and offer special discounts and packages.
You can inform your customers of the same by emailing them. Once they see your offers and discounts, they will automatically bring their friends or family.
Another way to get more visibility on the web is to submit your brand on online portals and directories. These websites charge a small commission to list the brand that’ll help you increase your presence online thereby boosting your sales.
You can use different strategies to market your food and beverage business. From catchy headlines and trending social media posts to impressive packaging and email marketing, there’s a lot you can do to increase your revenue.
All these strategies will help you build trust in the minds of your customers without burning a hole in your pocket.
You can study the strategies of your competitors and implement strategies that work for them. Figure out what works for you and continue to optimize it.
Your brand will continue to impress as long as you understand the behaviour and interest of your potential and loyal customers.
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